New Apartment Developments in Colorado Springs

[wilberry]

$2,200 a month it must be a mansion apartment

[dr.frog]

Originally Posted by wilberry

$2,200 a month it must be a mansion apartment

FWIW, last time I was a renter was 20 years ago, 2001-2002. I was paying $2200/month for a <600SF 1/1 apartment in Boston. I dunno, same apartment now might cost twice as much; the townhome in Cambridge I bought after that has more than doubled in value since then, at least.

Point being, Colorado Springs housing costs have long been way below those in many other cities which have had this problem of demand vs supply of housing driving up prices to crazy levels for *decades* already. Colorado Springs is still a relative bargain when you put it in a national context, which I think you have to do now that so many professionals have a telework option available to them and are not tied to having to live/work in a particular city; prices here still seem very reasonable compared to other cities where they might choose to live. (I was already in that situation myself 10.5 years ago when I moved here from Boston, but it was a lot more rare then than it is now, especially post-pandemic.)

It does kinda suck for students, low-paid service employees, and other folks on limited budgets, though. In Boston people often had housemates and/or lived in some of the dumpy unrenovated old buildings in less desirable neighborhoods. Some of the surrounding towns had much more of a working-class vibe than Cambridge too (especially after they abolished rent control).

[TCHP]

Sub $1000 apartments still exist in the south-east part of the city, but many of these complexes also have $1200-1800 units as well. To say that a "luxury" apartment on the north-east side is $2200+ doesn't surprise me in the least and may be a comparative bargain when put up against an $1800 unit off Hancock and Academy.

While Cos rent prices have historically been lower than national averages, so too has the pay of many of the jobs in the city and the divide between them has been steadily increasing over the last couple of decades as well. Six figured clearanced or software jobs are common these days, but we have also lost a lot of middle income manufacturing jobs that provided the stepping stones to promotion and education that is lacking in a lot of places now.

[chiluvr1228]

Originally Posted by wilberry

$2,200 a month it must be a mansion apartment

You would think so wouldn't you? While it's new and modern looking, it's nothing spectacular. My mortgage on a 2 bedroom 2 bath single family home is about 37% of what they pay for rent and I have an 80x125 lot with a fenced backyard.

[wilberry]

so where do all the construction workers live at? Mrs. Mendlebright 's at the local boarding house with Barney Fife?