Strong Rental Market in Denver ARTICLE
Here’s a great article on the strong rental market in Denver.
Are we becoming a nation of renters?
Maybe—at least for now.
But that depends upon how you interpret recent real estate trends and statistics from several different sources. A Feb. 9 report from the federal government said that one out of four American homeowners are under water on their mortgages, making refinancing either difficult or impossible and increasing the chances of foreclosure. Many former homeowners have already fled to the rental market, escalating demand and hiking rents in urban areas.
An end-of-year report from the Colorado Division of Housing shows that apartment vacancy rates in metro Denver hit their lowest mark in over a decade and rents have climbed accordingly. Vacancy rates dropped to 5.4% in the fourth quarter of 2011, the lowest since 2000, when they reached 4.7%. At the same time, average rents in Denver last year spiked 2.8% to $870 a month.
Check out the rest of the article on the strong rental market in Denver here
Related Entries:
- 2010 vs. 2011 – Denver Metro Real Estate Statistics Compared (5 Counties)
- Great Resources for Rental Comps
- Denver Vacancy Rate Hits 10 Year Low
- EcoSystems Property Management will efficiently manage your Metro Denver rental property. premium http://t.co/tgin4ME
- Beirut’s Real estate market continues to grow – Damac – Zawya
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