Colorado rents are at an all-time high, reports Denver station KUSA. The average rent for an apartment in Colorado is nearly $1,200. That's up about 7 percent from last year. To deal with increased demand, housing units are being constructed throughout the state. Even so, Colorado’s vacancy rate sits at a steady 4.4 percent. As soon as one renter leaves, another renter fills their place. And when that happens, the landlord often raises the rent.