Area Rental Inventory Increases

Front Page News

The big headlines today locally: rental rates didn’t see a big hike in the past year. That’s good news for a market already billed as the tenth most expensive in the United States. For reference if you are reading this article in the future – the big national headlines are USA and Iran hostilities avoided.

$1,823 Average Rent For Boulder One Bedroom

Rental rates in Boulder are seriously high.  As are home prices.  According to the Daily Camera article the average one bedroom is currently renting for a tad over eighteen hundred a month.  That’s not too shabby.  With rates in that range, you can imagine how some condo owners rather than selling are becoming landlords and renting their units when they move.  

downtown boulder holiday lights january 2020And that trend continues up the food ladder.  Owners of small houses see a better return making their property into a rental unit when they trade up, etc.  The net impact is that housing inventory levels remain very low causing a Sellers Market (I wrote about that just the other day — here).  Low inventory and high demand continue to be characteristics of the Boulder housing market. 

Drive Til You Qualify

Have you ever heard this term – drive til you qualify?  The idea being if you can only buy – or Rent – so much home, drive until you find the price point you like.  With this in mind, areas such as Broomfield and Lafayette to the east as well as Longmont to the north are ever increasingly popular for would be Boulder renters.

I like Lafayette as an option with its burgeoning downtown district, great amenities (check out the state of the art summertime swim complex and wonderful trail network)!   There are hundreds of great reasons to make Lafayette your home such as Reason # 8.   I’m also a big fan – and user – of the new 24 Hour Super Sport athletic club in Lafayette.  The new complex’s roof leaks something fierce, but other than that, great facility with a super staff. 

Lafayette is a mere ten to fifteen minute commute to Boulder.

Really Have To Live In Boulder

For those of you that have to be in Boulder: good news.  There is plenty of new construction aimed at apartment style living in Boulder.  A big complex is under construction near Foothills and Arapahoe (sort of across from the Boulder Community Hospital) as well as more units coming on at 30th and Folsom near the Google complex.  Have you visited Google in Boulder? It’s amazing.  Boulder has a wide variety of housing stock in the rental department.  From the cute mountainside cottages at Chautauqua to walk-to-campus options on The Hill to new state of the art apartments and a little bit of everything in between.

 

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