The vacancy rate for affordable rental housing in the state dropped to 4.7 percent during the second quarter, according to a report released Monday by the Colorado Division of Housing and the Colorado Housing and Finance Authority.
That’s down from 6 percent during the first quarter. Denver’s rate for affordable housing is just 4.3%.
This is good news if you are a landlord with homes at the lower end of the market. Although foreclosures are forcing prices down right now, eventually the subprime foreclosure supply will dry up, forcing prices back up.
And, consider this… just where exactly are they building cheap housing these days within the Denver metro area? Affordable housing is one of the magnets that has helped propel Colorado into the ranks of the fastest growing states in the country. Owning a few houses at a price point that only figures to grow in demand can't be a bad thing...