The single-family rental vacancy rate in the metro Denver area has fallen to an all-time low. And while demand for the properties is high, rents aren’t keeping pace with inflation.
The vacancy rate for single-family homes, condos and other small properties across metro Denver fell to 1.4% in the first quarter of the year. That’s compared to 3.1% for the first quarter of 2010. Colorado Division of Housing Spokesman Ryan Mcmaken says in spite of declining vacancies, rents are largely flat across the metro area.
Foreclosure listing service Realtytrac says fewer homes entered the foreclosure process in January than any other month in more than three years. And a new report from the state Division of Housing shows new foreclosure filings in Colorado appear to be following the same downward trend.