{"id":1224,"date":"2021-06-28T10:56:15","date_gmt":"2021-06-28T10:56:15","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=1224"},"modified":"2024-02-06T11:16:46","modified_gmt":"2024-02-06T11:16:46","slug":"denver-multifamily-market-report-summer-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/denver-multifamily-market-report-summer-2021\/","title":{"rendered":"Denver Multifamily Market Report \u2013 Summer 2021"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Recovery Strategies Start Taking Shape<\/h3>\n\n\n\n<p>As Denver gradually enters its recovery phase, local authorities are implementing Denver\u2019s Rebuilding for an Inclusive and Sustainable Economy plan\u2014dubbed RISE Denver\u2014over the coming months. As the metro lays the groundwork for a phased rebound, multifamily rates have also begun to improve: As of April, rents were up 0.5% on a trailing three-month basis, to $1,578, above the $1,417 U.S. average.<\/p>\n\n\n\n<p>As of March, unemployment stood at 6.4% in Colorado and 6.7% in metro Denver, both slightly above the 6.0% March national rate, according to preliminary data from the U.S. Bureau of Labor Statistics. Aimed at addressing the heavy employment loss in the city and focused on the hardest-hit businesses, workers and communities, one of RISE Denver\u2019s main priorities is to create 40,000 jobs by the end of 2022. Furthermore, as part of the recovery strategy, Mayor Michael B. Hancock will send a proposal for a $400 million bond package to city council for referral to the November ballot.<\/p>\n\n\n\n<p>Denver had 21,185 units under construction as of April, with 81% of those targeting high-income renters. The largest share (68%) of the pipeline is expected to come online by year-end. Meanwhile, investment sales were off to a strong start in 2021, with 22 assets totaling 4,768 units old for a combined $1.3 billion in the first four months of the year.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1269-MatrixMultifamilyDenverReport-Summer2021?utm_source=Matrix-Blog&amp;utm_medium=Social\">Matrix Multifamily Denver Report-Summer 2021<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:46px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Recovery Strategies Start Taking Shape As Denver gradually enters its recovery phase, local authorities are implementing Denver\u2019s Rebuilding for an Inclusive and Sustainable Economy plan\u2014dubbed RISE Denver\u2014over the coming months. As the metro lays the groundwork for a phased rebound, multifamily rates have also begun to improve: As of April, rents were up 0.5% on [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":1227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[453,221],"class_list":["post-1224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-denver","tag-multifamily-outlook-2021"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Denver Multifamily Market Report \u2013 Summer 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"As the metro moves through a phased recovery, multifamily rates have also started to bounce back\u2014as of April, rents were up 0.5% on a trailing three-month basis to $1,578, above the $1,417 national average.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/denver-multifamily-market-report-summer-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Denver Multifamily Market Report \u2013 Summer 2021\" \/>\n<meta property=\"og:description\" content=\"As the metro moves through a phased recovery, multifamily rates have also started to bounce back\u2014as of April, rents were up 0.5% on a trailing three-month basis to $1,578, above the $1,417 national average.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/denver-multifamily-market-report-summer-2021\/\" \/>\n<meta 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