New Apartment Development Driven By Employment

May 29, 2013

Apartment developers will finish about 4,200 units in metro Denver before 2013 is over, with most of those being built downtown.

“So much of this is driven by employment right now,” said Ryan McMaken, an economist with the Colorado Division of Housing. “Vacancy tends to increase with joblessness.”

Despite the new apartments becoming available, vacancy rates continue to drop, and as expected with vacancy rates that low, rents in most markets around metro Denver continue to grow.

Look at the growth from last year.

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