Rents drop for first time in three years in Denver

Real Estate

Rents drop for first time in three years in Denver

DENVER - Sky high rents aren't really surprising to Coloradans anymore. What did catch us by surprise is the first drop in average rental prices in three years.

“It doesn't tell us a lot in one quarter. The average went down three. The median went up five,” said Ron Throupe, Associate Professor of Real Estate at the University of Denver about what it all means.

OK, so the average apartment rental price only dropped three bucks, now $1,368 a month. But it could be a sign of things to come.