{"id":1004119361,"date":"2015-05-14T05:55:08","date_gmt":"2015-05-14T13:55:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004119361"},"modified":"2021-05-15T08:26:07","modified_gmt":"2021-05-15T16:26:07","slug":"market-snapshot-denvers-rental-rates-soar","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/market-snapshot-denvers-rental-rates-soar\/","title":{"rendered":"Market Snapshot: Denver\u2019s Rental Rates Soar"},"content":{"rendered":"

By Ioana Neamt, Associate Editor<\/i> <\/i><\/p>\n

\"Denver<\/a>

Denver Multifamily Market \u2013 Rent Trends \u2013 Q1 2015<\/p><\/div>\n

Driven by substantial job growth and rising rental rates, Denver boasts one of the strongest multi-family markets in the country, ranking fifth on Marcus & Millichap\u2019s 2015 National Apartment Index. Despite having slipped two spots since last year\u2019s ranking, the market is poised to experience positive growth in 2015, fueled by a significant increase in employment. Nearly 55,000 jobs will be added in 2015, which accounts for a 4.0 percent increase in total employment, according to Marcus & Millichap.<\/p>\n

Denver has ranked among the top performing metros in the country over the past five years, and is currently one of the most promising markets nationwide. Data provided by Yardi Matrix<\/a> positions Denver as one of the leading markets in the U.S. in terms of rent growth and absorption, alongside San Francisco and Portland. While national average rents registered a 4.3 percent year-over-year increase, Denver experienced an increase in rental rates, exceeding 10 percent in all asset classes.<\/p>\n

\"Denver<\/a>

Denver Multifamily Market \u2013 Vacancy Trends \u2013 Q1 2015<\/p><\/div>\n

Deliveries are expected to outpace demand this year, mostly in the desirable Central Denver submarket, pushing vacancy up 50 basis points to 4.6 percent. Nonetheless, as more jobs are added in nearly every employment sector, demand is expected to remain strong and drive further multi-family investment.<\/p>\n

Marcus & Millichap reports that more than 10,000 apartment units are currently underway in the Denver metro area, with an additional 17,000 units proposed. Notable developments include the 424-unit Camden Flatirons in Broomfield and two multi-family projects undertaken by Southern Land Co. in Denver and Boulder<\/a>. The transaction volume has almost doubled, with Bell Partners setting a new record with the $250 million purchase of a metro Denver apartment community<\/a>.<\/p>\n

Charts courtesy of Marcus & Millichap<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Driven by substantial job growth and rising rental rates, Denver boasts one of the strongest multi-family markets in the country.<\/p>\n","protected":false},"author":192,"featured_media":1004119362,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[39432],"class_list":["post-1004119361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-denver"],"acf":[],"yoast_head":"\nMarket Snapshot: Denver\u2019s Rental Rates Soar - Commercial Property Executive<\/title>\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.commercialsearch.com\/news\/market-snapshot-denvers-rental-rates-soar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Snapshot: Denver\u2019s Rental Rates Soar\" \/>\n<meta property=\"og:description\" content=\"Driven by substantial job growth and rising rental rates, Denver boasts one of the strongest multi-family markets in the country.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/market-snapshot-denvers-rental-rates-soar\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-05-14T13:55:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T16:26:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/05\/MM-Denver-Multifamily-Rents-Q1-2015.png\" \/>\n\t<meta property=\"og:image:width\" content=\"308\" \/>\n\t<meta property=\"og:image:height\" content=\"247\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-denvers-rental-rates-soar\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-denvers-rental-rates-soar\\\/\"},\"author\":{\"name\":\"Ioana Neamt\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/993af2799cdaf5162633d320cf63ff16\"},\"headline\":\"Market Snapshot: Denver\u2019s Rental Rates Soar\",\"datePublished\":\"2015-05-14T13:55:08+00:00\",\"dateModified\":\"2021-05-15T16:26:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-denvers-rental-rates-soar\\\/\"},\"wordCount\":308,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-denvers-rental-rates-soar\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/05\\\/MM-Denver-Multifamily-Rents-Q1-2015.png\",\"keywords\":[\"Denver\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-denvers-rental-rates-soar\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/market-snapshot-denvers-rental-rates-soar\\\/\",\"name\":\"Market Snapshot: Denver\u2019s Rental Rates Soar - 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