Monday, July 24, 2006
Apartment rents down -- or not
RealFacts, a California research company that tracks the nation's apartment industry, says Colorado Springs was the only city in a recent survey of 29 major metropolitan areas in the western United States that showed a decline in average monthly apartment rents over the past year. Its survey suggests average monthly rents in the Springs are now $708, down 0.4 percent from last year. That figure contrasts with a survey from local commercial real estate broker Doug Carter, whose June survey estimated local monthly rents were averaging $626, a 3.5 percent jump from a year ago. RealFacts and Carter, however, were on par when it comes to apartment occupancies; both suggested occupancy levels increased by about 3 percent this year over 2005.