Colorado

Colorado Rental Housing Journal is published monthly for Colorado subscribers.

December

Colorado Rental Housing Journal December 2022 helpful, useful content for rental property owners, property managers and landlords

November

Colorado Rental Housing Journal November 2022 helpful useful content and information for rental property owners, landlords, property managers and maintenance personnel

October

Colorado Rental Housing Journal October 2022 helpful, useful content for rental property owners and managers

September

Colorado Rental Housing Journal September 2022 helpful, useful content for rental property owners and managers

August

Colorado Rental Housing Journal August 2022 helpful, useful content for rental property owners and managers

July

Colorado Rental Housing Journal July 2022 helpful, useful content for rental property owners and managers

June

Colorado Rental Housing Journal June 2022 helpful, useful content for rental property owners and managers

May

Rental Housing Journal Colorado May 2022 helpful, useful content for rental property owners and managers

April

Colorado Rental Housing Journal April 2022

March 2022

Rental Housing Journal Colorado March 2022 helpful, useful content for rental property owners and managers

February 2022

Colorado Rental Housing Journal February 2022 helpful, useful content for rental property owners and managers

January 2022

Colorado Rental Housing Journal January 2022 helpful, useful content for rental property owners and managers

December 2021

Colorado Rental Housing Journal helpful, useful content for rental property owners and managers

November 2021

Colorado Rental Housing Journal November 2021 helpful, useful content for rental property owners and managers

October 2021

Colorado Rental Housing Journal for October 2021 helpful, useful content for rental property owners and managers

September 2021

Colorado Rental Housing Journal for September 2021 helpful, useful content for rental property owners and landlords

August 2021

Colorado Rental Housing Journal August 2021

July 2021

Colorado Rental Housing Journal July 2021

June 2021

Colorado Rental Housing Journal June 2021

May 2021

Colorado Rental Housing Journal May 2021Denver passes law requiring rental property inspections

April 2021

Colorado Rental Housing Journal April 2021

March 2021

Colorado Rental Housing Journal March 2021

February 2021

Colorado Rental Housing Journal February 2021

January 2021

Colorado Rental Housing Journal January 2021

December 2020

Colorado Rental Housing Journal December 2020

Rental Housing Journal Colorado November 2020

November 2020 Colorado Rental Housing Journal

Rental Housing Journal Colorado October 2020

Colorado Rental Housing Journal October 2020

Rental Housing Journal Colorado September 2020

Colorado Rental Housing Journal September 2020

 

 August 2020

August 2020 Colorado Rental Housing Journal

July 2020

Rental Housing Journal Colorado July 2020

June 2020

Colorado Rental Housing Journal

Rental Housing Journal Colorado May 2020

Colorado Rental Housing Journal May 2020

Rental Housing Journal Colorado April 2020

Rental Housing Journal Colorado April 2020

Rental Housing Journal Colorado March 2020

Rental Housing Journal Colorado March 2020

February 2020

Colorado Rental Housing Journal February 2020

January 2020

Rental Housing Journal Colorado January 2020

December 2019

Rental Housing Journal Colorado December 2019

Rental Housing Journal Colorado November 2019

Rental Housing Journal Colorado November 2019

October 2019

Rental Housing Journal Colorado October 2019

September 2019

Rental Housing Journal Colorado September 2019

August 2019

Rental Housing Journal Colorado August 2019

July 2019

Colorado Rental Housing Journal July 2019

June 2019

Colorado Rental Housing Journal June 2019

May 2019 Print Edition

Rental Housing Journal Colorado May 2019 helpful, useful information for property managers and landlords

Colorado April 2019 Print Edition

Rental Housing Journal Colorado April 2019

Colorado March 2019 Print Edition

Rental Housing Journal Colorado March 2019

Colorado February 2019 Print Edition

Rent growth in Colorado February 2019

Colorado January 2019 Print Edition

Stronger rent growth in January 2019

Colorado December 2018 Print Edition

Rental Housing Journal Colorado apartment news and helpful, useful information for multifamily professionals

Denver Multifamily Growth Climbs Higher

Denver’s multifamily market remained hot going into 2019, boosted by a decade-long economic and population boom that has transformed the metro, particularly its urban core, according to Yardi Matrix summer 2019 report.

Drawn by the market’s strong fundamentals, multifamily developers ramped up deliveries in 2018, when a massive supply wave of 15,984 units came online for a new cycle high. As a result, the occupancy rate in stabilized properties dropped 40 basis points over 12 months, to 94.7% as of April, the Yardi Matrix report says.

Denver rent trends

  • Rents in Denver rose 1.8% year-over-year through May, trailing the 2.5% national rate. The metro’s average rent stood at $1,545, above the $1,442 U.S. figure. Following the delivery of 15,984 units last year, occupancy in stabilized properties dropped 40 basis points over 12 months, to 94.7% as of April, slightly below the 94.9% national average.
  • Rents in the working-class Renter-by-Necessity segment rose 2.3% to $1,309, while Lifestyle rates were up 1.6%, to $1,727. Demand across asset classes remained strong in Denver, bolstered by above-average population growth, robust household formation and consistent employment gains, especially in high-paying professional services. Considering an estimated supply of more than 10,000 new apartments this year, as well as the positive outlook for the metro’s long-running demographic and economic boom, Yardi Matrix expects the average Denver rent to advance 2.6% this year.
  • Rents rose fastest in Brighton (6.2% to $1,526), Windsor/Greeley West (5.4% to $1,358) and Boulder (5.1% to $2,002). The CBD/Five Points/North Capitol Hill submarket, which boasts the largest pipeline and highest transaction volume, saw rents rise 2.1% to $1,970. Rents declined in Champion (-1.0% to $1,517), Fort Collins–South (-0.9% to $1,366), Longmont (-0.6% to $1,420), Fort Collins–Central (-0.1% to $1,444) and East Colfax/Lowry Field/Stapleton (-0.1% to $1,535).

Multifamily supply outlook

A total of 26,835 units were under construction in Denver as of May, most of them in Lifestyle developments. In 2019 through May, 1,857 units were completed, or 1.0% of the metro’s total stock. This follows last year’s 15,984-unit cycle peak, representing 6.1% of total stock, well above the 2.6% national average. The wave of new deliveries has put downward pressure on occupancy, which stood at 94.7% as of April, down 40 basis points year-over-year and below the 94.9% national average, Yardi Matrix says in the report.

  • The metro’s multifamily pipeline also included 58,307 units in the planning and permitting stages as of May. As Denver’s population is estimated to continue growing at twice the national rate through 2019, demand is expected to keep up with supply this year, supporting further rent gains.
  • Developers are heavily targeting the CBD/Five Points/North Capitol Hill submarket, which had 6,137 units underway as of May. The vibrant city center added 5,490 jobs in 2018, a 4.1% increase, according to the latest State of Downtown Denver report, while its population rose 13%, to more than 25,000 people. More growth is expected for the area, which is estimated to host 33,000 residents by 2023. East Colfax/Lowry Field/Stapleton had 2,489 units underway, followed by Champion (1,935 units).