We have previously reported declining multi-unit vacancy rates (6.7%) and increasing rents (up by 2.6% in the third quarter) in the Denver Metro Area (denverpost.com). Seeing an opportunity, larger buyers have moved into the Denver market from other states to invest in the undervalued multi-unit apartments.
The Colorado Division of Housing recently released their most recent Vacancy and Rent Survey for the larger Colorado areas outside of the Denver-Boulder area. Areas in the under 3% vacancy range are: Aspen, Eagle County, Grand Junction, Glenwood Springs, Gunnison, Salida, Buena Vista and Alamosa. All of these are in the mountain areas. In the 3-5% range are Durango, Southeastern Colorado and Canon City. Some of the areas in the over 5% vacancy category are: Greeley (7.3%), Loveland (8.0%), Fort Collins (8.1%), Steamboat Springs (8.6%) and Colorado Springs (11.3%).
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