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Aurora, CO Rental Market Overview
A Popular Suburban Choice for Young Colorado Families
Located eighteen miles east of downtown Denver, Aurora offers potential entry-level opportunities for individual investors and landlords seeking affordable entry alternatives to the expensive apartment projects and Class A properties near Union Station. This is especially true for investors looking for single-family homes at affordable prices. The Marcus & Millichap 2013 National Apartment report ranked Denver 11 out of 44 rental markets throughout America. While new jobs and extensive renovations drive much of the apartment construction near the metro core, the report acknowledged that much of the appeal remains limited to a young renter demographic aged from 20 to 34 years old. Older residents, especially those with families, tend to seek older, family-friendly rental properties further away from metro areas. According to 2010 U.S. Census Bureau data, Aurora's largest population segment (37%) remains between the ages of 25 to 44.
Bargain Aurora Foreclosures Might Not Be an Option
According to CoreLogic's 2013 National Foreclosure Report, the Denver-Aurora-Bloomfield region is not a place to pick and choose among extensive foreclosures. The study cited 6,877 foreclosures for the metropolitan area over past year with a paltry foreclosure inventory of .9%. Of the 25 largest Core-Based Statistical Areas (CBSA) in the United States, the study found that the Denver-Aurora-Bloomfield CBSA has the smallest foreclosure inventory. So if you can't find much in terms of foreclosures, where do you look? These days many independent investors and small landlords consult with property management companies to gain local market insights. In addition to offering marketing, leasing and accounting services, most Aurora property management companies staff real estate professionals who can offer guidance with locating and evaluating potential rental properties. Property managers understand the local rental market because they work directly with rental property owners throughout Aurora. They can also make you aware of potential development plans in or around properties of interest, so you might possibly capitalize in the next big urban renewal project. Take a moment to review our Aurora property management companies and then request your free information today.