Rent hikes in tech towns like Denver won’t last, says Apartment List

Megan Arellano

Dec. 30, 2016, 11:50 a.m.

Stairs and patterns. (Kevin J. Beaty/Denverite)

denver botanic gardens; residential real estate; kevinjbeaty; denverite; denver; colorado; — Stairs and patterns. (Kevin J. Beaty/Denverite)

For almost the past six years, rents in technological hubs like San Francisco, Austin and Denver have risen 1.6 percent faster than the rest of the country, according to Apartment List’s data.

But the tide’s about to turn, the firm says, because apartment supply is expected to peak in 2017. In fact, Apartment List predicts growths in rent will slow through 2021 in cities like Denver.

Part of the reason is that housing supply is catching up to demand. Denver in particular is among the cities with an increasing supply of rental units, according to the firm. Census data on November housing construction seems to back them up: New units in apartment buildings, those with five or more units in the building, have risen 52 percent compared to last year.

Plus, growth in the tech sector isn’t as strong anymore either, says the firm. The Denver technology and startup scene is free to take that as a challenge as long as they don’t end up hiking my rents as a result of their success.

Early voters drop off their ballots at a drive-through collection station outside Denver Elections Division headquarters on Bannock Street, Nov. 7, 2022.

Here’s why Denverites say they haven’t voted yet

Nearly 88% of registered voters haven't turned in a ballot, and older Denverites look like they'll be determining the future of the city.

The parking lot at the Sie Film Center on East Colfax Avenue. March 31, 2023.

The parking garage next to Tattered Cover, Twist & Shout and above The Sie FilmCenter is no longer free

Customers and employees of the businesses in the complex will receive free parking through a ticket validation system.

Fire crews respond to a small brush fire in Aurora on March 31, 2023.

Small fire near Cherry Creek State Park in Aurora has been contained

A small brush fire near Chambers and Parker roads forced a handful of homes to be evacuated.

Mike Johnston speaks during a kickoff event for "Yes on Proposition 123," support for a ballot measure that would increase funding for affordable housing in Colorado. Sept. 13, 2022.

Big out-of-state money is flowing to support Mike Johnston again

It didn't work in races for governor or U.S. Senate, but the super PAC backing him has already collected $1.8 million.

A street sweeper gives a (probably much needed) clean of Colfax Avenue. (Kevin J. Beaty/Denverite)

Denver Street Sweeping returns on Election Day

It's that time of year the streets get a little cleaner and drivers get more $50 tickets.

Morning sun pierces the haze around the Denver skyline, seen from the west, Aug. 12, 2022.

Who do developers want to be Denver’s next mayor? Here’s what public data shows

The industry has given to several mayoral and city council candidates, but developers' contributions to one mayoral candidate stand out.

Things to do in Denver this weekend, March 31-April 2

Russell Square Park reopens and more!

Ms. Lisa emcees a Healing Words Open Mic event in Sunnyside. March 24, 2023.

Words to Power’s Open Mic gives teens a space to air it out and be heard for a change

"The youth are speaking but people are not listening."

Pelicans at the Cherry Creek Reservoir. (Kevin J. Beaty/Denverite)

You can take your boat out on Cherry Creek Reservoir starting Saturday

All you need to know about getting out on the water.

Dazzle Denver's new location at the Denver Performing Arts Complex downtown. March 29, 2023.

Dazzle’s new location will feature artwork from local artists preserving the history of Colorado Jazz

The delay in opening has opened up opportunities for local partnerships led by Owner and President, Donald Rossa.

The Denver Public Schools Board of Education closes a special session on violence and safety. March 23, 2023.

What we know about the decision to reintroduce armed officers to DPS schools

What the Denver Public School board's decision from last week does and the schools where parents and students can expect to see police.

A light rail train pulls into RTD's Peoria Street station in Aurora. Aug. 10, 2021.

Service disruptions could be coming to an RTD line near you

Maintenance will affect the E, H and R lines, along with separate L line disruptions until October.

The University of Denver women's gymnastic team's Ava Mabanta flies through the air during a practice on campus. March 28, 2023.

DU gymnastics’ scores are up and the program is breaking records just in time to host NCAA regionals this weekend

It's the first step on the road to a national championship.

Denver Green School students pose for a photo during a field trip to the Park Hill Golf Course. Dec. 6, 2022.

Park Hill Golf Course’s future reimagined — by sixth graders

The kids were much better behaved than some adults as they discussed what they believe could be done with the 155-acre plot of land.

Denver's west side under many inches of snow. Dec. 29, 2022.

West Denver neighborhoods will be shaped for the next 20 years by the area plan City Council approved this week

The plan encompasses Barnum, Barnum West, Sun Valley, Valverde, Villa Park and West Colfax.

A security guard watches over a parking lot at East High School after a shooting there on March 22, 2023.

What Denver mayoral candidates on the ballot say about safety in Denver Public Schools and youth violence

Parents and students called for more gun safety laws and security measures liked armed officers in schools in the aftermath of the East High School shooting.