The Denver Rent Market
Unless you’ve been living under a rock, you know that Denver’s housing market is on fire. Last time we drove through the city, there were more than a dozen cranes framing the skyline. Thousands of people have started migrating to Denver and apartments, condos, and homes are being built quickly to meet the demand.
And here’s the problem. Even with buildings going up left and right, there’s a shortage in the market for rentals. According to the Apartment Association of Metro Denver, the average Denver vacancy rate is 5% in Q2 2017. This means apartments are operating at 95% occupancy. When you factor in folks who are switching between apartments and the time it takes to flip a unit, you’re looking at nearly 100% occupancy in the Denver market.
What’s The Average Rent Around Denver?
That means property management companies can command a hefty chunk of money for homes that don’t have that much square footage. That same report indicates the average rent in Denver is $1,420 for a unit. That is up $50 from the same time in 2016 and $155 from $2015.
So if you can find an apartment that is more in your price range, it would be worth shopping around for some Denver apartment movers to get you resituated, financially speaking. Paying a moving company to get you across town could save you hundreds if not thousands of dollars over the course of a year.
Consider this: In Southwest Denver, the average rent is $1,444. The average rent in Lakewood is $1,277, a difference of $167. That’s more than $2,000 in the course of a year.
Not only would a move like that be a smart financial move, it would be wise geographically. As the population continues to swell, the quality of life that attracted many will be more in demand. A home in Lakewood puts you closer to the mountains, closer to fresh air and open space, and more in the know about houses (to eventually buy) that will be cheaper than the Denver city.
But if you’re like thousands of others who have settled into Denver seemingly overnight, it might be hard to round up a ton of friends to help you move your stuff more than once. In-Denver small moves don’t have to break the bank if you just have some furniture you want moved to start over at a new spot.
Sometimes when moving to a new city like Denver, you simply have to pick a place to live. In this situation you may end up not being in love with where you initially chose but remember, it’s perfectly normal to move and change areas as you get to know the city. If you’re considering any size move within the greater Denver area, or across Colorado we’re here to help! Homegrown Moving can facilitate any of your moving needs, large or small. So give us a call at 303-587-6200!