Guess what? Rentals still tight in the area
EAGLE COUNTY – Someone rolling into town today can find a place to rent – at a price.The valley’s larger apartment complexes – which are mostly priced with the valley’s working class in mind – are virtually full right now, and have been for most of this year.”Because of all the construction, we filled up 60 to 90 days sooner than usual this year,” said Ralph Parks, district manager for Corum Real Estate. That firm manages the Buffalo Ridge apartments in Avon, the Lake Creek Village complex in Edwards and Timber Ridge in Vail.Those complexes, along with the managers of other, smaller rental complexes priced with working folks in mind, have reported low vacancy rates throughout this year. Even in the traditional off-season months, vacancies never exceeded 5 percent, and for most of the year have hovered around 2 percent.”We see vacancy rates between 2 and 5 percent as essentially full occupancy,” Eagle County Housing Director K.T. Gazunis said.
While the valley’s larger and lower-priced rentals remain tight, the story changes a bit as the asking price goes up. The Colorado Division of Housing, which measures how many units are rented in the higher price ranges, has reported vacancy rates approaching 10 percent this year. At times, the state’s figures show vacancy rates around 20 percent.That can be confusing, Gazunis said.”The state’s numbers can confuse issues with developers,” she said. Some developers use the state’s numbers to show they don’t need to provide employee housing as part of a new project.”The fact is we need more affordable housing,” Gazunis said. But, with the exception of another 12 at the Golden Eagle senior apartments in Eagle, nothing new is in the pipeline right now.”If you have kids working for Vail Resorts who are willing to live dormitory style, you can find something,” Gazunis said. “But finding a place for a family would be super difficult.”================
What’s the average?State and local vacancy numbers can differ wildly. Here’s what the state thinks average rents are in the area. Rates are for unfurnished units, with tenants paying for gas and electricity.Average rent, all units: $1,074 per monthAverage rent, three-bedroom unit: $1,306
Average rent, one-bedroom unit: $869=======================Staff Writer Scott N. Miller can be reached at 949-0555, ext. 14624, or firstname.lastname@example.org.Vail Daily, Vail Colorado