I came across a great article in Business Week about the rental market and rents. Here was the quote comparing Denver vs. other national markets. 

BusinessWeek teamed up with Reis to come up with the 25 most affordable large metro areas in terms of rents as a portion of local income. Oklahoma City, where people spent just 12% of their income on rent, was the most affordable. Other cheap markets included Indianapolis, Denver, Fort Worth, and Cleveland.

I've got some theories about why this is, but as a real estate agent I prefer to use raw data.  What I found encouraging is that this holds better for the Denver market compared to New York City.  In NYC people spend 58% of there income on rent.  The lowest was Oklahoma City where it was only 12%.  Which city do you think will be harder hit by an economic slowdown?  Which city will recover faster? 

On a side note for anybody who is looking at investing in apartments in Denver, Colorado I have incredible market data.  If someone wants a 2/1 I can tell what the average rent is depenind on what part of town and even the price difference if there is on site laundry versus not having it.

On a side note if you are interested in apartment for investment property on a nationwide basis please drop me an email.  I'm on several REO lists, but my current clients are only interested in the Colorado market.

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CONTACT ME I CAN HELP!  IF I CAN'T, I KNOW WHO CAN

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Mike Henderson specializes in the following areas in real estate in the Denver, Colorado metro area; investors, first time homebuyers, luxury property, short sales, and light rail properties.  Of course I can also provide financing or refinacing across the state of Colorado.

 

 
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1 Comments on Denver as an apartment rental market - and nationwide data as well

OCT
07
2009

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6:34am • #1


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Mike Henderson 303-949-5848 HUD Home Hub

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View from the ground level in the Colorado Mortgage and Real Estate market. Areas of Specialization 1) Investors 2) First time homebuyers 3) Luxury Properties 4) Short sales 5) Light rail properties Financing for all the above type transactions whether you are looking for FHA, conventional mortgages, 203 (K), streamline, hard money, private money, or non traditional financing like lease options I can help. Subscribe in a reader


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