COLORADO SPRINGS — A recent report says apartment rents in the Colorado Springs area rose again in the first quarter of this year.

The Gazette reports a study by the Colorado Division of Housing and the Apartment Association of Southern Colorado says renters spent an average of $1,130.25 a month during the January-March period, up $13.57 from the fourth quarter and a nearly $70 spike from the first quarter of 2017.

The report says first-quarter rents in the area remained $11.15 below the record of $1,141.40 a month set in the second quarter of 2017. And rents have leveled off somewhat over the last three quarters after nine straight quarters in which rents have reached record highs.

Apartment Association of Southern Colorado Executive Director Laura Nelson says it will take a few more quarters to know whether rents have plateaued.

Information from: The Gazette

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