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Denver Rent Prices So High Most Renters Want to Move

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A new study maintains that two-thirds of Denver renters plan to move to another city, a figure higher than the national average, with most listing high rent costs in the Mile High City  as the main reason. At the same time, however, so many people from other places want to move here that the actual number of renters in Denver is likely to remain steady in the near future and could actually rise. These are among the findings in a provocative report from Apartment List. As laid out in the following Q&A with analyst Sydney Bennet , who was heavily involved in the project, renting Denverites have a variety of reasons for wanting to relocate. But the number of those who are considering such a move because of long commute times or concerns about safety, for instance, pale in comparison to folks who simply are having a hard time stretching their dollars far enough to keep a decent roof over their head. As the study notes, the 67 percent of Denver renters who are looking at other lan...

Denver renters may not like how the renting market did in the second quarter

Denver renters already know this, but they’ll still probably groan: Rent in the Denver metro area is up again. Average monthly rent  for the second quarter rose $36.98 to $1,419.74, hitting another rental high. Median rent rose $31.21 to $1,376.79, according to the Denver Metro Apartment Vacancy and Rent report from the University of Denver’s Daniels College of Business and Colorado Economic and Management Associates. But the big takeaway from this report, said its author, Ron Throupe, is that 4,348 apartments were filled in the quarter, outpacing the 2,152 new units added. Since January, 9,012 net units have been filled, making it a strong year so far. In comparison, 11,056 net units were absorbed in all of 2016. In layman’s terms: Demand is high — which, again, may make Denver renters groan . But on the bright side, Harvard Extension School real estate instructor Teo Nicolais said, high demand means you’re living in a desirable place. “Denver has been discovered, but we should (...