The Colorado Division of Housing reports that the average rent in the Colorado Springs metro area climbed 5.5 percent, year over year, during the second quarter of 2011 to hit an all-time high of $759.  The average cost of rent rose from $737, posted the first quarter of 2011.

"The average rent increased in all types of apartments measured, including all types of units from efficiency apartments to three-bedroom apartments." reported CDOH.

Colorado is seeing real growth in the rental market since vacancy rates have been cut in half over the past couple of years.

Investors have been rapidly moving into the real estate market to take advantage of low prices and low rates, turning bank owned and foreclosures into rental properties.

Read the full report at CDOH.

photo credit: ccarlstead

Posted in Real Estate Market Conditions, Headlines

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