Which apartment is the best for renters in Boulder, Colorado?
By now you’ve probably heard about the Denver apartment boom, and you probably know that the market is booming, with rents climbing as high as $1,200 a month for one-bedroom apartments and even more for studios.
But you probably haven’t heard that this new apartment boom is in fact a lot of apartments, rather than just single-family homes.
There’s an interesting statistic in the data that we’ve highlighted in this story: The number of apartments on Boulder’s rental market is growing at a rate of 3.6 percent a year, which is nearly twice the national average.
In comparison, the number of single-story homes in the Denver metro area grew just 1.7 percent a full year in 2016.
So what’s going on?
And how can you best save yourself and your apartment from this rapid growth?
This is a question that has been posed for some time, and it’s one that the City of Boulder’s housing department has been trying to answer.
The city’s data on rents for apartments and single- family homes show that the rate of increase is accelerating.
In fact, the city’s housing bureau is now analyzing the data and is currently reporting that rents for Boulder’s apartment market are up by 3.4 percent annually, while the national rate is up by just 1 percent.
The reason for this growth is not just because of Boulder residents being forced to pay more, but also because of the demand for new apartments and the shortage of existing ones.
So how can renters save themselves and their apartments from this fast rental growth?
To understand what the data says, let’s take a look at some data.
As of December 31, 2016, there were 1,200 apartments in Boulder’s market.
The median price of an apartment in Boulder was $1.2 million.
Of that number, 846 units were single-unit, while just over 1,000 were two-unit units.
That’s a rate increase of almost 3.5 percent a month.
So if you were to compare the rate growth of single and two-bedroom rental units, you’d see that the national figure is actually down by just 0.3 percent a quarter.
So what’s happening here is that Boulder’s single- and two (and sometimes three)-bedroom rentals are seeing their rents increase faster than the national growth rate, while Boulder’s apartments are seeing a growth in rents that is at the national level.
That’s because Boulder has a relatively small population, with a population of just over 4 million.
So the number and type of units being offered by Boulder’s residents are small, making them more likely to be rented out.
So it’s more difficult for renters to save themselves from a housing market that is more likely than other places to be experiencing rapid rent growth.
A new trend is emerging in Boulder: rents that are higher than their national average, and higher than other cities in Colorado.
As the number on rent growth for Boulder apartments continues to grow, so too does the number that are being offered for single-bedroom units.
And it’s a trend that’s being driven by a handful of new properties.
For example, in 2017 alone, there are over 1.5 million available single-bedrooms in Boulder and the number is expected to increase by over 3 percent a given year.
The number for Boulder is expected over 2 million in 2020.
In a way, this is a classic case of the market being driven more by demand than supply.
The market is now seeing rents that it has never seen before, which will likely lead to higher rents in the future.
But it’s not just single homes that are seeing the fastest rent growth, it’s also apartments.
There are more than 500 apartments that are currently on the market in Boulder.
Of those, more than a quarter are two- and three-bedroom, with the average asking rent of $2,500.
In contrast, the average rent in Boulder is only $1 in rent-stabilized apartments.
So a rising rate of rent in apartments and a slowing rental growth rate in single-home units is leading to increased rents for renters, which leads to increased rental demand and a rental market that will grow.
So the solution is to create more affordable housing.
The best way to do that is to build more units in Boulder that are less expensive than they are elsewhere in the state.
That means adding a new element to the rental market—new single-storey, affordable units.
But the biggest challenge to keeping rents high in Boulder lies with the city.
The rate of growth of the city is one of the biggest factors behind the apartment market’s growth.
The demand for apartments is driven by the availability of new units, but it’s often hard to find new units when the market has been flooded with apartments in the past.
The city’s problem is that there’s not a lot that the city can do to slow down