Denver Apartment Supply Decreases in 2019
RENTCafé.com, a part of Yardi, has released its annual report on apartment construction, in which the nationwide apartment search website analyzed the numbers of new deliveries in 134 metro areas. Despite the strong demand for rentals, 2019 marks the second year of slowdown in terms of apartment completions nationwide.
Having built an impressive number of apartments last year, approx. 13,500, Metro Denver saw its supply decrease by 49 percent in 2019.
Here are some of our most interesting findings:
- With approx. 6,800 units expected to enter the market by the end of the year, Metro Denver ranks 12th on the list of Top 20 U.S. metros for apartment deliveries.
- The Mile High City accounts for almost two-thirds of the apartments expected to be delivered in the metro area this year, approx. 4,170, which represents the 7th largest number of completions at a city level in the nation.
- The rental apartment boom is in full swing in Aurora, the second most active market in terms of units delivered in the Denver metro area. With approx. 1,000 units in the pipeline, the city is boosting its apartment construction by 27 percent in 2019.