Denver Metro area vacancy rates are at all-time lows! Look at these figures: In 2004, the vacancy rates in Denver Metro area (1-4 unit properties) was 13.1%. In 2010, that figure dropped to 2.0% from 5.2% in 2009.
Why are vacancies so low? High occupancy in the rental-housing market is being driven by economic concerns such as job security:
- many consumers feel it's less risky to rent a home than to buy one
- There are large impediments to buying new homes, even if a consumer wants to.
Less ability/desire to buy homes = more tenants
It is a myth that there is no lending for investors. An investor with a decent FICO score, 20% to put down, a reasonable level of debt and a job for the last 2 years can buy a rental property with 30-year fixed rates that have never been lower.
Now is the time to invest in rental properties in the Denver metro area.
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