Insights
Colorado
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VACANCY
Apartment
The average Vacancy Rate was 5.7% in the Colorado Springs metro
- Vacancy in the Colorado Springs metro increased by 60 basis points.
- The Colorado Springs metro had the highest vacancy level since year-end 2010.
- Vacancy is expected to finish 2024 at 5.8% in the Colorado Springs metro.
Distribution / Warehousing
The average Vacancy Rate was 3.7% in the Colorado Springs metro
- Vacancy in the Colorado Springs metro drifted upward by 10 basis points.
- Vacancy is expected to finish 2024 at 3.4% in the Colorado Springs metro.
Office
The average Vacancy Rate was 19.2% in the Colorado Springs metro
- Vacancy in the Colorado Springs metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2024 at 19.8% in the Colorado Springs metro.
Retail
The average Vacancy Rate was 12.7% in the Colorado Springs metro
- Vacancy in the Colorado Springs metro rose by 140 basis points.
- The Colorado Springs metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 12.3% in the Colorado Springs metro.
RENT
Apartment
The average Asking Rent was $1,344 in the Colorado Springs metro
- The Colorado Springs metro had the seventh fastest rent growth in the nation, and the second in the West region, behind only San Jose.
- Colorado Springs metro had its fastest rent rate of increase in four quarters.
- Rent is expected to finish 2024 at $1,341 in the Colorado Springs metro.
Distribution / Warehousing
The average Asking Rent was $10.35 in the Colorado Springs metro
- Rent in the Colorado Springs metro was up 0.5% from Q2 2024.
- Rent is expected to finish 2024 at $10.43 in the Colorado Springs metro.
Office
The average Asking Rent was $19.77 in the Colorado Springs metro
- Rent in the Colorado Springs metro was up 0.6% from Q2 2024.
- Colorado Springs metro had its fastest rent rate of increase in four quarters.
- Rent is expected to finish 2024 at $19.87 in the Colorado Springs metro.
Retail
The average Asking Rent was $15.54 in the Colorado Springs metro
- Rent in the Colorado Springs metro was up 0.1% from Q2 2024.
- Rent is expected to finish 2024 at $15.63 in the Colorado Springs metro.
VACANCY
Apartment
The average Vacancy Rate was 7.2% in the Denver metro
- Vacancy in the Denver metro drifted upward by 40 basis points.
- The Denver metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 7.1% in the Denver metro.
Distribution / Warehousing
The average Vacancy Rate was 8.4% in the Denver metro
- Vacancy in the Denver metro drifted downward by 40 basis points.
- Vacancy is expected to finish 2024 at 8.3% in the Denver metro.
Flex / R&D
The average Vacancy Rate was 4.9% in the Denver metro
- Vacancy in the Denver metro declined by 80 basis points.
- The Denver metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2024 at 4.9% in the Denver metro.
Office
The average Vacancy Rate was 22.6% in the Denver metro
- Vacancy in the Denver metro drifted downward by 30 basis points.
- Vacancy is expected to finish 2024 at 22.9% in the Denver metro.
Retail
The average Vacancy Rate was 9.2% in the Denver metro
- No vacancy change since Q2 2024 in the Denver metro.
- The Denver metro had the highest vacancy level since Q1 2022.
- Vacancy is expected to finish 2024 at 9.2% in the Denver metro.
RENT
Apartment
The average Asking Rent was $1,797 in the Denver metro
- Rent in the Denver metro was up 0.1% from Q2 2024.
- Rent is expected to finish 2024 at $1,797 in the Denver metro.
Distribution / Warehousing
The average Asking Rent was $7.21 in the Denver metro
- Rent in the Denver metro was up 0.4% from Q2 2024.
- Rent has risen in every quarter since Q2 2020 in the Denver metro.
- Rent is expected to finish 2024 at $7.29 in the Denver metro.
Flex / R&D
The average Asking Rent was $10.75 in the Denver metro
- The Denver metro had the second lowest rent growth in the nation, higher than only Los Angeles.
- Rent is expected to finish 2024 at $10.87 in the Denver metro.
Office
The average Asking Rent was $28.18 in the Denver metro
- Rent in the Denver metro was up 0.1% from Q2 2024.
- Rent Has risen for six consecutive quarters in the Denver metro.
- Rent is expected to finish 2024 at $28.27 in the Denver metro.
Retail
The average Asking Rent was $19.64 in the Denver metro
- Rent in the Denver metro was up 0.4% from Q2 2024.
- Rent is expected to finish 2024 at $19.71 in the Denver metro.