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Old 10-14-2017, 08:28 PM
 
259 posts, read 142,529 times
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How to do you all think of the current rent prices here in Colorado Springs for apartments/townhomes? This is a great place to live and all but I think getting a decent place to rent is a bit high. I've lived here for almost 9 years and have some family that wants to move back here. I've been looking around and it seems a bit pricey for something nice. Do you all agree or do you think I'm going a bit overboard? Honest answers are good!
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Old 10-15-2017, 09:48 AM
 
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Quote:
Originally Posted by Educator1982 View Post
How to do you all think of the current rent prices here in Colorado Springs for apartments/townhomes? This is a great place to live and all but I think getting a decent place to rent is a bit high. I've lived here for almost 9 years and have some family that wants to move back here. I've been looking around and it seems a bit pricey for something nice. Do you all agree or do you think I'm going a bit overboard? Honest answers are good!
Yes, prices are high and affordable inventory is low.
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Old 10-15-2017, 07:21 PM
 
Location: Colorado
1,010 posts, read 661,381 times
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Originally Posted by otowi View Post
Yes, prices are high and affordable inventory is low.
Inventory is about to go up dramatically. Will be interesting to see what happens to rents. I find rates reasonable but my prior apt was in San Diego. Lol
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Old 10-16-2017, 07:39 AM
 
Location: Colorado Springs
3,559 posts, read 2,718,829 times
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A rise in inventory may stabilize the increases to a more reasonable level, but I doubt it will be enough to drive them down at all. We have 800+ people a month moving to the area based on current trends. That is a lot of housing that is needed.

There are still some reasonably priced places around in decent areas, but they tend to get snatched up rapidly and may actually have waiting lists. There are a couple of rentals in my neighborhood. I have never seen them advertised, the tenants they have tend to stay for a few years at minimum, and when one tenant does moves out, another is moving in within days. I've never had a chance to talk to the landlords about how they minimize the turn over and avoid vacancies, but it would be interesting to find out.
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Old 10-16-2017, 07:42 AM
 
Location: Colorado Springs
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Build more mid rise residential units!
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Old 10-16-2017, 08:34 AM
 
5,846 posts, read 7,966,355 times
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Originally Posted by DrDog View Post
Inventory is about to go up dramatically. Will be interesting to see what happens to rents. I find rates reasonable but my prior apt was in San Diego. Lol
It is? What are they building?
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Old 10-16-2017, 08:37 AM
 
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When we moved here a year ago, we drove around the neighborhoods we were interested in and happened to find a house to rent just minutes after the landlady had put up a sign. She has eight rental houses mostly in the same area and just told us that her latest one was gone in a matter of hours after listing on Zillow. Price - $1800. Seems like there are a lot of under-employed moving here who expect to find something for $800 or less or even a room for $300.
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Old 10-16-2017, 08:41 AM
 
Location: Colorado Springs
3,559 posts, read 2,718,829 times
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Originally Posted by orngkat View Post
Seems like there are a lot of under-employed moving here who expect to find something for $800 or less or even a room for $300.

Agreed and this results in the huge number of panhandlers we have. This is why I always try to distinguish between true homeless vs underemployed. We have both standing on corners here but the underemployed have a lot more mobility in where they can go to solicit than the homeless do.
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Old 10-16-2017, 12:39 PM
 
886 posts, read 664,037 times
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its getting pretty expensive income to rent ratio. People keep moving here, that is mostly the reason. I dont mind, my house is going through the roof! Keep on coming to CO baby!! even though inventory is going up, predictions (as what I saw in FL and California) houses will continue to rise due to limited land. one of the first signs of this is usually lack of land being built around the house. MIami FL had a decent amount of land space until everyone started to flock. new houses and a bunch of apartments started flooding the market. Houses barely had any land any more. Same with california. Now its happening in Colorado
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Old 10-16-2017, 07:32 PM
 
Location: Colorado
1,010 posts, read 661,381 times
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Quote:
Originally Posted by otowi View Post
It is? What are they building?
Two very large apartment complexes almost finished at Voyager and New Life. A large complex at Powers and Barnes. Those are just the ones I’ve seen.
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