Rental-home vacancies drop to 7-year low

By Margaret Jackson 
The Denver Post

 The vacancy rate in for-rent condos, single-family homes and other small properties dropped to its lowest point since 2001, according to a survey released today.The vacancy rate was 2.7 percent for the first quarter, according to the report prepared for the Colorado Division of Housing.The lowest overall vacancy rates were in Douglas and Arapahoe counties, at 1.1 percent and 1.6 percent respectively.Average rents increased to $985 during the first quarter, up from $966 during the fourth quarter of 2007 and $937 during the first quarter last year.Rents were highest in Douglas County at $1,385 and lowest in Denver County at $965.