Homebuyers in metro Denver are getting stretched by high home prices and rising interest rates, but the situation isn’t as bad for renters in market-rate and professionally managed apartment …
getting stretched by high home prices and rising interest rates
Renters in those units, which make up under half the total apartments out there, are paying on average 21.8% of their household incomes in metro Denver toward the rent, according to a new affordability study from RealPage. “Some of the income levels in Denver have increased over the past two years because you are capturing residents who have lived in higher cost areas,” said Carl Whitaker, director of research and analysis at RealPage. “They are maintaining their San Francisco salaries but applying it to Denver rent. That does influence some of the numbers.”
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