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Denver Rental Property - Denver Rental Property for Investing and Living

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Denver is the capital city of Colorado. It is also has the highest population of any city in the state. Besides being a city, Denver is also the name of the county which has been consolidated into the city, so both are one entity. The city rests on the high plains east of the Rocky Mountain Front Range. Denver is nicknamed the “Mile-High City” because of its elevation, which is 5,280 feet above sea level. As of 2009, the population of Denver was 610,345, but the 10-county Denver metro area, that includes Boulder and Aurora, has a total population of 2,552,195. Denver is the second-largest city in the Mountain time zone and is a business center of the region.

Denver rental property can be a challenging investment and must be timed right. Denver has succumbed to the housing glut just like the rest of the country. Investors are buying the foreclosures, and depending on the ratio of new foreclosures to those bought, the rental property supply goes up or down.

Many people who watch the Denver rental market also watch the trends in California. Whatever happens in California cities of similar size, such as San Jose, usually makes its way east to Denver. The Denver newspaper, The Rocky Mountain News, helps those interested by publishing articles not only about local real estate trends, but also those of California.

One expected change in the Denver rental property market is expected to come from the grounds of the old Stapleton airport. The old airport was very near downtown, and the bulldozers are just beginning to track through to start developing expensive, high-density housing.

Other ongoing projects in the downtown area have brought new life to the city, also. Part of this reinvigoration is all new sports complexes for basketball, football, and baseball.

Another project that that has affected rental values is the new light rail system implemented by Denver. Homes near the light rail have gone up in value and rents have increased proportionately.

Denver rental property is still maintaining some steady averages. Single bedroom apartments average at $764 while four-bedroom apartments are at $1,441. For condos, the price jumps up to $836 for a one-bedroom and $2,119 for a four-bedroom. The average rent for a single-family home with two bedrooms is $1,102 and a house with four bedrooms is $2,108.

Developers of low-cost housing in Denver do not always do well. In this economy, many have gone bankrupt. On the other side of the coin, high-end loft rental in the downtown area are booming with no stop for demand in sight.

Denver rental property will always have a place in the city, no matter which neighborhood you choose. Some of the neighborhoods with rental properties in Denver are Alamo Placita, Baker, Cherry Creek, City Park, Five Points, Highland, LoDo, Montbello, and Washington Park.

Many people and families have abandoned their Denver rental properties for some of the nearby suburbs. Here are some of the communities near Denver with rental property:

• Arvada – This community is northwest of the city, and commuting downtown is a simple matter. Several parks and golf courses are in Arvada.
• Aurora – Aurora is not exactly a suburb, but a city in its own right, being the third largest in the state. It is close to the Denver airport and includes the new Stapleton neighborhood.
• Bailey – Baily is one hour southwest of Denver. Houses are the main form of living structure in this mountain community.
• Bennett – Bennet is east of the airport.
• Black Hawk – This is a gambling town west of Denver.
• Castle Rock – This is 30 minutes south of Denver.
• Centennial – This is a great place to live for those who work in the Denver Tech Center.
• Edgewater – Edgewater is on Sloan Lake east of downtown. It has large apartment buildings and houses.
• Erie – Erie is one of the fastest growing suburbs of Denver.
• Golden – Best known for the Coors brewery, a lot of new housing is going up in Golden.
• Highlands Ranch – This is a very new community.
• Kiowa – Kiowa is primarily a ranching community.
• Littleton – This suburb is west of downtown and offers great views of the city.
• Thornton – Just 10 miles north of downtown, Thornton is often recommended as one of the best places to live in the U.S.
• Wheat Ridge – Wheat Ridge is just west of downtown.

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