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Rising rents and steady vacancy rates hold through new apartment construction

Local apartment rents continued to rise during the third quarter despite flat vacancy rates. Average rents hit a record high of $787 without adjusting for inflation and vacancy remained flat at 6.1 percent, according a report released today by the Colorado Division of Housing. The vacancy figures are different from what division of housing spokesman… Continue Reading Rising rents and steady vacancy rates hold through new apartment construction

Lower rents changing downtown tenant mix

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When Kati Brewer started looking for a downtown storefront for her Pure Nutrition shop earlier this year, she was blown away by the affordability off Tejon Street. Continue Reading Lower rents changing downtown tenant mix

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Apartment vacancy rates in Colorado Springs were above the state average in the first quarter of this year. The city was also just one of a few metro areas in the state where vacancy rates were higher than last year. The vacancy rate was 6.4 percent in Colorado Springs, which was up from 5.8 percent… Continue Reading Springs apartment vacancy above state average

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The lower apartment vacancy rates and higher rents reported in last week’s survey from the Colorado Division of Housing are good for apartment property owners … Continue Reading Lower vacancy, higher rents good for apartment owners

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Apartment market at tipping point

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It has been a renter’s market in Colorado Springs for most of the last decade, but that’s about to change. Demand for apartments and rental homes is up because homeowners whose houses have been foreclosed upon are renting now, and builders are holding off on constructing apartment complexes until the economy strengthens. Rental vacancy rates… Continue Reading Apartment market at tipping point

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Apt. landlords have little to celebrate

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Like a barometer, apartment rental rates provide a measure of the Pikes Peak economy — and this summer the pressure is rising, though demand could soon drop even faster. Vacancy rates in apartment communities of 50 units or more are down to a 10-year low of 6.1 percent, compared to about 8.4 percent last year.… Continue Reading Apt. landlords have little to celebrate

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Lawmakers are considering a bill this year that would give local governments more leeway in requiring private developers to build affordable housing, though critics say the proposal is merely a back-door to controlling rents. The author of House Bill 1017, Rep. Daniel Kagan, D-Denver, said his aim is fix two problems: lack of affordable housing… Continue Reading ‘Rent control’ bill an effort to increase affordable housing

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