Fueled by a population surge that’s been driving up demand for housing, Denver has seen intense activity in the residential development market. The city, which continues to attract skilled talent with a robust science and technology employment scene, has amplified construction efforts particularly in the multifamily sector.
The latest Yardi Matrix research into residential real estate constructionreveals that Denver’s dynamic landscape and consistent efforts to meet housing demand have positioned it as the 9th best city for new housing.
Here are some key findings on Denver, as revealed in our latest research report:
- The residential sector has expanded considerably over the last decade, with 77,000 building permits issued. That represents 22% of Denver’s total housing inventory.
- When factoring in population, Denver’s efforts are even more impressive. The data indicates a rate of 108.5 permits issued per 1,000 residents, the fifth-best figure among the country’s 100 largest cities. Only Austin, TX, Seattle, WA, Durham, NC, and Atlanta, GA, managed a better showing.
- Multifamily construction has been picking up steam in Denver, with 59,000 apartment units permitted in the last 10 years. Driven by a surging trend for urbanization and changing lifestyle preferences, 2021 saw a record number of multifamily units permitted, exceeding 8,400.
- Additionally, roughly 17,000 building permits were issued for single-family homes from 2013 to 2022.
To read the full report CLICK HERE