2020 Q3 Multifamily Market Report
Investment Activity Takes the Spotlight in Denver’s Multifamily Market
The unemployment rate in the Denver Metro was 7.0% in August as compared to 12.3% during the height of the pandemic in April. While still far above the 2.6% unemployment rate achieved one year ago, the Denver Metro has added over 125,000 jobs since April and remains well below the national unemployment level of 8.4%. Furthermore, a flurry of coastal companies are looking to make Denver their next home. In the last six months, companies such as Wix, DAT Solutions, Amazon, Palantir Technologies, and Contentful have announced plans to move to or expand into Denver, tapping into it’s highly-educated, young, and tech-friendly workforce. Denver remains a prominent Live-Work-Play city and continues to benefit strong market fundamentals and continued net in-migration.