Boasting 300 days of sunshine per year, a thriving cultural and arts scene, diverse neighborhoods, the surrounding beauty of the Rocky Mountains and seven professional sports teams, it's easy to understand why so many new residents are called to the Mile High City year after year. Denver is no stranger to accolades and awards. Newsweek has ranked Denver third in a list of "top cities of the future" among young adults, while Shape magazine named it as the fifth fittest city in America list.
Q2 2015 Denver Rental Market Update
Denver is once again one of the best housing markets in the country to own rental properties in, leaving All Property Management puzzled as to why it doesn't receive more national recognition as a real estate powerhouse. In Q2 2015, Denver was the fourth most attractive market for rental real estate investment in both the Western U.S. and the country as a whole, ranking just behind other hot West Coast housing markets like Seattle and San Francisco.
The primary reason behind this impressive ranking is Denver's year-over-year median property value appreciation of 11.61 percent, the highest increase in the country for that metric and almost 130 percent higher than the national average. Denver median rents also experienced excellent annual gains of 9.47 percent in Q2 2015, an increase around 90 percent greater than the national average.
Denver's impressive annual job growth rate, 2.94 percent (45 percent greater than the national average), exceptionally low vacancy rate, 4.30 percent (36 percent less than the national average), and even lower median age of inventory, 33 days (an entire month less than the national average) further highlight how strong demand for Denver housing currently is and will likely continue to be in the future.
Q1 2015 Denver Rental Market Update
Denver is home to a booming real estate market, where homes for sale only remain on the market for 37 days, making it one of the hottest markets in the country for that metric. This statistic and others in All Property Management's Q1 2015 Rental Ranking Report make Denver the third best rental real estate market in the West - and third best in the country as a whole.
Denver rents zoomed up nearly 13 percent in the year ending in Q1 2015, the second highest rental price increase in the country, while property values have risen by more than 10 percent (seventh best in the country for that metric). Denver posted excellent job growth numbers in the year ending in Q1 2015 as well. And with a vacancy rate of just 3.8 percent, chances are excellent you can keep renters in your rental properties year-round.
What data is this Rental Ranking Report based on?
To calculate the statistics found in the Q2 2015 Rental Ranking Report, All Property Management gathered data, including the most recent government housing and jobs data, for 75 metros across the United States. Specifically, we looked at home vacancy, capitalization, home value appreciation and job growth rates, changes in rental prices, and the average number of days properties have been on the market to determine which U.S. metros will give investors the highest returns on rental investments. Click here to learn more about the Rental Ranking metrics.
Should I invest in Denver rental property?
The rental market is very hot in Denver! The Q2 2015 Rental Ranking Report findings suggest that rental property investors should take advantage of the Denver metropolitan area's rapidly rising rents and limited housing inventory to boost their rental incomes while these conditions exist.
Thinking about renting out a property in Denver? Save time, avoid hassle and maximize your rental income by having a professional property management company operate your rental property for you. Click here to get a free quote from a local property manager or call 877-780-4510 to have the All Property Management staff get quotes for you.
All Property Management specializes in connecting rental property owners with professional property managers in communities across the United States. These property managers help set rental rates, advertise properties, screen and manage tenants, collect rent, manage vendor relationships and ensure compliance with local, state and federal housing regulations. They take the hassle and worry out of managing rental properties - all while maximizing rental property owners' rental incomes.