Market Analysis

Denver, CO Multifamily Market

Cap rates, rent trends, and underwriting benchmarks for Denver apartment investors.

5.3%
Avg Cap Rate
4.5% – 6.2%
Cap Rate Range
1.28x
Avg DSCR
$230,000
Price / Unit
$1,650
Avg Rent / Unit
7.5%
Vacancy Rate
+1.5%
YoY Rent Growth
715,000
Population

Market Trend

Denver faces a supply wave similar to Austin, with elevated vacancy in downtown and RiNo. Suburban markets along the I-25 corridor are more stable. Long-term fundamentals remain strong with outdoor lifestyle appeal and growing tech presence.

Lender Notes

Lenders cautious on downtown Class A. Suburban stabilized assets attract better terms. 1.25x DSCR minimum is standard.

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