Denver Q4 Market Report: Job Growth Accelerates, Keeping Pace with New Apartment Supply

Highlights:

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• The Denver multifamily market cooled slightly during the fourth quarter, something that has occurred in the final months of the past few years.
• Vacancy rose 70 basis points in the fourth quarter, reaching 5.9 percent. The rate was unchanged from one year earlier.
• Asking rents dipped to $1,512 per month at the end of the year, matching the figure from the second quarter. Rents rose 4.4 percent year over year.
• Sales activity ticked higher to close 2019, and cap rates compressed slightly to 4.9 percent. The median price reached $220,900 per unit for the year, up 2 percent from the 2018 median price.

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