How Hard Is It to FInd an Apartment in Grand Junction, Colorado?

The mood is not so good for apartment hunters on the Western Slope. We asked you this week how hard it is to find an apartment in Grand Junction, Colorado. The answers are about what we expected.

Radio is a career that takes you to a ton of places. I've enjoyed nine states over 26 years, and Colorado is easily the most expensive state I've ever lived in. Let's look more closely at why finding an apartment in Grand Junction is nobody's favorite pastime.

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Why Is Rent So High In Grand Junction?

Rent in Western Colorado for multi-family units by 22% between the first and second quarters of 2022. It has not come down; many feel it keeps inching up. Property owners feel the demand is strong and vacancies are low, so they are not about to lower their prices. Many prefer single-family housing vs multi-family units, and that may be driving up single-family housing costs even more.

How Much Income Is Required To Rent?

The average cost of rent for a one-bedroom apartment in Colorado in 2022 was $1,364. My rent has been way higher than that since before 2021. Ugh! In 2022, you had to earn $49,000 to qualify to rent an apartment in most places. The individual mean income for Coloradans in 2022 was $37,000.

Protections For Residential Tenants

In 2023, Colorado passed Senate Bill 184 by a vote of 9-4 to offer protections and caps on security deposits and first and last month rent requirements. Critics of the bill say the simple fine of $50 does little to stop property owners from charging more than the cap allows. Multiple offenses result in fines of $2500 or more. As a result of the bill, landlords are no longer allowed to require your income to exceed 200% of their rent fee.