Average rents spike 17% in Fort Collins, Boulder

FORT COLLINS – Average rents in both Fort Collins and the Boulder-Broomfield area skyrocketed in the first quarter of 2014, jumping by 17 percent, according to data released Wednesday by the Colorado Division of Housing.

In Fort Collins, the average rent increased from $1,037 per month in the first quarter of 2013 to $1,216 per month in the same quarter this year. At the same time, the vacancy rate in Fort Collins fell to 1.6 percent, compared with 5.5 percent a year ago.

In the northwest portion of the city, the vacancy rate dropped to 0.2 percent, driving the average rental rate…