Although the high cost of housing is still in the headlines, Denver renters are seeing a brighter picture now as developers and managers cut rents and offer free-month subsidies to move a glut of units built during 2024 and 2025.
That’s great news for those renting — but it is creating a perplexing market for city and state agencies that offer subsidies to boost construction of affordable projects.
Opting for market-rateunits
That’s according to analyst Scott Rathbun, owner of Denver-based Apartment Appraisers & Consultants, Inc., which issues the monthly “Apartment Insights” report used by multifamily developers and managers to plan their operations.
According to new data released last week, renters of subsidized affordable units are, in some cases, opting to move to conventional, non-subsidized units as they take advantage of market-driven rent decreases…