Colorado's rental market continued its summer momentum in June 2026, with properties leasing faster and tenants sticking around longer than usual. In this month's update, Haylie with Colorado Realty and Property Management breaks down the key leasing metrics landlords need to know, from average days on market to lease renewal rates and smart pricing strategy, plus what it all means for property owners move through the peak leasing season.
• Average days on market dropped to just 25 days
• Lease renewals are holding strong at 74%
• Properties are averaging 1.45 price reductions before leasing
• Tenant demand remains strong, but competition is still high
• Why pricing your rental correctly from the start matters
Average Days on Market Drops to 25 Days
Our average days on market for properties leased in June was just 25 days which is the lowest we've seen in quite some time. As we move through peak leasing season, tenant demand remains strong, making this an excellent time to bring your property to market.
Lease Renewal Rate at 74%
Our current lease renewal rate is 74%, which is a great indicator that most tenants are staying put as opposed to moving. We love when great tenants renew their leases, because this helps reduce leasing costs and vacancy time for our clients.
Rental Price Drops and Pricing Strategy
When a property is on the market, there's a current average of 1.45 price drops needed to get the property leased. Oftentimes, a property owner will want to list slightly higher than our recommendation. When a property doesn't perform as expected, we usually need to adjust that rental rate. Adjusting the rental rate helps us reach new prospective tenants and generate more interest.
Why Starting at the Right Rental Rate Matters
Listing at an ideal rental rate will not only help reduce time on market, but typically means a higher final rental rate than if we started too high. As we move through summer, we're continuing to see the market improve. Demand is at its peak, but there is still a surplus of available homes, which means competition remains strong. To attract a high-quality, five-star tenant, it's important that your home shows as a five-star property before it ever hits the market.
Ready to Maximize Your Rental Income?
If you own rental property in the Denver area and want to make the most of this summer's leasing season, Colorado Realty and Property Management is here to help. Our team knows how to price your property right, get it market ready, and attract high quality tenants who stay. Contact us today for a free rental analysis and see how we can help you maximize your return while minimizing vacancy time.
