Management Panel:
David Jaudes, Terrance Hunt, Cindy Clare, & Darren Everett
Colorado’s current economic health gives
housing industry professionals the space for
proactive thinking towards the future. A stable
market is not guaranteed, so it is important to
study past trends to before making decisions for
the future.
The most dominant trend from the last
decade was the surge of millennials moving to
Colorado. From 2000 to 2020, over 200,000
millennial residents flooded the housing market.
The influx spiked in 2014, and Denver simply
did not have enough housing to sustain the
growth, so rental rates hit a record high.
28 | TRENDS JANUARY 2020
In the years following, Denver has pushed
rental growth back down by continuing to build
a large supply of new houses and rental units.
As of 2020, the millennial surge has largely
abated and Colorado rental rates have decreased.
The circumstances surrounding 2014 are not
likely to be repeated.
The market may be safe today, but it is
important to note potential risks, particularly
surrounding housing construction. Construction
of new units has decreased over the past two
years, 20% from between 2018-2019 and 25%
compared to 2017. If this trend continues, rental
rates will inevitably increase. While out-of-state
Teo Nicolais speaks on the 4th
quarter Vacancy & Rent Report
www.aamdhq.org