{"id":1004145717,"date":"2016-06-13T03:05:58","date_gmt":"2016-06-13T11:05:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004145717"},"modified":"2025-02-26T23:40:36","modified_gmt":"2025-02-27T07:40:36","slug":"yardi-matrix-denvers-growth-conundrum","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-denvers-growth-conundrum\/","title":{"rendered":"Yardi Matrix: Denver&#8217;s Growth Conundrum"},"content":{"rendered":"<div id=\"attachment_1004145590\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Denver_Metro_rent16.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004145590\" data-attachment-id=\"1004145590\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-denvers-growth-conundrum\/denver_metro_rent16\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Denver_Metro_rent16.jpg\" data-orig-size=\"800,400\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Denver rent evolution, click to enlarge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Denver rent evolution, click to enlarge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Denver_Metro_rent16.jpg?w=800\" class=\"wp-image-1004145590 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Denver_Metro_rent16.jpg\" alt=\"Denver rent evolution\" width=\"300\" height=\"150\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Denver_Metro_rent16.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Denver_Metro_rent16.jpg?resize=300,150 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Denver_Metro_rent16.jpg?resize=768,384 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004145590\" class=\"wp-caption-text\">Denver rent evolution, click to enlarge<\/p><\/div>\n<p>An influx of Millennials and strong job growth have propelled apartment rent\u00a0increases in Denver to among the highest in the nation\u2014but that growth may be\u00a0hitting a wall as a result of the heavy development pipeline. Employment is fueled\u00a0by industries such as technology, healthcare, business and hospitality, while the\u00a0booming medical marijuana sector has helped to attract young adults.<\/p>\n<p>Trade and transportation are also strong economic drivers for the metro. The\u00a0Denver Regional Transportation District recently completed the state\u2019s first commuter\u00a0rail line: the University of Colorado A Line connecting the downtown area to\u00a0Denver International Airport. The 23-mile route is part of the Eagle P3 Commuter\u00a0Rail project, which entails the development of 122 miles of commuter and light-rail,\u00a018 miles of bus rapid transit service and 21,000 new parking spaces.<\/p>\n<p>With large employers such as Google, Ibotta and Liberty Global expanding their\u00a0presence and adding jobs, the demand for multifamily units remains elevated.\u00a0However, the heavy new supply, mostly concentrated at the higher end of the\u00a0spectrum, is outstripping demand and dragging the market down far below last\u00a0year\u2019s 13 percent growth rate. This increase in supply is unlikely to persist for several years,\u00a0as more than 21,000 units are currently under construction and another 25,000 in\u00a0the planning stages. The rate of rent increases is consequently expected to drop to\u00a0a more sustainable level, and we forecast 6.3 percent rent growth for 2016.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/88-Denver-Spring2016Outlook?signup=false\" target=\"_blank\" rel=\"noopener\">Read the full Yardi Matrix Report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Multifamily Spring Report 2016: An influx of Millennials and strong job growth have propelled apartment rent increases in Denver to among the highest in the nation.<\/p>\n","protected":false},"author":873,"featured_media":1004145577,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,1587,21782,21742,37795,15],"tags":[],"class_list":["post-1004145717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-denver","category-development","category-latest","category-rc-occupancy","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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