DENVER—The vacancy rate in affordable housing across Colorado fell to 4.7 percent in the second quarter, signaling a tightening up of the market, according to a survey released Monday by Colorado officials.
The rate for the second quarter ending in June compared with 6 percent in the first quarter, 5.2 percent in the fourth quarter of 2006 and 4.7 percent for the third quarter of 2006 which was the first time the Affordable Housing Vacancy and Rent Survey was conducted.
The survey tracks vacancies in rent-restricted units catering to low-income households and is compiled by University of Denver Business Professor Gordon Von Stroh.
Van Stroh said a vacancy rate below 5 percent indicates a tight market.
The smallest rate of vacancy for rent-restricted housing was 1.7 percent in Grand Junction, followed by Pueblo, 4.1 percent; metropolitan Denver, 4.3 percent, and Colorado Springs, 5.1 percent.
The highest vacancy rate was in Fort Collins at 8.2 percent, followed by Loveland, 7.8 percent and Greeley with 5.6 percent.
The survey was released by the Colorado Division of Housing and the Colorado Housing and Finance Authority.
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Information from: Rocky Mountain News,
