The demand for new apartments, job growth, RTD’s FasTracks transit project, and climbing rent are all factors in the continuing of Denver’s apartment construction boom. Denver’s market was among the country’s top markets for completion of new rental units in the first quarter of 2014 (2,312), and the number is expected to exceed 9,000 units by the end of the year.
The year before, Denver completed 7,800 units compared to just 2,700 units completed for the 2008 to 2012 time period.
With that demand, Denver apartment rates are also skyrocketing with the nation’s fourth-strongest rent inflation, a 1.9 percent jump from the end of 2013 to the beginning of 2014. That’s just behind Oakland, San Jose and San Francisco.
Denver’s rent growth is also intensifying as one of the top performing non-coastal cities in the country with 8-10 percent annual rent growth.
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