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Moving to Denver: Market Update

A City on the Rise

Moving to Denver is an exciting experience. We are currently attracting well educated young professionals, retirees, students, and people just looking for a better climate and lifestyle. Denver has a relatively mild climate with many outdoor activities like Skiing and hiking as well as great beer, sports teams and a growing foodie scene.

So it’s no surprise people are taking notice (and probably why you’re reading this now).

Redefining Apartment Living

Over the last few years Downtown Denver has had a total remake including thousands of brand new upscale apartments. Along with rising prices, these communities bring convenience and luxury to living in Denver to a whole new scale. Working with more than 600+ communities, we’ve seen about everything including:

  • Rooftop pools
  • Heated garages
  • On-site personal trainers
  • Maid and pet walkers on call
  • Valet car parking
  • Bike repair shops
  • Dog washes
  • On-site markets

Of course, not every property boasts all these amenities (nor should they). However, this level of service in so many downtown Denver apartments means renters can not only enjoy more upscale options but also the more typical amenities are becoming common place (dishwashers, garages, etc).

Additionally, 2016 will see another 1,000+ apartments added to the market. Many of these properties are going into the suburbs like Littleton, Lakewood, Denver Tech Center, and Aurora — in addition to growing neighborhoods such as Sloans Lake.

The great thing about these apartments is the location. Most of these brand new apartment communities are built on the light rail.  For a map of the light rail system visit RTD here.

Many Denver apartment communities advertise direct access to the light rail but that may not be the case.  Still, with an overall approval rating of 4.2 out of 5 even if you have to make one transfer from bus to light rail these properties will still be a good option.

Apartment Units Up, Vacancies Down

Despite the additional properties coming to Denver, the influx of people is still outpacing construction. Ongoing reports show vacancies (the amount of available rentals) continue to shrink — and available rent specials and good deals shrink right along with it.

Fortunately, Apartment Guyz are experts in researching options for you. Find affordable luxury Denver rentals that best fit your needs based on personality, commute, budget, credit standing, location to public transit, and more.

Contact Apartment GuyZ today at 303-649-0705 or start your search now.

Average rents in Denver hit $1049.

Are you curious about the average rental rates in Denver?  As of October 2013 the average rental rate in Denver is $1049, up 6% since October 2012.

Average price of a 1 bedroom in Denver:

Low End Low:  $750
Luxury High: $1450

Average price of 2 bedrooms in Denver:

Low End Low:  $950
Luxury High:  $1845

Almost 3,000 new apartments have been added this year but vacancy is still hovering around 5% because many older apartment communities are renovating keeping vacant apartments off the market for longer periods, and new construction apartments are not hitting their timelines pushing available dates of new apartments back.

It’s estimated that we will see over 10,000 new apartment units delivered in 2014.  Combine those units with the release of renovated apartments that are offline in 4th quarter 2013, and current apartments under construction that got pushed to 2014 and there may be some relief for renters as occupancy is projected to fall in 2014.

Apartment Guyz has already noticed a rise in specials and availability as properties try to maintain that 5% vacancy.

How can Apartment Guyz find you a better deal?  Apartment managers often reduce their marketing budgets significantly and increase renewal rates for existing renters significantly when occupancy hits 94% or better.  This creates a barrage of move outs, and a sleepy period of move ins reducing occupancy seemingly overnight 5-10%.   Then laws of supply and demand for Denver apartments takes over.  Prices drop and rent specials increase.

Apartment Guyz is always monitoring and updating hundreds of rentals daily.  When we find the good deals, we react quickly to ensure you get the best rate possible.

Want more information on Denver apartments and average rents?  Apartment Guyz has the 411 on average rental rates, good deals, area advice, and neighborhood information.  We use this to make sure renters get a great deal on apartments that fit their personality as well as budget.

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