Something shifted in January — and this January 2026 Denver real estate market update breaks down exactly what’s happening. Rents are resetting to 2018 levels. A third of all available apartments were built in the last decade. Colorado now ranks 5th nationally for outbound moves. 55% are leaving the state — the highest since 1990. Landlords across the Front Range are holding rents flat or cutting them just to keep units filled. But here’s what most people are missing — this same pressure is creating buying opportunities that haven’t existed in over a decade.
Chris Lopez sits down with his monthly market panel. Troy Howell with Nova Home Loans, Jeff White with Envision Advisors, Jenny Bayless covering Colorado Springs, and Shawn Riley from KeyRenter Denver all join the conversation. The group digs into the numbers. They share what they’re seeing firsthand from their own portfolios, clients, and deal flow.
Things get real when Chris reveals a fourplex across the street from his own just sold at his 2018 purchase price. That confirms what the data has been showing about multifamily. Then the panel unpacks a $30 million foreclosure on four central Denver apartment buildings. Zero bidders showed up at auction. Colorado residential land now averages $942,200 per acre — up 174% in a decade. That’s why starter homes have disappeared entirely. And Shawn Riley shares that rents on condos and townhomes are down 7-10%. Apartments are offering up to three months free rent, making it brutal for older inventory to compete.
In This Episode We Cover:
- Colorado Springs hits 4.5 months supply — officially tipping into a buyer’s market while prices hold mostly steady
- Why Denver inventory is building 7-8% year over year and new construction spec homes still aren’t moving even with builder-subsidized 4% rates
- The rental market resetting to 2018 levels and why landlords are holding rents flat to avoid costly turnover
- Section 8 developments including Denver paying 120% of fair market rents but freezing new voucher issuance and rent increases
- Room by room rental demand softening — what co-living operators need to know heading into spring
- Why the panel says this is Colorado’s first real buyer’s market in a decade and the 1031 exchange strategy to capitalize on it
- The new Fed chair nomination and what rate improvements of 0.50-0.75% from last year mean for refinance opportunities
If you’ve been waiting for a 2026 Denver real estate market update that actually tells you where the deals are, this is it. Whether you’re sitting on single family properties eyeing a move into multifamily, a landlord figuring out the right rent price, or an investor ready to pick up distressed deals at steep discounts, the panel breaks down exactly where things stand right now.
Watch the YouTube Video
Timestamps
00:00 — Welcome & Guest Introductions
01:13 — Colorado Springs January Stats — New Listings Nearly Double
03:44— Denver Boots on the Ground — Relisting Surge & Condo Financing
05:39 — Denver Metro Trends — Inventory Building & Prices Flat
07:44 — Colorado Land Up 174% — Why Starter Homes Don’t Exist
09:40— Builders Sitting on Unsold Spec Homes
11:11— Colorado Ranks 5th for Outbound Moves
11:55— Rental Market Reset — Rents Feel Like 2018
15:45— Room by Room Rentals — Flat Rents & Co-Living Rebrand
21:58— Section 8 Voucher Changes & Denver Paying 120% of Fair Market Rents
27:51 — Multifamily at 2018 Prices & $30M Foreclosure With Zero Bidders
35:05 — Renting vs. Buying — Jenny’s Real Numbers Comparison
37:53 — Mortgage Rates & New Fed Chair Nomination
41:24— Buyer’s Market Playbook — Time for Disrespectful Offers
Connect with our Guests
Jeff White: [email protected]
Troy Howell: [email protected]
- LinkedIn: Troy Howell
- Website: https://www.novahomeloans.com/loan-officer/troy-howell/
Shawn Riley: [email protected]
- Website: https://keyrenterdenver.com/
Jenny Bayless: [email protected]
Links in Podcast
Apartment vacancy in metro Denver reaches highest rate in 16 years, pushing down rents again
Realtors say it’s still a buyer’s market in Colorado, but high housing costs keep renters renting
Lender forecloses on four central Denver apartment buildings
Denver Multifamily Hits 2009 Cap Rates (8 Indicators We’re at the Bottom)
Download the Free House Hacking Spreadsheet
Subscribe to our Reactivated Deal Alert Emails
Who is Keyrenter?
Keyrenter Property Management Denver provides rental solutions for homeowners and real estate investors in the metro area who are interested in transforming their properties into passive income. It offers various services, from property marketing and thorough applicant screening to tenant placement and 24/7 maintenance services. Keyrenter Denver’s team of experts can take the clients’ burden of managing their rental off their hands so they can get back to what matters to them.
Who is Nova Home Loans?
For over 40 years, we’ve been focused on helping homeowners find the perfect loan to fit their financial needs and personal goals. Working with NOVA is a personalized experience from initial application to final loan closing and beyond. We will be with you every step of the way toward successful homeownership. Start working with NOVA & Troy Howell today!
NOVA FINANCIAL & INVESTMENT CORPORATION, DBA NOVA HOME LOANS NMLS 3087/ EQUAL HOUSING OPPORTUNITY/8055 EAST TUFTS AVENUE, SUITE 101/DENVER, CO
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