I have been watching for this: \tMore Denver Renters a Good Sign for Denver Homeowners A recent study by TransUnion LLC, a credit information-management service, offers yet more proof that people want to live in the metro Denver area. According to the study, average rental charges for apartments in Denver have increased more than 10 percent in the past year, which would indicate that Denver's economy is strong enough to be drawing in new residents. At a time when U.S. vacancy rates for rentals were at their lowest in ten years, Denver's average rents went from $777 in Q4 2010 to $857 in Q4 2011. Average national rents went from $831 to $820 for the same time period. This data, pulled from over 200,000 rental applications of property rental managers who used TransUnion rental screening solutions, is even more significant when you factor in tightened acceptance criteria for renters, such as higher deposit amounts. If you guys and gals can help me we can post new articles about housing construction/improvements and real estate booms,,the Green Rush of 2014 has started and we can record it here. Also looking for unemployment statistics,,,as more commercial grows come on line CO should show an improvement,,depending on the influx of new citizens. If unemployment goes up,,illegal grows will probably increase,,IMO
No shit, I've recently flew out there from NC to love at Apartments and renting there is def not cheap. There's very little to no student housing so It looks like I'm going to be paying 700+ for a small ass loft in downtown Denver. I'm moving from a brand 2 story townhouse with granite countertops and the works paying $525. I only wish I had made the move sooner.
Wow, 700 for a cheap apartment? I live with my parents in a big ass house in TN and we pay 500 a month... That's crazy, man!
Still cheaper than this damn state.. 2BR apartments 1BA going from $900+.. and i'm about 10miles from Atlantic City, not some huge booming city like Denver,
In the denver/boulder area, and I pay 1600 for a 2 bedroom 2 bath house. Food is fairly expensive here, and child care is over 1000/mo.
Yep same here on Long island, esp in Suffolk county. If you want to live in any of the nice towns its over 1000 a month for a 2 bed room apartment.
There are decent and cheap areas in Lakewood, Arvada, Wheat Ridge and other places. You're still within ~20 minutes or so to downtown Denver.
When I grew out of my small hometown I went too the Dallas area because of easy employment but couldn't stand living in Dallas,,it was always cheaper to add a drive to and from work than live next door to your job. The suburbs offer all kinds of benefits over living in a big city IMO.
The green rush is definitely having an effect on the local real estate market. Just look at how all the warehouse spaces have disappeared. Residential real estate is improving; with some remaining slow pockets of markets in the suburbs, which are the places everyone is moving to... Speculators and flippers are already busy...
This is an indictment of peoples' woeful earning power in the present economy, and the hugely over-valued real estate market, moreso than any benefit of legal weed being realized I have a feeling. These same housing/rental trends are happening everywhere. Fewer qualified buyers for the tempting dirt cheap mortgages and over-priced houses means more renters because they don't qualify for mortgages, and rents go up with demand going up. They can spin it as a "green boom" but I don't think that is the case. I think you'd have to closely monitor population sizes in CO cities to know if a "boom" was truly occuring. Transunion gets a shit ton of money running credit checks whether people qualify or not. Just a SLIGHT conflict of interest here.
But wait its legal. Who cares. Lol. There is more to life than smoking weed kids. I live in NorCal 4bd 2b on 2 acres of 1k bucks a month. 24 outdoor monsters. More than pays for it self.
Crazy, I live in eastern Washington and am buying a house for around 1000 a month. A nice house to, prices re reasonable..
Prices are much less on the western slope. The article linked by the OP was definitely fluff; warehouses are tight, but Colorado is like the rest of the country; recovery is irregular and slow in lots of places, with the shed load of crap construction modern homes on the market that need to be sold to someone.
Its better to live in the suburbs. Its always cheaper there no matter what city. I live in a suburb about 10 minutes from downtown kc and pay about 300 less a month than people downtown do, for an apartment that is nicer.