Denver Multifamily Market Report

2020 Q4 Denver Multifamily Market Report

Q4 Ends on a High Note as Market Begins to Rebound

With Denver continuing to prove itself as a top tier city, the demand for apartments remains extremely high. According to Yardi Matrix, more than 10,000 units were delivered to the metro area in 2020. Despite the number of units under construction nowhere close to 2019 or 2018 levels, Denver currently has over 17,900 units underway with more forecasted in the near future as mitigations to fight COVID-19 are in full effect despite construction down 51% year-over-year. More and more companies announced their relocations to Denver with the likes of Healthpeak Properties and Ispace U.S. Technologies. Denver ranked seventh in RentCafé’s Top 15 Hottest Cities for Millennial Renters in the Past Five Years with Seattle ranking first.