Springs Rent Movin' On Up ; Apartment Vacancies Down to 9.8%, Boosting Demand, Rates

Gazette, The; Colorado Springs, Colo. › April 03, 2006

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Summary

The party is almost over for renters in the Colorado Springs area apartment market as rent giveaways are disappearing amid lower vacancy rates.

The area's average monthly rent, after concessions made by landlords, rose 2.9 percent during the past three months to $607 this quarter, a 6.1 percent increase from a year earlier, according to a survey by Doug Carter LLC, a local apartment brokerage and research firm.

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Extract

Springs Rent Movin' On Up ; Apartment Vacancies Down to 9.8%, Boosting Demand, Rates

"The market is clearly firming up. There are fewer concessions and more demand for apartments. I would expect that to ...

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