This was a massive year for Colorado Springs business news — and while the Business Journal covered all-around important stories, not much of our top news is necessarily “good news.”
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Colorado Springs-area renters continued to pay more for apartments at the end of last year.
The average rent for a local apartment rose to $1,265.92 a month in the fourth quarter shy of a record, but still $62.33 higher on a year-over-year basis, according to a survey of apartment owners and landlords by Ron Throupe, an associate business professor at the University of Denver s Daniels College of Business, and Jennifer Von Stroh of Colorado Economic & Management Associates in Denver.
Fourth-quarter rents last year dipped almost $11 from the third quarter. But fourth-quarter costs traditionally decline from the third quarter because landlords see fewer renters late in the year and therefore lower rates to woo tenants, said Laura Nelson, executive director of the Apartment Association of Southern Colorado.