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Old 03-12-2018, 01:21 PM
 
936 posts, read 587,382 times
Reputation: 1435

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Quote:
Originally Posted by orngkat View Post
I have mentioned this before but reading the Housing Wanted section of craigslist is pretty eye-opening concerning people moving here with nothing more than a wish that it will work out.
I took this suggestion and looked at those Craiglist ads- quite a lot have a few things in common:

1. Potential LL's must accept tenants without any verifiable income or references
2. Most have dogs/cats
3. Most say something similar to "must be 420 friendly etc.."
4. Quite a few just want a couch to sleep on- you may have to worry about having a "squatter" on your hands after a few nights (!).

Definitely see quite a few expecting utopia when they get here- if they sober up reality will bite them hard pretty quickly.
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Old 03-08-2019, 05:09 AM
 
Location: Colorado Springs
6,070 posts, read 6,381,640 times
Reputation: 21018
Default The Rent is too damn high!

https://www.kktv.com/content/news/Co...506744071.html

"COLORADO SPRINGS, Colo. (KKTV) - Calling Colorado Springs home comes with a price tag that only seems to be increasing!

A new report by Apartment Guide listed Colorado Springs as one of the top 10 American cities where studio rent is increasing the most. Click here to read the full report.

According to the report, the average cost to rent a studio apartment is $915 per month. The amount is about a 19.5 percent increase compared to last year. That percent of increase put the Springs at number eight on the top 10 list.

The report only includes the 100 most populous cities in America. They utilized rental property information from December 2017 to December 2018 on Apartment Guide and Rent.com. Rental prices are based on available multifamily rental property inventory from January 2019.

Arlington, Texas topped the list for largest increase, up about 40.6 percent. However, the average cost to rent a studio apartment is $877 per month, about $38 less than Colorado Springs.

Number 10 on the list has a higher rental amount than Colorado Springs each month. The report states the average studio apartment rental in Sacramento, California is $1,338 per month. The increase was about 18.3 percent since last year, but hundreds of dollars more than the average in the Springs."


I feel so fortunate to be retired while living in a paid off house.

Imagine having to deal with a 19% rent increase.
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Old 03-08-2019, 08:24 AM
 
Location: Colorado
1,010 posts, read 692,464 times
Reputation: 1156
In San Francisco, an average 1 bedroom apt is $3600.
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Old 05-02-2019, 04:30 AM
 
Location: Colorado Springs
6,070 posts, read 6,381,640 times
Reputation: 21018
Colorado Springs apartment rents climb to another record high during second quarter

https://gazette.com/business/colorad...c6322ea60.html

"Colorado Springs-area apartment rents have resumed their record climb.

Rents in the first quarter of this year averaged $1,171.62 a month, eclipsing the record of $1,156.76 set during the second quarter of 2018, according to a report by the Colorado Division of Housing and the Apartment Association of Southern Colorado.

After breaking last year’s record, rents stabilized somewhat; they were practically unchanged in the third quarter and fell by about $6 during the fourth quarter of last year.

Colorado Springs’ lack of affordable housing also has been blamed in part for a rise in homelessness , with some low-income earners being unable to afford higher rents.

El Paso County’s population of nearly 714,000 in 2018 trailed that of Denver, but is increasing at a faster clip, according to U.S. Census Bureau figures released last month. The area’s unemployment rate, meanwhile, fell to 3.9% in February after having edged up beyond 4%.

Commercial development also is hot in several parts of town, such as the north and northeast sides, where new stores, shopping centers, restaurants and entertainment centers are taking shape.

“Outside of the apartment world, the economy is booming and population growth is really driving rent growth,” McKenna said. “And even as we’re at an all-time high, rents in Denver are still 40% higher.”"


Hey, at least we're not as high as those guys.
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Old 07-31-2019, 04:41 AM
 
Location: Colorado Springs
6,070 posts, read 6,381,640 times
Reputation: 21018
Default Higher and higher

https://gazette.com/business/colorad...f2cbc7d4c.html

"The cost to rent a Colorado Springs apartment continues to skyrocket and shows no signs of slowing from its record-setting pace.

In the second quarter, Springs-area rents averaged $1,215.67 a month — a 5% increase from the same period last year and the first time rents have surpassed $1,200, according to a report from the Colorado Division of Housing and the Apartment Association of Southern Colorado. The latest figure also is the second consecutive quarter that rents have hit a record high."

"Through the first half of 2019, 727 apartments were added to the overall supply, which now totals nearly 51,000 units, according to the Housing Division report. But apartments are being occupied at a relatively fast clip; the area’s second quarter vacancy rate fell to 5.4%, down from 6.3% a year ago, the report showed.

“While we’re adding some supply, it’s a small amount compared to our overall inventory,” Winegar said. “It’s not like we’re adding 10% more apartments to Colorado Springs. It’s a smaller number, and they come on slowly.”

Don’t expect rents to retreat anytime soon, Winegar and McKenna said."

I'm surprised that demand is still over running supply.
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Old 07-31-2019, 08:38 AM
 
Location: Colorado
1,010 posts, read 692,464 times
Reputation: 1156
I’m surprised at this a little. In the past 6 months, within a mile of my home, about 1000 apartment units have been built.
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Old 07-31-2019, 08:52 AM
 
Location: Colorado Springs, CO
178 posts, read 102,875 times
Reputation: 199
Crunch time for me now in finding an apartment as I'm moving to Cos the last week of August. I have a friend who's helping me by scouting out places within my price range. Although there are apartments the we checked out in the $1200 range, we are finding decent 1 bedroom apartments in the $850-$950 range. Wish me luck!
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Old 07-31-2019, 10:02 AM
 
936 posts, read 587,382 times
Reputation: 1435
People who can pay that type of rent have to work in Denver where wages are much higher- or have 2-3 roomates to make it happen.

Unfortunately the Gap commute makes life pretty tough if you have to do that.
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Old 07-31-2019, 12:22 PM
 
Location: Colorado Springs
3,698 posts, read 2,931,598 times
Reputation: 4559
I have a rental off I-25 in central Cos. Last time it was available, I'd guess at least a third of our applicants were working in Denver.

My Grandfather made that commute back in the late 60 early 70s. It wasn't so bad back then, but I wouldn't want to do it daily today.
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Old 08-05-2019, 04:41 AM
 
Location: Colorado Springs
6,070 posts, read 6,381,640 times
Reputation: 21018
Default Rental rates continue to rise in Colorado Springs

https://www.fox21news.com/news/local...orado-springs/

“The chasm between our apartment lease rates and Denver’s used to be really big. It’s not so big anymore.” said Tatiana Bailey, the director of the economic forum at the University of Colorado Colorado Springs.

According to a study from the University of Denver, commissioned by the state division of housing, reports rents in Colorado Springs average $1,222, up from $1,140 at this time last year.

For rentals built between 2000-2009, rents average $1,401 and 2010-2019 average $1,485. In the last quarter of 2018, the latest data available via the State, Denver’s apartment rates averaged $1,456.

“It’s a growing pain. It’s in some way a good problem to have in terms of good economic growht and vitality in the region,” said Bailey, “but, the downside is it makes things less affordable for individuals who do move to the area.”

Bailey says, Colorado’s growth is coming to Colorado Springs, meaning more people on the apartment hunt. She also says, people who would typically at the age when they would by their first home are not doing so at a pace similar to years past, meaning they are still renting their homes.

“A lot of good studies have been done and student debt has a lot to do with it. Student debt is about $36,000 for the average graduate in the United States,” said Bailey, “That’s a lot of money if you’re making payments on that sometimes also with a car payments, how do you save for a down payment?”

Vacancy rates are lowering as well, meaning fewer apartments are available. In 2017, the vacancy rates in the city were at 7.4 percent. Now, the study reports it is 5.6 percent.

“I think we’ve been behind for quite some time,” said Laura Nelson, “We just simply can’t build fast enough.”

Nelson is the executive director for the Apartment Association of Southern Colorado."
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