Matrix Multifamily Denver Report-September 2024 September 19, 2024

Rent Growth Outpaces Nation

Denver’s advertised asking rents rose 0.5 percent on a T3 basis and 1.1 percent YoY through July, above the U.S. rate on both counts, even while its multifamily stock expanded 2.1 percent year-to-date. Occupancy in stabilized assets also points to steady demand, down just 30 bps YoY through June to 94.8 percent.