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Apartment vacancies, rents fall in Colorado21 May

The statewide apartment-vacancy rate dropped to 6.6 percent during the first quarter, compared with 8.5 percent in the same period a year earlier, according to a survey released Thursday.

Meanwhile, average rent statewide fell to $840 during the first quarter from $844 in 2009, according to the report by the Colorado Division of Housing.

One of the reasons for the decline in vacancy is that students who graduated from high school over the past several years have left home, said Gordon Von Stroh, professor of business at the University of Denver and author of the report.

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