An effort to build more affordable housing in Denver ended in a spike in new luxury builds

DENVER — When traveling through downtown Denver, it doesn't take long until you spot a "for lease" sign in front of an apartment complex.

There are plenty of options for new, amenity-rich apartments, with cranes in the skyline building even more. But are there too many options?

"Developers have been very interested in building rental housing here in Colorado, and the supply of new housing has exceeded consumer demand," said Andrew Hamrick, senior vice president of government affairs for the Colorado Apartment Association. Pictured: Andrew Hamrick, senior vice president of government affairs for the Colorado Apartment Association

Overall, that's led to a historically high vacancy rate of 6.4% in the Denver metro area as of the second quarter of 2025 . The vacancy rate, however, is dow