Good news for Denver: A recent surge in housing production is lowering housing costs. The Denver metro added 20,000 apartments last year, doubling the pace of the last decade. 1/ www.denverpost.com/2025/01/24/m... - ThreadSky

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mattfrommer.bsky.social • 39 days ago

Good news for Denver: A recent surge in housing production is lowering housing costs.

The Denver metro added 20,000 apartments last year, doubling the pace of the last decade.
1/
https://www.denverpost.com/2025/01/24/metro-denver-apartment-rents-falling-vacancies-rising/

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mattfrommer.bsky.social•39 days ago

When housing supply exceeds demand, vacancies increase, forcing landlords to lower rents. This is a huge relief for the 50% of Denverites who are renters.

Unsurprisingly for anyone who lives here, “housing affordability” is a top issue for Coloradans.
2/

mattfrommer.bsky.social•39 days ago

While this is trending in the right direction, a 1.5% annual rent decrease is a drop in the bucket compared to the 29% rent increase from 2019 to 2024.
3/

mattfrommer.bsky.social•39 days ago

Here’s the concern: New housing starts plummeted in 2022-2023, when apartment permits in Denver dropped by 80%.

Given the 2-3 year lag from permits to completions, this could lead to a housing scarcity in 2026-2027, when rents may rise again.
4/

mattfrommer.bsky.social•39 days ago

To meet demand and prevent a return to escalating housing costs, the Denver metro needs to build 216k new homes by 2035.

We must continue to build more housing to ensure our kids, grandkids, neighbors, and essential workers can afford to live here.
https://t.co/3cRXrEZJuw

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