October 25, 2021

Rocky Daily News

Colorado Politics-Sports-Business-Weather

COLORADO REAL ESTATE: You have to make at least $25/hour to afford a decent 1 BR apartment in Denver

1 min read

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DENVER (KDVR) — New data shows apartment construction rates in the Denver metro-area are down considerably compared to this same time-period last year.

According to the new numbers from RentCafé, the Denver metro-area is only expected to add 5,581 new units on the market by the end of the year, which is about half of the apartments delivered to the Mile High City in 2020.

Analysts said this is the result of two main factors: a distressed population and a decrease in net inbound migration.

Overall, construction rates are down by 46% this year in the Mile High City, mirroring the number of apartments we had delivered five years ago.

According to the data: in 2017, only 5,777…

Kevin Torres

2021-08-26 08:28:36

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