Denver Apartment Boom: What it Means for Renters

Denver Apartment Boom: What it Means for Renters

After years of stagnation, Denver is experiencing an apartment boom. But what does that mean for renters?

Not as much as one might hope, according to predictions by MPF research.

According to them, while apartment developers began an aggressive building spree it is largely upset by the droves of new job seekers in the Denver metro area.

In fact, the Denver Business Journal reported recently that average rents climbed again in the fourth quarter of 2014, increasing by 12 percent to $1,168 from $1,041 in the same quarter of 2013.

So while business is booming, it appears that 2015 will still be a tough rental market. That means deals and units  — unless vacancies increase — are harder to find without help.

Finding a silver lining

The good news?

Denver’s vibrant economy creates jobs, which typically generates apartment demand and investment.