Highland park, CO—For more than three decades, developers have been eyeing a piece of the city’s rising real estate market, but with a few key distinctions.
For starters, they’re still dealing with high vacancy rates, and those aren’t going away anytime soon.
Highland parks and neighborhoods like them are in high demand.
In fact, according to real estate firm Zillow, in the past year the median rent in the city has jumped about 70%.
But developers also see the market changing fast.
“There’s a lot of people that are really interested in buying and are looking to buy a highrise in the future,” said Mark Grosz, vice president of marketing for the highland parks development company.
And, he says, “there are more people in highrises that are looking for rental properties than ever before.”
The new highrise boom is coming to DenverThe highland neighborhoods are just one part of what’s happening in Denver.
The city is on the verge of seeing a boom in rental apartments and a surge in home sales.
The latest data from Zillower shows that Denver’s median price for a two-bedroom apartment in the downtown area is now $1,928, while in the North Denver neighborhood it’s $1:1,000.
Meanwhile, median prices for homes in other areas have jumped by about $20.
The area where the trend starts to happen, as you can see in the map above, is in Highland Heights.
Here, the average price for one-bedroom apartments in the neighborhood is $1.6 million, according the company.
While this price isn’t the highest in the country, it’s not the lowest either.
In the last two years, it has nearly doubled.
Denver’s rent is up 30% The number of people living in Denver is up about 30% in the last year, according a recent report by real estate company CBRE.
That’s a big deal, because renters in the Denver area typically pay more than their peers in other cities.
The median rent for a one-bed apartment in Denver in 2017 was $1.,898, up about $100 from last year.
The price is also up a lot compared to other parts of the country.
Median rents for condos in Denver were up about 15% from 2016, while for single-family homes, the price is up 16% from last years year.
“People are paying more, and that’s why the rents are higher,” said Groszy.
The new boom is affecting renters in all parts of DenverWhile there are more than 3 million people living there right now, a big part of that is because they are renting, and many people have a lot more money than they used to.
The numbers don’t include many people in the market for a second home, so the average rent for condos is still well above the national average.
The number who are currently living in condos in the area is down by about 300,000 since 2016.
And as we’ve seen in the condo market, it can be tough to find places that fit people who don’t already have a home.
“If you have a long commute, you have to look at other options,” said Ryan Lips, the co-founder of Urban Apartment.
“The problem is that you have people in condos that are sitting on the couch waiting for their place to be filled.”
For renters, the demand for rentals in Denver has increased since the beginning of the year.
But that demand is also changing the rental market in ways that could have an impact on rental prices.
While the demand is up, the supply of available rental apartments is down.
Zillows report shows that the supply is down in the low-rise apartments and low-income neighborhoods of Denver that are in the process of building out.
“For people who are already renting, this is really going to have a big impact on the rental price,” said Lips.
The current situation in Denver’s housing market is not unusual, but it is a big change for a city with more than 500,000 people.
For a city like Denver, the new demand is pushing up prices.
“That’s why we’re seeing a lot higher rents in the areas that have the most housing,” said Harshad Shah, co-owner of The Blue Lagoon, a luxury apartment building in Denver called the Blue Lagoo.
“You’re seeing that as the demand increases, so does the supply.”
There are other issues to keep in mind if you’re thinking about buying a home near the top of the list.
For one thing, Denver is a city where there is no such thing as a free lunch.
The minimum wage in Denver currently is $10.50 an hour.
The rate is rising.
And if you can afford to buy in the suburbs, you might have to pay more to live in the high-rise.
But, for the most part, the high rents are going to make the most