Tag Archives: Boulder Rental Market

Boulder Rental Market information for rental property owners, Boulder property management companies, and renters, from the Boulder County rental market experts at Housing Helpers, with local rental offices in Boulder.

Rentals buy time in seller’s market

Sometimes it makes sense to purchase a home rather than rent. When you own a home, you get a sizable tax break and you have a good chance of your property gaining value and offering you a return on your investment over time.

However, right now in Colorado, it may be a good time to consider rentals. Housing prices in Colorado have skyrocketed in the last six months. This is great news for homeowners who were trying to wait out the downturn of the early 2000s. Property values are now as high as they have been in a decade.

Unfortunately this may not be welcome news for people looking to enter the housing market in Colorado for the first time. When home values raise this quickly, it takes time to know if the demand for housing will continue at this rate, stabilizing or even raising housing prices, or if prices will settle back down by winter, when home prices tend to decrease a little naturally.

Rental prices follow the housing market, so they are high now as well, but it might be prudent to spend a year in a rental as you watch the housing market to see if these higher prices are here to stay, or if there will be bargains to be found in the next six to twelve months.

Living in a rental gives you the time you need to analyze the housing market and purchase at the perfect time

Only time will tell whether the high prices now are a small bubble of inflated prices that will burst, or a new trend that will continue to rise. Colorado will always be a great place to own property, but timing is everything when you enter a housing market with this much demand. Living in a rental gives you the time you need to analyze the housing market and purchase at the perfect time

 

Colorado Rentals                   Boulder Rentals

 

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Fall Pre Leasing in Boulder

Top Reasons Boulder Rentals Remain Hot

Boulder rental properties have always been popular, including the surrounding area of Boulder County.  During the economic turmoil of the last decade, many people lost their homes to foreclosure and were forced to rent. This pushed thousands of homeowners in to the rental market.

However, as the real estate market has recovered rentals are still in high demand.  In fact rentals in Boulder County are in more demand than ever.  Here are a few reasons why:

The 2013 Floods

The floods that swept through 17 counties in the fall of 2013 damaged or destroyed over 20,000 homes, many of those in Boulder County.  That devastation forced many long time Boulder area home owners into the rental market.  A good percentage of those homeowners remain in the rental market as they were unable or unwilling to rebuild.

The Department of Local Affairs Division of Housing working with the Colorado Housing and Finance Authority has announced over $30 million in federal and state funding that will be used to assist more than 950 people who are still seeking permanent housing after the flood.  As a result 1,035 new affordable rental units will be constructed in several communities including Longmont, Louisville, Fort Collins and others.

Population Growth

Census estimates show a population growth in Boulder County of 6.4% since 2010. Colorado as a whole is at 6.5%. Those may not sound like big numbers. However, to put that in perspective, only 3 states, plus the District of Columbia, grew more during that same period. New residents are more likely to find rentals than to purchase a home before getting to know the area.

Front Range Real Estate Bubble

The real estate market in Colorado as a whole is active and vibrant. There is a shortage of affordable houses on the market even for qualified buyers. The Boulder area, especially, has been experiencing activity not seen in years.

There is a shortage of homes and available houses are being sold at higher prices, many above appraised value. Driving the property values up leaves many otherwise qualified buyers moving to rentals until prices come back down to Earth.
People from across the country are being attracted to the Boulder area for many reasons. The existing residents are sticking around, despite recent hardships.  And as we look ahead to the summer of 2015, there is no indication that the Boulder rental market will be slowing down anytime soon.

 

Home For Rent in Boulder Colorado

Homes For Rent in Boulder County in Short Supply

Have you ever considered renting your home in Boulder County?  If so, NOW would be a great time to list it for rent.   Demand for single family homes for rent in Boulder is reaching peak levels that we haven’t seen before.

We’ve been hearing a lot about the Boulder County Real Estate Market, with houses going under contract in hours, multiple cash offers, and home buyers out-bidding each other to snag that not-so-perfect house in that not-so-perfect neighborhood.  But what’s going on in the Boulder rental market is equally as impressive.

Here at our Housing Helpers Boulder office we field hundreds of calls each day from prospective renters looking to move to our beautiful City.   Business as usual.   After all, there has always been a lot of demand for folks moving from other parts of the country to seek out the quality of life that we are so lucky to enjoy here in Boulder Colorado – aka “the bubble.   Nothing new to report here right?   Wrong.  Just when we think it can’t get any crazier, the Boulder rental market kicks it up another notch.

It seems that homes for rent in Boulder have now become so desirable, so unattainable, so attractive to renters from all over the globe that we now have achieved the same “feeding frenzy” level that we have in the Boulder real estate market.

Unfortunate or not – depending on which side of the equation you land on.   We are now seeing multiple offers on rental properties, renters competing for the same property, offering more rent trying to outbid the other, and yes renters even penning heartfelt letters to landlords about why they would be the best fit for the property.   Really?

The unfortunate part of this story is that many of these potential renters are arriving here looking for a homes to rent in Boulder without much of a clue as to the reality of the situation.  Often reality will set in only after they might lose out on a home they probably would have been just happy with -but they just waited a couple hours too long to “think about it”, and lost it.  And who can blame them?  It used to be you could take a few hours, heck even a few days, to think it over and make a comfortable decision.  Not anymore.  You have to show up with check book in hand, a perfect credit score, and willing to out-bid others.

One of the most important jobs we can do to help both renters and owners is to help them understand the Boulder rental market.  To educate them on what we are seeing day by day, and hour by hour.  We spend a lot of time talking to renters to try and set their expectations so they can be more prepared to secure homes for rent in Boulder.  To allow them to correctly budget and plan.  But there are always going to be surprises no matter how much you prepare.  Lately the advice seems to be consistent, if you find a place you think you might like- jump on it!!

Homes For Rent in Boulder

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Boulder home prices poised for growth

The bubble is secure.  The bubble around Boulder that is.  It appears Boulder home prices are once again headed higher.

Google recently announced its plans to expand their Boulder campus near the Transit Center at Pearl Street.  The city of Boulder has approved Google’s plans to expand to a three building campus that will now employ around 1500 people. A pretty significant increase from the 400 employees that currently work for Google in Boulder.

Most communities would be really excited to welcome so many new, high paying technology-based jobs in their community, but Boulder Colorado citizens have their concerns.

According to the CNN Money article, “In Boulder, Fear of A Bigger Boulder”

“The plan has locals worried about rising home costs and traffic. Dozens of residents have expressed their concern at city meetings and editorials in the local paper.

City Council member Mary Young has said she’s wary of becoming a “Silicon Mountain,” referencing the high cost of living in Silicon Valley.”

While some fear the rising cost of new homes, others will see the bright side and take advantage of the opportunity to invest in houses in neighboring communities.  Boulder has restrictions on new buildings which already leads to expensive Boulder home prices, so many people commute from neighboring towns like Longmont, Colorado.

Longmont’s home prices are much more affordable and they will likely see an influx of new home buyers and house renters from the new Google employees, or from current Boulder residents who decide to cash in on the high home prices by selling their Boulder homes and looking for a house in Longmont themselves.

Buying a home before the influx of new employees can lead to a quick profit turn around or a very desirable home for rental income. Investing in Boulder homes is always a great idea, but if the Boulder home prices are too much for your liking, you will find some really enticing home investment options in nearby cities.  We can help you find them.

Stephanie Iannone Real Estate Agent

Stephanie Iannone
Colorado Realtor

 

About Stephanie Iannone    

Contact Stephanie:
Stephanie@housinghelpers.com
303.641.7484

Real Estate Agents

Longmont affordable alternative to Boulder Rental Market

With the Boulder rental market still blazing hot, the trend is for renters looking for affordable rentals to move a bit further out. This is one reason why Longmont is becoming a Boulder County rental hotspot.

Longmont is a great town with plenty to offer both singles and families. From their annual Halloween and Christmas parades and celebrations, to breweries and restaurants, opportunities to live a vibrant lifestyle abound.

Another advantage that Longmont has great accessibility to Rocky Mountain National Park. A short drive will take you into the beautiful mountain town of Estes Park and the opportunity to hike, backpack, camp, or enjoy snowshoeing in the winter months in the Rocky Mountains. Weekends can be spent up in the mountains, escaping from it all without the traffic and travel time of other mountain destinations in Colorado.

Though rental prices in Longmont have climbed, along with other areas in Colorado, prices have not reached those in the Boulder rental market. And there are plenty of rental housing options in Longmont, from older ranch homes, just waiting to be taken care of, to five bedroom mansions built on open spaces. Smaller living options are also abundant from condo’s to beautiful apartments just waiting to be rented. The various housing opportunities in Longmont give owners and renters the chance to pick their perfect living situation and price range.

Longmont offers many employment opportunities with some of its largest employees being in the fields of education, medical, and technology. Larger cities such as Denver, Boulder, Broomfield, and Fort Collins are an easy shot along main interstates, making employment outside of Longmont a viable option.

From its beautiful vistas to its quaint downtown area, Longmont makes a great alternative to the Boulder rental market – and in general when renters are looking for affordable housing in Colorado, that still offers all the amenities that makes the Colorado lifestyle the best in the country.

If you are looking for rentals in Boulder County Colorado including rentals in Longmont you can contact us at Housing Helpers, we can help you find the right rental to suit your needs.

Read more Boulder County rental facts and news here:

Boulder Rental Market

Denver-Boulder Apartment inventory way up, rents still climbing

The Boulder and Denver metro area is a place where people want to be. According to a recent report from Fox31, in spite of a dramatic increase in the number of rental units being constructed in the past couple of years, rentals are hard to find and rents are increasing.

Between 2008 and 2012, only 2,700 apartment rental units were constructed in the Boulder and Denver metro area, the report stated. However, last year saw the construction of 7,800 apartment units and another 9,000 apartment are expected to be built this year. This has placed Denver metro on the list of the top ten markets showing the strongest growth of apartment inventory.

Colorado Daily reported in June that rents were 8 percent higher in the first quarter of 2014, as compared to the first quarter of 2013. They were 3.4 percent higher than the fourth quarter of 2013. The vacancy rate in May in Denver was 5.1 percent, slightly below the statewide average of 5.2 percent. Vacancy rates were even lower in other areas in the region such as Boulder and Broomfield, with the vacancy rate in the Ft. Collins/ Loveland market at 1.7 percent, the article stated.

It isn’t just apartment rentals that are hard to find, according to the Fox 31 report. Single-family homes are also selling quickly in the metro area, sometimes even before the foundation has been poured. Buyers were cautioned to do their research before beginning their search, to be prepared to put in an offer quickly on the property they like, and to even be prepared for bidding wars.

If you’re looking for a house, apartment rental, or condo to rent or are even considering buying a home or investment property in the metro area, let Housing Helpers assist you. We’ve been in the business for decades and we know the area and the properties that are available extremely well. We believe in giving you options and exploring all of the possible solutions in order to connect you with the place that is right for you.

For more information about the real estate or rental housing market in Colorado, contact us today.  303.545.6000

Boulder Apartments         Denver Apartments

Colorado Apartments For Rent

Boulder Creek Apartments Table Mesa

The Table Mesa neighborhood in South Boulder

One of Boulder’s great, and active, real estate markets is the Table Mesa neighborhood Boulder. Divided into North (Enchanted Mesa) and South, Table Mesa is nestled in the foothills south and west of the downtown area. Home to the iconic I. M. Pei building and hosting lots of beautiful nature trails for wandering, Table Mesa is an attractive place to raise a family while still being convenient to all that Boulder has to offer. Viele Lake, the Harlow Platts Park and the South Boulder Recreation Center are some of the attractions that draw potential homeowners to this area

That I. M. Pei building is home to the National Center for Atmospheric Research, NCAR, including the Mesa Lab Visitor Center, which features free exhibits about weather and climate and is open daily. They also let anyone traverse the steep, winding and scenic road to the lab from 6:30 am until dark, weather permitting. This allows bicyclists, runners, pedestrians, photographers and general nature lovers (including dog-walkers, as long as those dogs remain on the leash) to explore and enjoy this lovely mountain sanctuary.

Statistics show that Table Mesa neighborhood Boulder homeowners have average household incomes significantly higher than the Boulder average. However, the average estimated value of Table Mesa South detached homes in 2010 was nearly $90,000 lower than the average Boulder house. It’s therefore not surprising that the Table Mesa real estate scene is hot, with 6 active listings, 7 houses under contract, and 42 homes sold within the past 6 months. This means that, if no new homes were to come on the market, existing inventory would be gone in under two months. So if you’re thinking about purchasing in this desirable area, you won’t want to drag your feet.

Homes for rent in the Table Mesa neighborhood Boulder are equally in high demand.   Rental homes in Table Mesa consistently command much higher rental rates than other neighborhoods of Boulder.   When homes are listed for rent in Table Mesa we are seeing them snatched up within days.   One of the reasons for the tight rental market in Table Mesa is the lack of apartment rental inventory.  There are very few apartments in the Table Mesa area. The largest apartment community in the Table Mesa area is Boulder Creek Apartments.  Here you will find one bedroom apartments and townhomes rental ranges ranging from $1254 to over $2400 per month.   Two bedroom apartment homes in the rent range of $1600 per month to over $3,000 per month.  The overall vacancy rate in Table Mesa is less than 2%.  (rental statistics as of the time of this post).

The Table Mesa neighborhood Boulder is recognized as a neighborhood with stunning Colorado scenery, excellent schools, outstanding access to trails and outdoor recreation, and great proximity to the University of Colorado, downtown Boulder, and easy access to major transportation routes to Golden and Denver. Statistics show that Table Mesa can be a more expensive part of Boulder for renters and home-owners alike, and that there is a limited supply of housing available in this part of town.  For newcomers, you will need to be patient to find your ideal home in Table Mesa.

Our Boulder Realtors can help you track the real estate market in Table Mesa to find your dream home.  And our Boulder rental specialists can help you track the rental market in Table Mesa.  Either way, we’ve got you covered! 

Boulder Rental Properties   Boulder Homes For Sale  

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Homes here are going fast, so let Housing Helpers find you the perfect home in Table Mesa today.

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