For years Denver, Colorado has been known as one of the hottest places to live in the US and therefore is a popular place for real estate investors to buy investment properties. Denver’s growing economy, population, and housing market have created a favorable environment for investors looking for long-term investment opportunities. In this blog, we will explore why Denver is a popular place to buy investment properties.
Strong Economic Growth
Denver is home to a thriving and diverse economy that has experienced steady growth over the past few years. According to the Metro Denver Economic Development Corporation, Denver’s GDP grew by 3.5% in 2019, outpacing the national average. The city has a highly educated workforce, which attracts a range of industries, including technology, healthcare, and finance. These industries have created high-paying jobs and a strong local economy, making Denver an ideal location for real estate investment.
Growing Population
Denver’s population has been rapidly growing for the past few years, and this trend is expected to continue. The city has become an attractive destination for both young professionals and families looking for a higher quality of life. The city’s population has grown by 15% since 2010, and this trend is expected to continue over the next decade. This population growth has created a high demand for housing, making Denver an attractive market for real estate investors.
Low Vacancy Rates
Denver’s strong population growth and thriving economy have led to a low vacancy rate in the city. The Denver Metro Area has a vacancy rate of around 5%, which is significantly lower than the national average. This low vacancy rate has created a high demand for rental properties, providing a steady stream of rental income for real estate investors.
Appreciating Home Values
Home values in Denver have been appreciating steadily over the past few years. According to Zillow, home values in Denver increased by 7.6% over the past year and are projected to continue to increase over the next year. This appreciation in home values provides real estate investors with the opportunity to build long-term wealth through appreciation.
Favorable Landlord Laws
Colorado has favorable landlord laws, making it easier for landlords to manage their rental properties. The state’s laws offer landlords a wide range of protections, such as the ability to evict tenants for non-payment of rent and damage to the property. These laws make Denver an attractive market for real estate investors, as they can operate their rental properties with confidence.
If you’re thinking about Investing in Denver check out our tools designed to help our Colorado investors! Or listen to The FI Team podcast Invest in Denver for more great stories about those who invest in Denver!!
