DENVER (KDVR) — A new report shows renter activity is up in Denver as rental applications start returning to pre-pandemic levels.
According to analysts at Yardi Matrix and RENTcafe.com, the Denver market is considered exceedingly positive right now when it comes to renting either an apartment or a home.
Brand new data shows Denver’s renter activity is up by 33% since last year.
Nationwide, overall renting activity only went up by 13%.
Research from RENTcafe.com shows the surge here in Denver is being driven mainly by apartment dwellers moving into the city.
In fact, the number of renters moving to Denver from somewhere else increased by 47% in the first half of 2021, according to the data.
The report shows most of these rental applications are coming from neighboring cities like Aurora, Colorado Springs and Lakewood.
Despite current housing obstacles, experts say Denver has the economic and employment diversity increase needed to sustain a healthy housing market.
“There’s a shortage of housing as everyone knows, so what we see in the peripheral we call the exerts, we see a tremendous amount of housing that’s going to be coming on board, probably about 19,000 units,” explained Doug Ressler, Manager of Business Intelligence with Yardi Matrix.
According to the Apartment Association of Metro Denver, the average monthly rent in the Denver metro area is currently hovering around $1,651.
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