{"id":4889,"date":"2022-10-11T14:49:57","date_gmt":"2022-10-11T14:49:57","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4889"},"modified":"2023-09-13T05:08:18","modified_gmt":"2023-09-13T05:08:18","slug":"denver-multifamily-market-report-september-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/denver-multifamily-market-report-september-2022\/","title":{"rendered":"Denver Multifamily Market Report &#8211; September 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Denver Rental Market Stays Elevated<\/h2>\n\n\n\n<p>Powered by a <strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/june-2022-denver-multifamily-market-trends\/\">recovering economy<\/a><\/strong>, Denver\u2019s multifamily market saw a steady performance in 2022, with sustained rent growth, substantial investment activity and consistently solid construction across the metro. Demand kept up with supply additions, with rents rising 1.2% on a trailing three-month basis through July, to $1,941, but the occupancy rate in stabilized properties was slightly impacted, declining 30 basis points in the 12 months ending in June, to 95.4%.<\/p>\n\n\n\n<p><strong>Denver unemployment stood at 3.2<\/strong>%, faring better than both the U.S. (3.6%) and the state (3.4%), but the market is still nowhere near pre-pandemic levels. Even so, the metro recovered nearly all jobs lost during the health crisis, with the employment market expanding 5.3% in the 12 months ending in May, adding 92,500 jobs. Professional and business services\u2014Denver\u2019s largest sector\u2014led growth with 29,700 positions. Leisure and hospitality continued its rebound with 26,600 new jobs. Moreover, Denver International Airport\u2019s passenger volume in the first half of 2022 was just 1.6% below that of the same period in 2019.<\/p>\n\n\n\n<p><strong>Development activity moderated slightly<\/strong>, but still posted consistent numbers: 4,424 units delivered through July and 29,000 units were underway. Meanwhile, sales volume reached nearly $2.9 billion, trailing the figure registered during the same period last year. The price per unit increased by 9.4% on an annual basis<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/Publications\/Download\/File\/2800-MatrixMultifamilyDenverReport-September2022\">Matrix Multifamily Denver Report-September 2022<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Denver Rental Market Stays Elevated Powered by a recovering economy, Denver\u2019s multifamily market saw a steady performance in 2022, with sustained rent growth, substantial investment activity and consistently solid construction across the metro. Demand kept up with supply additions, with rents rising 1.2% on a trailing three-month basis through July, to $1,941, but the occupancy [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":4890,"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-4889","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":"<!-- 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 - September 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Denver\u2019s multifamily market has had a stellar decade, but development and investment activity are now moderating.\" \/>\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-september-2022\/\" \/>\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 - September 2022\" \/>\n<meta property=\"og:description\" content=\"Denver\u2019s multifamily market has had a stellar decade, but development and investment activity are now moderating.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/denver-multifamily-market-report-september-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-11T14:49:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T05:08:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/10\/Denver-iStock-1355858908.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Denver Multifamily Market Report - September 2022 - Yardi Matrix Blog","description":"Denver\u2019s multifamily market has had a stellar decade, but development and investment activity are now moderating.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/denver-multifamily-market-report-september-2022\/","og_locale":"en_US","og_type":"article","og_title":"Denver Multifamily Market Report - September 2022","og_description":"Denver\u2019s multifamily market has had a stellar decade, but development and investment activity are now moderating.","og_url":"https:\/\/www.yardimatrix.com\/blog\/denver-multifamily-market-report-september-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-10-11T14:49:57+00:00","article_modified_time":"2023-09-13T05:08:18+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/10\/Denver-iStock-1355858908.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/denver-multifamily-market-report-september-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/denver-multifamily-market-report-september-2022\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Denver Multifamily Market Report &#8211; 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