Apartment Trends Magazine May 2018

DENVER METRO APARTMENT VACANCY & RENT Metro Denver Vacancy & Rent Report Q U 1ST A R T QUARTER ER 2018 EXECUTIVE SUMMARY • 1ST 10% Vacancy Rate $1,500 9% 6.1% $1,400 8% Last Quarter: 6.4% $1,300 7% Average Rent $1,420 Last Quarter: $1,396 $1,200 6% - 5% $1,100 4% $1,000 3% Average per sq. ft. $900 2% $1.67 Last Quarter: $1.63 $800 1% 0% 13Q1 13Q3 14Q1 14Q3 Line: Percent Vacant Discount / Concessions 5.7% 15Q1 15Q3 12.2% Last Quarter: 11.7% Net Absorption (Units) 2,987 Last Quarter: 3,635 Adams 5.8% Arapahoe 4.6% 17.7% 18Q1 Boulder/Broomfield Average Rent Rate (/sq. ft.) $1.58 4.7% $1,546 $1.76 Denver 7.8% $1,471 $1.80 Douglas 5.9% $1,529 $1.61 Jefferson 6.1% $1,415 $1.64 17.0% 16.6% 13.7% 12.7% 13.1% 14.1% 6 Visit www.aamdhq.org and register to receive the full Wheat Ridge Commerce City quarterly Vacancy & Rent Survey: Hottest Sub-Markets (Average of all four quarters) 15.2% $700 PREV. YEAR $1,347 23.3% 18.5% 17Q3 $1.57 Yearly Economic Vacancy 17.5% 17Q1 $1,310 SPONSORED BY: 24.3% 16Q3 ARROWS DESIGNATE CHANGE SINCE PREVIOUS QUARTER Vacancy Rate Economic Vacancy 25.1% 16Q1 Bar: Average Rent (in dollars) County Overview Last Quarter: 4.6% 23.4% 2018 SUMMARY 12.4% 12.2% 12.2% 2.3% 3.2% Longmont Littleton 2.7% 3.6% Denver - City Park Denver - Central NW AUTHORS: Ron L. Throupe, Ph.D, Daniels College of Business, Denver 2.8% University of 3.9% Jennifer L. Von Stroh, Colorado Economic and Management Associates www.aamdhq.org MAY 2018 TRENDS | 25 2002 Year 2003 2004 Q1 2005 Q2 2006 2007 Q3 2008 2009 Q4 2010 2011 Average 2012 2013 2014 2015 2016 2017 2018

Apartment Trends Magazine May 2018 | Page 27