Rents in Denver rose by 6.7 percent in 2011, the eighth largest annual rent increase percentage in the nation according to a report issued Thursday by the Texas-based MPF Research. The report on the Denver rental market predicted that rental prices would rise by at least 6.5 percent.
Rent increases have occurred all over the Denver Metro area. In the Denver Tech Center area reached 8.6 percent, 7.5 percent in Littleton, 7.0 percent in south Aurora, 6.9 percent in intown Denver, 6.8 percent in south Denver and west Englewood and 6.8 percent in north Aurora. Only Westminster and Arvada/Golden posted rent price increases below 3.0 percent.
From March to September, rent increased in Denver by 5.6 percent and overall, the rent increase percentage in Denver was the largest of the past decade outside of 2007.
MFP Research said the rental market in Denver and other metro area should continue to increase in 2012 and predicted that occupancy will grow by another half a percentage point and rents will rise by at least 4.5 percent.