One of the simplest and most practical ways to help solve Denver’s shortage of affordable housing may be found down the hall in a typical home, in that unused room with the door closed. Spare bedrooms typically rent for as little as half the cost of a one-bedroom apartment. Getting some of that extra supply into the market could bring down rents and ease the pressure on home prices, while also boosting the income of homeowners. But accomplishing that goal could take a shift in thinking among homeowners — particularly older ones who have extra space and could use the rental income — and efforts so far have had limited success. Of the 723,000 homes that are owner-occupied in the metro area, about 442,000 have spare bedrooms, according to an estimate from John Burns Real Estate Consulting. And of those, up to 142,000 are owned by retirees, who typically live in households of one or two and who might benefit from rent income. Real estate website Trulia is more conservative, estimating that older homeowners in the metro area have about 72,000 available spare rooms. “The biggest supply of vacant housing is empty bedrooms in existing homes.
Denver Has More Spare Bedrooms Than Ever, But Using Them To Help Solve The Housing Crunch Is A Challenge
Aldo Svaldi, Denver Post: Business
Tue, 03/20/2018 - 5:00am
Topics: spare john burns real estate consulting chris porter irvine christian living communities denver-based silvernest providence home share sunshine homeshare craigslist apartment rj sangosti the denver postafter feb wisconsin colorado springs colorado woodmoor related articles bay area opposition vanishing denver metro chamber commerce in december sally while farris lisa kautz yates rooms colorado futures center colorado state university piton foundation phyllis resnick using mikaela sharp when silvernest ceo job colorado s front range matching renters all jennifer newcomer gary community investments what i colorado homestead exemption john burns i trulia the john burns calif denver colorado a christian silvernest silvernest denver john yates farris yates a front range i it i resnick new solve older adults homeowners age young property daughter stay extra affordable house years people space don market taxes rents land break move doesn research long shortage owned labor shared shortages number owner year supply sense one-bedroom younger spouse tax moved passed markets decade perfect rented lot longer meet costs homeowner tenants matched
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