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Apartment vacancy rate up in 4th quarter

Published February 20, 2009 at 12:05 a.m.

The statewide apartment vacancy rate in the fourth quarter of 2008 increased to 8 percent, driven by advances in Greeley, Grand Junction, Loveland and metro Denver, according to a report released Thursday by the Colorado Division of Housing.

That is a 21 percent increase from the 6.6 percent rate a year earlier.

Vacancies also rose from 2008's third-quarter vacancy rate of 6.6 percent, although vacancies are generally expected to rise from the third quarter to the fourth quarter for seasonal reasons.

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