Current outlook for Denver rentals
Denver apartment prices are still rising. The cause? Over 4,000,000 more renters in the U.S. marketplace vs. this time in 2007, and lack of the addition of new apartments. Even though 96% of renters surveyed say they plan to buy in the future prices are quickly rising on home prices due to lack of new home construction.
Soon home prices will be beyond the reach of renters in the under 54 age group. Additional funding issues like high personal debt to income ratios are keeping would be home owners in the rental market longer.
Everything is pointing towards higher rents, and Denver is on the leading edge. There is some relief coming. New home construction is up 60% since this time last year and new home inventory is up 12%. Additionally, an estimated 19,000 apartment rentals will be coming online in 2014 and 2015. Both of these factors will most likely not bring down rent prices but may slow rent price increases and increase rent specials for renters.
Yes, I said rent specials
There are good deals to be found. True, it’s like finding a needle in a haystack, but that’s what Apartment GuyZ does and if you are moving to Denver, Apartment GuyZ tracks rents and specials daily. Our database and and of almost 300 properties with over 4,500 apartments, townhomes, and lofts available help you find that needle.
Rent specials typically start in late November and early December, but this year apartment rent concessions like one month free rent started in early October making November the busiest rental month of 2013.
December and January is already boasting some of the best rent specials of the year. Rents are still high, but getting free rent up front or spread out over the course of a lease, drastically reduces the rental rates in Denver by as much as $200 a month.
To find the best apartment deals in Denver, and affordable luxury rentals call Apartment GuyZ today or use the contact form on this site to start your search now.