Here’s a quick digest of what happened in Denver real estate last month:
+ Denver ranks as the 12th least affordable city as the typical home now costs five times the average family income. The rule of thumb for affordability is a price-to-income ratio of 2.6.
+ Ballot measures 2B, 2F, 301, 302, and 303 pertained to real estate or housing in Denver’s election this year. Statewide, Prop 120 sought to reduce the property tax assessment rate for multi-family homes. Results can be found on Denvergov.org and ballotpedia.org, respectively.
+ Vacancy rates for Denver apartments stood at 3.8% in the third quarter. Aurora, Broomfield, Golden, and Longmont have even tighter markets. When vacancy rates dip below 4%, dramatic increases in rents tend to follow.
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