Denver Multifamily Market Report – January 2025

Market Overview

Denver’s multifamily market is navigating a period of rebalancing, with elevated deliveries continuing to weigh on rent growth. In early 2025, the metro saw rents decline year-over-year by 3.4%, even as demand began to show signs of resilience. Occupancy held at 94.2%, and net absorption reached 2,081 units—marking a recovery from prior quarters. However, with over 15,000 units still under construction, the path to stabilization will depend on a sustained slowdown in starts and continued renter absorption of new product.

About Yardi Matrix

Yardi Matrix is recognized as one of the most comprehensive and trusted data platforms for the multifamily sector. It combines proprietary property-level data with advanced analytics and deep research coverage of more than 160 U.S. markets. What makes Yardi stand out is its real-time linkage with Yardi's property management systems, allowing unparalleled insight into rent performance, lease trade-outs, ownership, and construction activity. For multifamily stakeholders in fast-evolving markets like Denver, Yardi Matrix provides unmatched clarity across asset classes, from lease-up pipelines to stabilized portfolios.