Denver, CO Multifamily Market Report | CBRE | Q1 2026

Market Overview

‍
Denver's multifamily market showed meaningful improvement in Q1 2026, with occupancy rising 40 basis points quarter-over-quarter to 93.2% and net absorption reaching 2,776 units, a significant swing from the negative 3,519 recorded in Q4 2025 and a 25.4% jump year-over-year. Deliveries of 1,346 units were on par with Q4 but down 43.5% year-over-year as the construction pipeline continues to thin. Average rent eased 0.6% quarter-over-quarter to $1,729 and remains down 6.4% from $1,850 a year ago. Investment volume totaled $289 million, well below the $893 million recorded in Q1 2025, reflecting continued investor caution as the market works through its supply correction.

‍About CBRE

‍
CBRE is a global commercial real estate services and investment firm operating across major U.S. and international markets. Their Q1 2026 Denver multifamily report tracks occupancy, rents, absorption, deliveries, and investment sales activity by submarket to help owners, developers, and investors evaluate market conditions and timing. To read the full report, click here.