Colorado rents are at an all-time high, reports Denver station KUSA. The average rent for an apartment in Colorado is nearly $1,200. That's up about 7 percent from last year. To deal with increased demand, housing units are being constructed throughout the state. Even so, Colorado’s vacancy rate sits at a steady 4.4 percent. As soon as one renter leaves, another renter fills their place. And when that happens, the landlord often raises the rent.
Many households in Colorado are now spending over fifty percent of their monthly income on rent. Unfortunately, renters have little recourse once a lease ends and the landlord wants to raise the rent. This can be a bitter pill to swallow for low-income families and senior citizens on a fixed income. However, one expert predicted that if production continues, rents should even out in a few years.