Boulder Valley Rental Rates Hit Record

248280_sHave you ever thought of being a landlord?

Owning rental property can be an excellent asset in your investment portfolio and the recent figures posted by the Apartment Association of Denver and the Colorado Division of Housing make that exact point.

Rental rates in Boulder and Broomfield counties have hit an all-time high for the first quarter of 2013.  Based on rent per square foot that comes out to $1.33/ft.  Now add in the fact that vacancy rates have fallen and that means more units are fully occupied while landlords are getting bigger rent checks.

The vacancy rates in Boulder-Broomfield market checked in at an average of 3.2 percent.   But when you drill down into the sub-markets you’ll find University Hill area of Boulder had a 0.3 percent vacancy rate and the rest of Boulder reported a 1.4 percent vacancy rate.   Good news for landlords – a little rougher for those looking to rent a place.

Rental rates also bumped up to $1,150 in the Boulder-Broomfield market.  Drilling down again I see University Hill collecting an average rent of $996.90 and the rest of Boulder at an average rent of $1,207.25.

If you’re interested in the surrounding metro areas here are the stats:

First quarter vacancy rates by county were:  Adams, 5.2% / Arapahoe, 4.1% / Boulder-Broomfield, 3.2% / Denver, 5.4% / Douglas, 6.5% / Jefferson, 3.7% /

First quarter average rents by county were: Adams, $910 / Arapahoe, $950 / Boulder -Broomfield, $1,150 / Denver, $1,008 / Douglas, $1,186 / Jefferson, $958 /

If you think you’d like to investigate buying a rental property please give me a call.  I’d be happy to show you details.  You can read what a client had to say about their rental purchase experience here. 

 

 

 

 

 

 

I am a Boulder County real estate specialist. Over the past three years, I have earned the distinction of being named a 5280 Five Star Realtor. This puts me in the top 7% of all Realtors in the Denver Metro Area for customer satisfaction. If you would like to schedule a buyer or seller meeting with me, please feel free to call me at 303-579-1617 or contact me by email.

TO RECEIVE FUTURE POSTS IN YOUR INBOX JUST CLICK HERE.

JeffGazaway.com is the most comprehensive online source for Boulder County real estate information. Whether you are looking for the latest sales, trends or homes for sale in the Boulder area, JeffGazaway.com has it all at your fingertips. Browse information regarding Featured Listings, Market Trends, Buyer Tips, Seller Strategies and Fun Things To Do in the Boulder Valley.

Leave a Reply