Overview
- New AAMD data show the metro’s average apartment rent down 5% year over year to $1,816, the lowest since 2022.
- Concessions hit 5.8% — roughly three weeks free on average — pushing effective rents to about $1,710, or roughly 9% below two years ago.
- Supply continues to weigh on pricing, with 3,812 units delivered in Q3 and 12,243 year to date, taking inventory to about 446,708 and lifting vacancy to around 6.3%.
- Landlords across property tiers are advertising sizable move-in deals, including up to 10 weeks free and two to three months free at newer downtown and neighborhood complexes.
- Despite softer rents, pressure on renters is intensifying: Denver’s TRUA briefly paused, reopened with $1.9 million in emergency funds, the mayor proposed $15.1 million for 2026, eviction filings are projected to reach about 16,000, and the state ERAP is set to reopen Nov. 12.