Across the United States, fewer apartments and rental properties are going unfilled, according to a survey by the Apartment List, an online rental resource.
The vacancy rate for Colorado was 5 percent during the last quarter of 2015, lower than the national average of 7 percent. Apartment vacancy rates have declined 4.1 percent since the 2009 peak, with 11.1 percent of rental properties didn’t have tenants.
Where does Colorado fit in? The states with the tightest rental markets were Vermont at 2.9 percent; Oregon at 3.5 percent and Washington at 3.8 percent.
Cities with the most constrained rental markets were Portland, Ore., at 2.4 percent; Los Angeles at 2.7 percent; Austin, Texas, at 3.4 percent, San Francisco at 3.5 percent and Seattle at 3.9 percent. At 4.6 percent, Denver’s vacancy rate is lower than the state’s overall, according to the research.
By contrast, the Apartment List says Alabama has the highest vacancy rate at 16 percent; followed by Kansas at 12.9 percent.