Tag: rents
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Apartment construction slows after years of frenzied building in Colorado Springs
The red-hot pace of Colorado Springs-area apartment construction turned ice cold last year. From 2019 to 2023, multifamily developers pulled permits to build just over 14,000 apartments in the Springs and surrounding El Paso County — one of the hottest stretches of local apartment construction in recent memory that averaged a little more than 2,800…
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Colorado Springs apartment rents slumped again in the first quarter, new report shows
Colorado Springs apartment rents fell again in the first quarter and the area’s vacancy rate remained high, more signs that the local multifamily market is overbuilt, a new report suggests. And, expect those trends of softer rents and higher vacancies to continue unless the pace of absorption, or apartment occupancy, ramps up significantly, one of…
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Colorado Springs apartment rents slumped again in the first quarter, new report shows
Colorado Springs apartment rents fell again in the first quarter and the area’s vacancy rate remained high, more signs that the local multifamily market is overbuilt, a new report suggests. And, expect those trends of softer rents and higher vacancies to continue unless the pace of absorption, or apartment occupancy, ramps up significantly, one of…
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Proposed 36-story apartment tower in Colorado Springs: 7 things to know
Here’s a closer look at the proposed high-rise apartment building in Colorado Springs. • In November, The O’Neil Group, a local private equity group, and VeLa Development Partners, a Kansas City, Mo., high-rise, multifamily developer, submitted plans to the Colorado Springs Urban Renewal Authority that proposed a 36-story, 497-unit apartment building, which would be constructed on…
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Rents have tumbled after an apartment surge in Colorado Springs means rents are on their way down
The number of Colorado Springs-area apartments standing empty rose again in late 2023, while rents also fell — the fallout from an oversupply of units that have opened in recent years, one industry expert said. A recently released, statewide report by 1876 Analytics, an affiliate of Denver-based Apartment Appraisers & Consultants, shows Colorado Springs’ apartment…
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Colorado Springs home prices expected to remain stable in 2024 — but could apartment rents fall?
Facebook Twitter WhatsApp SMS Email Print Copy article link Save Colorado Springs’ single-family home and apartment markets appear headed in different directions, which could mean more frustrating news for buyers, but a better outlook for renters. Like last year, homebuyers in 2024 could continue to find a tight supply of properties for sale, while high…
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Colorado Springs home prices expected to remain stable in 2024 — but could apartment rents fall?
Colorado Springs’ single-family home and apartment markets appear headed in different directions, which could mean more frustrating news for buyers, but a better outlook for renters. Like last year, homebuyers in 2024 could continue to find a tight supply of properties for sale, while high prices of the past several years aren’t expected to come…
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Colorado Springs apartment rents set another record high
Facebook Twitter WhatsApp SMS Email Print Copy article link Save Apartment dwellers dug deeper into their pocketbooks during the second quarter as Colorado Springs-area rents hit another record high, a new report shows. Monthly rents averaged $1,156.76 during the April-June period, about $15 more than the previous record set during the same quarter last year,…