Apartment vacancies jump across Colorado
Vail, CO, Colorado
The Colorado statewide apartment vacancy rate for the second quarter of 2009 increased to 9.1 percent, rising from 6.7 percent in the second quarter of 2008.
According to a report released this week by the Department of Local Affairs’ Division of Housing, all metropolitan areas of the state other than Colorado Springs reported increases in vacancy compared to the same period last year.
“The economy continues to dampen demand for multifamily rentals statewide,” said Gordon Von Stroh, professor of business at the University of Denver, and the report’s author. “An increase in troops moving to Colorado Springs is keeping rates down there, but most other areas saw increases of 2 to 3 percentage points.”
The vacancy and rent surveys are provided by the Division of Housing every quarter. The Report is available online at http://dola.colorado.gov/cdh.
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