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3/24/2009
 Just how desirable is Boulder and what are home-seekers willing to pay for a Boulder address and the incredible lifestyle that Boulder offers its residents?
Plus, there is always a good chance that today’s renters are tomorrow’s buyers, so it’s good for me to keep a pulse on the Boulder rental market. And that market is on fire!
While vacancy rates in the Denver-metro area hit a two-year high by December of 2008, the vacancy rates in Boulder and Broomfield counties declined from 5.9% in Q1 of 2008 to 3.9% in Q4 2008. Rentals are hard to come by in Boulder and that means they aren’t cheap either. The average rent for apartments in Boulder and Broomfield counties has jumped 18% since late 2007 to $1,453, which is the highest on the Front Range. Denver’s average apartment rent is $995. This data all pertains to apartments rentals and its surge likely can be attributed to a thriving student population at University of Colorado. The University’s largest freshman class in years is currently in the dorms and looking for off-campus housing for the 2009-2010 school year.
With interest rates low and resale inventory plentiful, it’s a prime time for CU parents who may be thinking of purchasing a Boulder rental for their college-aged kids. Our office at Sotheby's International Realty is located in the heart of Boulder at 1500 28th Street. Our team's native knowledge of Boulder can be a great tool for those considering the purchase of a rental investment. Call us at 303-440-4999, email us or stop by our office today
Written by Scott Franklund
Founding Broker of the Boulder Fuller Sotheby's International Realty
To read previous and current postings to Scott Franklund’s Blog, The Legendary Report, please visit LegendaryReport.blogspot.com
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