Denver’s Average Rent Went Down, But Eviction Fears Are Up
You rarely hear a story about Colorado rentals with the headline "rent goes down". After renting in Fort Collins for ten years, it's something I'm not personally familiar with. However, according to the Denver Post, for the first time in a decade, Denver's average rent dropped.
At the start of the pandemic, The Apartment Association of Metro Denver reported that the average cost to lease in Denver averaged $1,506 a month. Last year, that number was $1,536.
However, despite the good news, Denver's main concern is unpaid rents, which inevitably lead to evictions in the upcoming months of the pandemic crisis. Many landlords and Denver officials are looking at factors such as the end of the $600-per-week federal unemployment subsidy and the potential increase in unemployment if the pandemic rages on.
Are you concerned about rent? Let us know in the comments.