Thursday, August 2, 2012

Rental Rates Soaring

The need for apartments is continuing to rise as evidence from the most recent report from the Apartment Association of Metro Denver indicated this week. The rental rates in the Denver Metro area have risen over 7% in the past quarter alone with the average rental price spiking from $915 to $979. In more urban areas, such as Denver and Boulder, the rent increased as much as $87 per month. The Apartment Association of Metro Denver and the Colorado Division of Housing report that this is the greatest increase in 11 years!

Over the past year, we have designed over 500 units with the first resident moving in this week at the Regency at RidgeGate community. Prospects for future multifamily complexes look strong for Godden| Sudik Architects with over 700 units on the drawing board for the upcoming year. This has been wonderful news for Denver's economy and we look forward to continued growth!

To view the second quarter 2012 report click here.

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