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Denver’s Solution To Its Housing Crisis: Subsidize Rent For Expensive, Empty Apartments

FAST COMPANY (January 12, 2018) – The Denver metro area has about 16,000 vacant units, according to figures from RealPage, a real estate data firm. But most of those are at the high end–an average of $1,600 a month for a single bedroom. Indeed, that’s how it is in many cities around the country.

Occupancy rates remain above 95% on average nationally, with availability tending to be in new, luxury-type stock rather than moderately-priced older buildings. New York is another metro area with a glut of high-end buildings: there were more than 60,000 vacant units in 2017, according to RealPage, up from 49,000 in 2012.

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