The Boulder County Business Report says for the second quarter apartment vacancy rates in Boulder and Broomfield fell. This is a good thing! The vacancy rate for the second quarter was at 4.9% and fell to 4.6%. Vacancy in Denver fell to 4.8%, which is the lowest rate in the greater Denver area since 2001 at 5.5%.
The lowest vacancy rate in Boulder was around the University of Colorado with a stunning 0.4% vacancy rate, while the rest of the city stands at 4.7%. The median rent in Boulder and Broomfield counties is $969.13. The median rent in metro Denver is $863.37.
What this means: A fall in vacancy rates means that there is a growing demand and less supply. It seems that more people are downsizing from homes and moving into cheaper apartment living. This will pose a short-term threat to home sales in those counties but in the long-term it means there will be a large shift from apartment owners to home owners.
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