Small Colorado Town Sees Apartment Volume Skyrocket

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In 2023, the small Colorado market of Greeley added about 1,350 apartment units to its total inventory – an all-time high in the RealPage Market Analytics data set. Those 2023 deliveries brought total existing inventory to just over 17,500 units across the Greeley market, which marked a 63% increase in apartment inventory in the last decade. Greeley, located about 65 miles north of Denver and about 50 miles south of Cheyenne, has a total population of about 110,000 residents, per the U.S. Census Bureau. Meanwhile, there were another 2,500 units underway at the end of 2023 that are expected to deliver over the next year or two in Greeley. Average effective rents in Greeley stood at one of the lower rates in Colorado as of January, clocking in at $1,574. Comparatively, rents in Denver, Boulder and Durango hover around $1,900 per month.