Local Denver moving companies better be prepared for the mass migration of people moving to Denver in the coming months.
Last month news broke that not only is the Denver metropolitan area expanding by adding an additional 9,007 apartments that are expected to start renting out this year, but on average the price of rent has also increased almost 5% (combined with last year’s 11.6% increase, there has been a total 16.6% increase in 24 months). Finding a cheap apartment in Denver might be more difficult than you expect. Luckily, there is still hope.
This trend is not confined to Denver alone, as rent is increasing all over the U.S. and it shows no signs of stopping. What is interesting is that the job market in Denver is improving tremendously and some say it is contributing to the increase of renter strength and thus prices in the area.
In the past 12 months almost 43,000 jobs were created in Denver and the 9, 007 new apartments are expected to be rented to incoming job seekers; however, the questions remains: are there cheap apartments in Denver, or at least affordable places to live?
With that in mind, one of your local Denver moving companies, All My Sons Moving & Storage, has looked into current rent rates and future predication for rent increases. Findings on cheap apartments in Denver include that studios are averaging at about $959 per month, but increasing to almost $1,200 as they approach downtown, while some are as much as $1,550. One bedroom and two bedroom apartments start around 1,500 and can end at up to &3,600.
To answer the question: apartments in Denver are not exactly cheap, but the increase in job availability means more people can afford the higher prices. Call up one of the local Denver moving companies and take advantage of the new job openings in Denver.