Rental market still growing!
According to the Denver Post, Metro Denver rents continue to rise as supply of apartments increases. In their July 23 article, the Post states: "Nearly 1,300 new apartments were added to the metro Denver rental inventory during the second quarter, but rents still edged up and vacancy rates declined. Average monthly rents hit $1,117, up from $1,073 in the first quarter and $...1,041 in the fourth quarter of 2013, according to the Denver Metro Vacancy & Rent Survey. Vacancy rates are at a low 4.7 percent, down from 5.1 percent in the first quarter. Even with the added new apartment units in the second quarter, that's not enough to meet demand. "The state of Colorado believes that we will create seven jobs every hour in 2014," Hawks said in a statement. "Five Colorado residents turn 20 years old every hour, but we are only delivering one new apartment unit per hour."