Vail's Strong Rental Housing Market

The rental market in our area and other resort locations is very strong with rapidly rising rental rates. We have seen rents increase over 20% in the last two years in the Vail Valley. The woes and worries in the mortgage market have made it more difficult for lower end or first time home buyers to purchase real estate. As a result of this, more people are currently renting homes which is creating strong demand. The supply of rental housing in resort areas has diminished precipitously as the price of real estate has escalated so quickly in the last few years. With starter homes in the $400,000s, who can afford to buy right now? Affordable housing continues to be the "hot topic" for many resort areas where the number of service jobs is increasing but the availability of rental housing is just not sufficient. The average price for a lower-end rental is $700-$900 per bedroom. Being on the bus route and accepting pets are sales points which will likely raise your rental rates further.