Think it’s tough to find a nice place to live? The single family rental vacancy rate (homes, not condos or apartments) fell to 2.8% in the first quarter, the lowest figure in the 19 years the statistic has been tracked in the Denver Metro area.
Unemployment is at 4.4%, Colorado’s population is growing by over 2% per year, and we just had our largest “in-migration” year since things were going strong during the tech boom of 1998 – 2001.
New construction permits fell by 49% last year as builders shut down operations. The “credit crunch” has transformed over 40,000 former homeowners into renters, and restricted lending guidelines are making it more difficult for entry level buyers to purchase a first home.
Where do you think rents are going from here?
Unemployment is at 4.4%, Colorado’s population is growing by over 2% per year, and we just had our largest “in-migration” year since things were going strong during the tech boom of 1998 – 2001.
New construction permits fell by 49% last year as builders shut down operations. The “credit crunch” has transformed over 40,000 former homeowners into renters, and restricted lending guidelines are making it more difficult for entry level buyers to purchase a first home.
Where do you think rents are going from here?
