Report: Apartment vacancy drops, rents rise
While Colorado Springs apartment vacancy rates fell in the second quarter, rents increased. Apartment Insights, a quarterly apartment market report put together by apartment broker Doug Carter at Sperry Van Ness, reported a city-wide vacancy rate of 6.38 percent. The average rent increased $7 from the first quarter to $747 per unit. Rent citywide is [...]
While Colorado Springs real estate insiders have bemoaned the city’s high office vacancy rates, they’re similar to those in other cities the same size, according to Hoff & Leigh Commercial Real Estate. “The surprising thing is that we’re actually pretty well positioned in comparison to other tertiary markets,” said Hoff & Leigh researcher Jason Baumgartner. [...]
Continue reading …Out-of-state investors are eying Colorado Springs’ rapidly improving apartment market. The average rent in Colorado Springs hit a record high during the third quarter of this year as vacancy rates dropped to their second-lowest in a decade, according to a report from the Colorado Division of Housing. The Colorado Springs market was depressed longer and [...]
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