The Colorado Springs metro area average rent rose year over year for the ninth quarter in a row during the first quarter of 2012, according to a Colorado Division of Housing report.  The average rent climbed 2.4 percent to $754, up from $737 during the first quarter of 2011.

"The apartment vacancy rate in the Colorado Springs metro area rose year over year to 6.4 percent during the first quarter of 2012," reported CDOH, "rising from 2011's first-quarter vacancy rate of 5.8 percent, which was a ten-year low. The first-quarter rate fell from last year's fourth-quarter rate of 6.7 percent."

As rents rise metro wide, there is a movement of tenants into the lower rent areas, such as the Security-Widefield area where vacancy rates plummeted in the first quarter of the year from 16.2 percent to 5.3 percent.

Read the full story at Colorado Division of Housing

Posted in Headlines

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