Why It’s So Hard to Find a Budget Apartment in Denver

An apartment complex at 1590 Little Raven Street.

Why is it so hard to find a reasonably priced apartment in Denver right now? One reason is that so few of them are being built, because developers continue to focus the vast majority of their resources on projects that only rich people can afford.

Indeed, a new study finds that 88 percent of apartment projects built within Denver city limits in 2017 and 2018 to date fall into the luxury or high-end category. And believe it or not, this number is actually down from the percentage of high-end projects built over the previous few years.

The report, just issued by RENTCafe, identifies the disproportionate number of luxury apartment buildings under construction as a national trend. Across the U.S., luxury projects accounted for 79 percent of new apartment units in 2017.

Inside a unit at 975 North Lincoln Street.

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