{"id":1972,"date":"2021-10-15T13:06:07","date_gmt":"2021-10-15T13:06:07","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=1972"},"modified":"2024-02-06T11:02:30","modified_gmt":"2024-02-06T11:02:30","slug":"denver-multifamily-market-report-summer-2021-2","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/denver-multifamily-market-report-summer-2021-2\/","title":{"rendered":"Denver Multifamily Market Report \u2013 Summer 2021"},"content":{"rendered":"<h2>Recovery Well Underway<\/h2>\n<p>Colorado\u2019s business-friendly environment, affordable cost of living, airport connectivity and tech ecosystem proved a winning combination for Denver\u2019s multifamily market. Rents in the metro rose 2.0% on a trailing three-month basis through July to $1,715, outpacing the national average, which rose 1.6%, to $1,510. Occupancy in stabilized properties increased by 60 basis points in the 12 months ending in June, to 95.0%, due to demand for upscale units.<\/p>\n<p>As of June, unemployment stood at 6.3%, trailing the 5.9% U.S. rate. Overall, Denver added 134,200 jobs in the 12 months ending in May, with slight contractions in the government, information and construction sectors. Metro Denver\u2019s largest sector\u2014trade, transportation and utilities\u2014expanded by 9.7% during the period and is poised for additional boosts, thanks to Amazon, United Airlines and Fluid Truck. Professional and business services grew by 5.1%.<\/p>\n<p>Developers had 22,566 units underway as of July. However, deliveries slowed down, with just 2,816 apartments added to the inventory in the first seven months of 2021. Meanwhile, transaction activity rebounded strongly, with the total reaching $3.8 billion through July, for a price per unit that rose to $314,411.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/Publications\/Download\/File\/1322-MatrixMultifamilyDenverReportII-Summer2021?utm_source=Matrix-Blog&amp;utm_medium=Social\"><strong>Matrix Multifamily Denver Report II-Summer 2021<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recovery Well Underway Colorado\u2019s business-friendly environment, affordable cost of living, airport connectivity and tech ecosystem proved a winning combination for Denver\u2019s multifamily market. Rents in the metro rose 2.0% on a trailing three-month basis through July to $1,715, outpacing the national average, which rose 1.6%, to $1,510. Occupancy in stabilized properties increased by 60 basis [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":1973,"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-1972","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=\"Colorado\u2019s business-friendly environment, affordable cost of living, airport connectivity and tech ecosystem proved a winning combination 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