Westminster bumped Aurora in July as the metro Denver market with the fastest-rising apartment rents, according to a report Wednesday from .
Westminster rents rose at an annual pace of 16.3 percent in July, beating the 15.8 percent increase averaged in north Aurora. a 17.8 percent annual increase.
Metrowide, apartment rents rose at a 10.3 percent average annual pace in July, down from a 10.9 percent pace in June, but enough to keep Denver in the top five metro areas for rent hikes.
Renters paid an average rent of $1,345 a month in July, up $125 from the average rent of $1,220 a month a year earlier. Occupancy rates ticked lower to 95.9 percent, down from 96.2 percent in July 2014.
Downtown and central Denver, home to many of the new luxury apartments coming into the market, had the slowest rent growths, at 5.1 percent and 4.4 percent, respectively.
Axiometrics numbers show that renters, in their search for affordability, have driven up rates in lower-costs areas.
