#201: Denver Rental Market Insights 2026, With Scott Rathbun

Mar 5, 2026

Calibrate Real Estate Podcast #201

In this episode of the Calibrate Real Estate Podcast, host Kyle Malnati sits down with Scott Rathbun, the President and Owner of Apartment Appraisers and Consultants (AANC), to discuss the current state of the apartment market in the Denver Metro Area.

This episode provides valuable insights and data-driven analysis for real estate professionals and decision-makers in the Denver Metro Area, as they navigate the current market conditions and plan for the future.

Here are key takeaways:

• The Denver Metro Area is experiencing a slowdown in population growth and employment, which are typically the key drivers of housing demand.
• The demand for apartments remains high due to the increasing unaffordability of homeownership, leading to a delay in the transition from renting to owning.
• The apartment market has been overbuilt, resulting in rising vacancy rates and the need for landlords to offer significant concessions to attract tenants.
• The decline in rents is impacting the affordable housing market, as market-rate rents are now competing with subsidized affordable units.
• The development pipeline is shrinking, which could lead to a future shortage of new apartment supply and a potential resurgence in rent growth.
• Investors and developers should closely monitor the market trends and be prepared to adjust their strategies accordingly.
• Renters may have more negotiating power in the short term, but the long-term outlook suggests the potential for a tightening market and rising rents.
• Policymakers and affordable housing advocates should consider ways to incentivize the development of affordable units to mitigate the impact of the market-rate rent competition.