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COLORADO SPRINGS, CO-Rising unemployment and low mortgage rates continue to drive up the multifamily rental vacancy rate in the state’s second largest city, according to a third-quarter report by Doug Carter LLC, a local apartment brokerage firm. The report shows that the overall average vacancy rate rose to 9.1% from 7.2% in the second quarter.

The average rent remains level, according to Carter.

Of the 200 communities that responded to his survey, 55% offer concessions, similar to the second quarter. But most property owners offer concessions on longer leases only.

“The good news is in the 1980s vintage properties, where vacancy decreased from 7.5% to 6.1%,” according to the report.

Older properties, however, saw vacancy rates rise to 8.7% from 7.6% in the second quarter and vacancies in older properties near Colorado Springs Airport and in the north market topped 10%.

In the newest buildings, constructed in the 1990s, the average vacancy rate rose to 10.5% from 7.2% in the second quarter.

Newer properties in the north part of the city rose to 12.5% from 9.7%.

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