LoDo is Denver’s Top Neighborhood for Apartment Construction
Urban areas have witnessed an apartment boom in the last five years, as a whopping 1.6 million new rentals hit the market nationwide. After analyzing construction data for the 50 largest U.S. cities, RentCafe—a nationwide apartment search website—went in-depth to identify the hottest neighborhoods for new apartment deliveries. As it turns out, the most centrally located areas saw a surge in renter interest.
Denver has no less than 17 neighborhoods hot for construction that delivered around 19,600 new units. Three of these neighborhoods built more than 2,000 new rentals in five years, making up a quarter of the city’s recent supply.
Here are the highlights:
- Packed with trendy bars, restaurants, and old buildings, LoDo is a frontrunner for apartment construction in the city. Since 2017, nearly 2,400 new rentals have been delivered in the area, making this the most apartment-crazed neighborhood in Denver.
- It’s not just Lower Downtown that brings a substantial supply of new units in the city. For example, in RiNo and Five Points, developers in the last five years have built 2,276 and 2,230 apartments, respectively,
- Crossing the 1,000 new units threshold, Getaway Denver (1,626 units), Downtown Denver (1,433 units), and West Colfax (1,227 units) are three other areas active in construction.
- Overall, Denver proper delivered around 25,600 new apartments in the last five years. 77% of them were built in these 17 neighborhoods, showing that apartment construction in Denver is spread throughout the city, unlike other markets with just one or two hotspots for rental developments.
To read more about the top apartment-crazed neighborhoods in the country, read the full study here.