DENVER — There's finally some good news for Denver renters with prices dropping to their lowest in four years and specials at an all-time high, according to a new industry report.
The Denver Metro Apartment Vacancy & Rent 4th Quarter 2025 report shows the average rent is $1,754 per month before specials, about $100 per month less than a year ago.
But concessions are making apartments even more affordable, with deals reaching levels not seen in more than 20 years.
"We're seeing on average, 10 to 12 weeks free," said Brian Sanchez, founder of Denver Apartment Finders. "On top of that, we're also seeing gift cards — anywhere from a $500 to $1,000 gift card — if you apply within a certain amount of time."
Sanchez said the deals aren't limited to luxury buildings. Older, stabilized properties are also offering specials to compete with newer developments.
Regina Modzel, who recently moved to Denver experienced this favorable market firsthand when securing her lease downtown.
"I think that's where you have more negotiating power," Modzel said.
In the Denver Metro Apartment Vacancy & Rent 4th Quarter 2025 report, experts explained the high vacancy rate stems from Denver's recent building boom.
But with fewer people moving to Denver and fewer apartment projects permitted this year compared to previous years, existing units are expected to gradually fill up.
For renters like Modzel, the market shift brings welcome relief.
"On a personal level, I like my rent to stay the same price," she said.
Sanchez told Denver7 he expects the renter-friendly conditions to continue for the next 12 to 18 months.
