In Falcon and the surrounding area, as well as all of Southern Colorado, the demand for apartments and rental houses is increasing.In December 2020, the vacancy rate in the Colorado Springs area for apartments stood at 4.9%, down from 5.3% in the previous quarter, said Lara Nelson, executive director of the Apartment Association of Southern Colorado.ìRents are pretty much a product of supply and demand,î Nelson said. The demand for apartments is up, and there is a shortage of homes for sale in the Colorado Springs area.Nelson said there is less than a month’s supply of housing for sale in the area. As of December 2020, there were only 2,000 apartments available in all of Southern Colorado, she said, adding ìthere is demand all over.î Nelson said the median apartment rent in the Colorado Springs area is about $1,261.Dave Ahrens of Eastern Plains Real Estate said there are not many rental houses in the Falcon area. According to Multiple Listing Service, the majority of rental houses are west of Falcon. However, Ahrens said not all landlords list with MLS.ìAbsolutelyî was Jody Hefnerís reply, in response to the increase in housing demands. Hefner, a real estate agent with the Platinum Group, said people were coming into his office all the time asking about rentals. He said available rentals are gone within a week, and the amount of rent depends on the size of the property. For example, the rent for a small manufactured home on 5 acres could range from $1,300 to $1,400 a month.The influx of COVID-19 has had an unexpected effect on the rental market. ìWe have seen a whole influx of people moving into Southern Colorado because of COVID-19 since they can now work from their home,î Nelson said.There is good news for those who are out of work because of COVID-19. Rental assistance is available through the Emergency Housing and Assistance Program of the Colorado Department of Public Affairs. For more information, visit http://coehap.co.us.
