Fundamentals Remain Under Pressure
Denver’s average advertised asking rents were up 0.2% to $1,850, on a trailing three-month basis through July, as per the latest Denver multifamily market report. Growth was on par with the national average, which reached $1,771. However, on a year-over-year basis the difference was more significant. The metro’s average was down 3.6%, well below the 0.2% growth rate recorded across the U.S. Meanwhile, Denver’s occupancy rate settled at 93.5% as of June, below the 94.1% national figure, as noted in the U.S. multifamily market report.
Denver’s unemployment rate was 3.9% in June, remaining below the national level, according to preliminary Bureau of Labor Statistics data. The metro lost 7,900 net jobs during the 12 months ending in May, as gains led by education and health services were not enough to offset declines across six other sectors. On the development side, the 55-acre Ball Arena redevelopment advanced as Denver approved Wynkoop Crossing, a pedestrian and bicycle bridge linking downtown to the arena district. This is part of the project’s initial phase, which also includes a hotel, an entertainment venue and residential space.
Development activity remained strong in Denver, with more than 4,700 units delivered year-to-date through July and approximately 18,000 more under construction. Investment activity lagged, however, with transactions reaching $511 million with an average per unit price of $215,716.
Read the full Yardi Matrix Denver Multifamily Market Report: September 2026
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