For Multifamily Executive, Hamilton Zanze CEO Kurt Houtkooper details the reasons for optimism about the multifamily market and his company’s plans for 2024.Read
Fort Collins Multifamily Occupancy Remains Tight
Despite new apartment construction in Fort Collins, rents and vacancies remain high, especially near Colorado State University. The Colorado Division of Housing reports that 1,400 beds became available for CSU students between July and August in addition to the 396 apartment units that have come online this year for the general public. Still, occupancy near campus remains extremely tight, with vacancy rates under 1%.
The new units also did little to drive down the city’s average rent of over $1,000, although they may slow down rent growth. “It would take a lot of new construction to see a decline in the actual rent level,” said Ryan McMaken, spokesman for the Colorado Division of Housing.
Read more at Coloradan.com