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2020 Q3 Denver Multifamily Market Report

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Investment Activity Takes the Spotlight in Denver's Multifamily Market

Highlights

  • Despite nearly 3,000 units being delivered, Metro Denver's vacancy rate fell by 10 basis points quarter-over-quarter to 5.70%.
  • Over 1,250 units were absorbed in Q3 2020, representing a 25% increase over Q2 2020.
  • The average rental rate rebounded back to pre-pandemic levels to an average rate of $1,587.
  • The number of units under construction declined from 19,200 to 17,400 in Q3 2020. 
  • There is an estimated 5,695 units that will be completed by the year's end, a delivery decrease year-over-year of 51%.

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2020 Q3 Denver Multifamily Market Report

Download Report