Apartment construction in metro Denver slows in 2025
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The number of apartments constructed in the Denver metro is expected to fall 30% this year compared to last, according to a recent RentCafe analysis.
The big picture: After years of breakneck construction, the pipeline is slowing in Denver and nationwide as high interest rates, soaring building costs and an oversupply make developers think twice about breaking ground.
- Nationally, new apartment construction is down about 21% from last year's record pace.
By the numbers: Metro Denver is on track to deliver nearly 12,700 new units in 2025, per RentCafe. About 46% are in the city itself.
- Despite the downturn, Denver still ranks 10th among U.S. metros for new apartments.
Reality check: What's getting built isn't necessarily what renters need. Most new units are luxury — not the affordable options in short supply.
- That mismatch, combined with fewer new projects, could put upward pressure on rents again.
What we're watching: Denver Mayor Mike Johnston has pledged 3,000 new affordable units this year — a start, but still a sliver of the roughly 45,000 he says will be needed over the next decade.