How today’s cycle compares to past decades
We’re all aware of what seems to be a building frenzy in the apartment sector in Denver, accompanied, until recently, by strong rent growth.
CREJMay 15, 2016
Median rental rates vary by $100s across city
Three years ago, about 30 percent of renters in the Denver area paid rents below $1,000. That number now sits at 11 percent, as of the last Multifamily Housing Council survey. While rent increases are widespread, not all neighborhoods are experiencing the same effects as the macro environment. Using 21,000 available apartments listed on Zumper over the end of 2015, we examined which areas felt the greatest effects.
CREJFebruary 13, 2016
Survey reveals Denver renter expectations
Renting is hot! For some, it’s a lifestyle choice. For others, it’s a financial decision. Whatever the motivation, the rise of renting means the U.S. added 1.6 million new renters over the past five years. These renters, from millennials to baby boomers, are driving new development and raising the expectations of amenities and services. Some in the apartment industry might say it’s sparked an amenity war in search of the answer to the question: What do renters really want?
CREJFebruary 12, 2016
New wood-frame codes allow for more flexibility
From the construction of tenements in the 1800s to the high-rise steel and concrete luxury residential towers built today, for-rent housing has come a long way. But one constant is the use of wood to build rental housing. Over the years, architects and engineers have pushed the limits of what wood can do, and the adoption of the 2015 International Building Code allows this to continue.
CREJJanuary 26, 2016
Out-of-state buyers show affinity for Colorado
Purchasing an apartment building in Colorado has proven to be challenging due to the growing number of buyers lining up to acquire a limited number of available properties. For certain assets, it is not uncommon to receive upward of 20 offers.
CREJJanuary 25, 2016
Pre-1990 construction cap rates closing the gap
The vitality and distinctiveness of the Denver economy are driving new businesses and households to relocate to the metro, propelling apartment demand at a rate greater than supply growth. Drawn by the strong job market and high quality of life, new residents boosted population growth in the last year to more than double the national average.
CREJJanuary 25, 2016