Many people throughout the area have been forced to move back in with the parents or get a roommate, just so that they can afford to live. More and more houses are coming up for rent, but for that you need either more money or several other people to go in on it with you.
The Colorado Division of Housing listed the average vacancy across the state as only being 5.2%. Here in Denver it's 4.8%. In the Fort Collins and Loveland area it's at 3.5%. Affordable housing is in such a demand that listings are lasting only hours before disappearing again.
Because of this shortage of space, renters have raised their prices. Yup good ole supply and demand at work. How we hate you right now, but love you when you work in our favor. The statewide average rent is now at $942 a month, with Denver facing $980. Those are simply amounts that most people just can't afford.
The recession and the poor lending atmosphere caused a halt in construction of new apartments, yet people kept moving here. Demand has caused building to begin again, but most won't be opening for twelve to eighteen months. Til then the search must continue, fruitless as it may seem.
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