Denver Ranks 5th Among Hottest Markets for Multifamily
Over the past decade, the price-per-unit (PPU) for multifamily properties surged 156 percent, reaching nearly $160,000. This increase surpassed both median home sale prices and rental rates.
The latest CommercialSearch study compared and ranked the most active U.S. metros in terms of multifamily sales since 2009.
Here are some highlights:
- Denver is the fifth hottest U.S. market for multifamily sales over the last decade. Since 2009, Denver registered more than $46B in multifamily sales.
- In terms of transactions, 1,192 deals were completed across the metro since 2009, totaling 274,467 units.
- In 2020 alone, Denver closed 73 deals, claiming the 5th spot.
- For comparison, nationally, the average rent saw a 37% increase to $1,462 and the median home sale price was up roughly 58% since 2009 to $313,200.