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Denver Apartment Market Surges


Apartments beefed up the Denver-area economy to the tune of $10.4B in 2013 and supported more than 97,000 jobs, according to a new study by NMHC and the NAA, undertaken for the orgs by economist Stephen Fuller at George Mason University's Center for Regional Analysis. Apartment construction contributed $1.6B in economic activity, with another $1.6B added by apartment operations. Metro Denver renters, who total about 440,000 people, paid $7.1B in rents in 2013. The sector's ballooning, too: greater Denver added 9,000 new apartments in 2014, up from the 4,200 built in 2013. [NMHC/NAA]