{"id":4236,"date":"2022-07-11T12:50:47","date_gmt":"2022-07-11T12:50:47","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4236"},"modified":"2023-09-13T09:11:25","modified_gmt":"2023-09-13T09:11:25","slug":"june-2022-denver-multifamily-market-trends","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/june-2022-denver-multifamily-market-trends\/","title":{"rendered":"[June 2022] Denver Multifamily Market Trends"},"content":{"rendered":"\n

Denver Rental Market Maintains Altitude<\/h2>\n\n\n\n

One of the strongest metros for tech development<\/a><\/strong> over the past decade, Denver has benefited from a strong multifamily market that improved in leaps and bounds, even weathering the pandemic better than larger markets. Coming on the heels of 2021\u2014when average asking rates increased by 1.2% on a monthly basis\u2014rent expansion softened in the winter. However, through spring, rates rose again to 0.7%<\/strong> on a trailing three-month basis as of April, to an overall average of $1,847. Occupancy rose 50 basis points in the 12 months ending in March, to 95.4%.<\/p>\n\n\n\n

Denver unemployment improved 40 basis point since the start of the year<\/strong>, clocking in at 3.6% in March, on par with the U.S. rate and 10 basis points ahead of the state, according to data from the Bureau of Labor Statistics. The employment market expanded by 5.1% in the 12 months ending in February, or 106,200 jobs, leading the 4.7% U.S. rate. Good strides were recorded in the metro\u2019s largest sectors\u2014professional and business services (27,000 jobs) and trade, transportation and utilities (12,700 jobs), both poised for sustained expansion.<\/p>\n\n\n\n

Developers delivered 1,624 units in 2022 through April<\/strong>, below the volume of previous years during the same period, but there were another 26,000 units underway. Investors traded more than $1.5 billion in multifamily assets, on par with 2021.<\/p>\n\n\n\n

Read the full Matrix Multifamily Denver Report-June 2022<\/a><\/strong><\/p>\n\n\n\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Denver Rental Market Maintains Altitude One of the strongest metros for tech development over the past decade, Denver has benefited from a strong multifamily market that improved in leaps and bounds, even weathering the pandemic better than larger markets. Coming on the heels of 2021\u2014when average asking rates increased by 1.2% on a monthly basis\u2014rent […]<\/p>\n","protected":false},"author":650,"featured_media":4237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[453,444],"class_list":["post-4236","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-2022"],"yoast_head":"\n[June 2022] Denver Multifamily Market Trends - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"One of the strongest metros for tech development over the past decade, Denver has benefited from a strong multifamily market that improved in leaps and bounds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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