The tide might be turning in Boulder’s crazy rental market, as vacancy rates hit highs not seen since the Great Recession and property managers say apartments are sitting empty through several price drops.
Boulder’s vacancy rate (not including the university area) rose to 7.2 percent in the past three months in the city, according to the Apartment Association of Metro Denver (AAMD.)
The last time it was that high was 2009. In fact it’s only been over 7 percent twice in the past decade: third quarter ’09 and today.
Vacancy rates have been trending up all year, and rents dipped slightly in early 2016. But they rebounded to new and historic heights in the following months, and landlords reported no trouble filling high-priced units.
Now, though, the picture appears to have changed.
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