Tag Archives: Denver 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

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Denver apartments in high demand as renters compete for properties

Apartments in Denver are in high-demand leaving many renters with few options. A recent article in the Denver Post details a study done by the Apartment Association of Metro Denver and the Colorado Division of Housing, stating that the apartment vacancy rate for metro Denver is at its lowest since 2000 and that rental rates increased by 4.3 over the past year to an all-time high of $1,022.

Several factors are contributing to the shortage of apartments in Denver.  One factor is the lack of new apartment inventory that has been added to the Denver rental market in the last several years, as the economy was sluggish. The inventory of apartment units was at an all time low coming out of the economic recession.   Now the that the job market is on the recovery in Denver there are a lot of new apartments being built.  But the time to develop and build new apartments and bring them to market is a transitional time that can take 18 to 24 months.   This “catch-up” time will be a transitional time where we could see a shortage of apartment inventory continue for a year or two.

Another factor causing tight vacancy is the influx of new workers taking advantage of the recovering job market within Denver.  Metropolitan Denver is a very desirable area to live due to it’s quality of living including vibrant culture, recreational abundance, reasonable cost of living, trendy dining options, and exciting nightlife.  Job seekers in their twenties and thirties are relocating to the Denver area in large numbers seeking better quality of life and fairly affordable living in comparison to major metro areas on the East coast and West coast.

Renters should be prepared to act quickly.   The apartment shortage in Denver leaves many renters taking whatever apartment they can find but  not always what they desire.  The tight rental market means units come and go it a matter of days, even hours in some cases, making it challenge for renters to spend time doing research on rental properties.    At Housing Helpers we are recommending that renters go to showings ready to put down a deposit on the place if they like it- if they hesitate chances are it will be rented before they know it.

Renters should seek whatever advantages they can to find properties, including the latest technology.  For renters, it is so important to have the latest data on available properties so as soon as they come available you don’t miss out on any opportunity.   Often when searching on line at sites like Craig’s list, the listings may not always be constantly updated.  At Housing Helpers we have a great system in place for renters that are signed up with us to receive daily updates of new properties as soon as they hit the market that match the renters criteria, price range, and neighborhood preferences.  Getting this data to the renters quickly helps them immensely in this competitive rental market.

Renters may consider alternatives to the metro Denver rental market which will give them more options to choose from.   The greater Denver area including, Broomfield, Golden, Lakewood, Highlands Ranch, Parker, Aurora, Westminster, Thornton, can offer more rental opportunities then the metro area and offer access to local amenities as well a reasonable commuting proximity to downtown.  They also tend to offer much more open space and access to many parks and recreational opportunities.

Housing Helpers is a full service Denver apartment finder and rental locating service that helps renters with finding an apartment rentals in Denver as well as condos and homes for rent.  If you would like more information on rentals available in Metro Denver or any of the Front Range cities, please contact us

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