Denver Has Third Hottest Apartment Market in Nation

According to a recent report from Zillow, Denver is the third hottest market in the country for apartment rentals. It seems new apartments in the Mile High city are getting snapped up by renters as quickly as they can be built. Only Columbus and Seattle have stronger rental markets.

To compile the list, Zillow considered three points of criteria, including:

  • Share of rental apartments built after 2011
  • The percent of new units built within the last year that rented within three months of being built, and
  • The appreciation of apartment rents over the past year.

New apartment developments in the Denver area represent 2.9% of all rentals in the market, and of those, 69% are rented within three months or less. Average rents in the market have gone up 6.9% since this time last year.