Colorado vacancy, rent survey reduces Steamboat report to once per year
Steamboat Springs — A report from the Colorado Division of Housing showed that multifamily rents on the Front Range have reached all-time highs in the first quarter of 2014, but for the first time, information about Steamboat Springs is missing from the report.
While major metro areas in the state get the survey completed quarterly, budget cuts at the Division of Housing have scaled back reporting for smaller areas such as Steamboat to only once per year in the third quarter.
Up until this year, the survey provided vacancy and rent information for multifamily units in Steamboat Springs in the first and third quarters, which were conducted in March and September, respectively.
Ryan McMaken, of the Division of Housing, said reporting for smaller areas dropped off some after the survey’s founder, University of Denver management professor Gordon Von Stroh, died in 2012.
The survey is extremely expensive to complete for areas such as Steamboat, McMaken said, and the department has received numerous budget cuts in the past decade. There are no special funds set aside for the survey, he said, and money must be found out of the department’s general budget. The multifamily survey is the only vacancy and rent survey conducted by the Division of Housing that includes areas outside of major metros.
Now, McMaken said, the Division of Housing and the survey’s authors, Ron Throupe and Jennifer Von Stroh, will focus on markets where they can get “more reliable sample sizes.”
Colorado Springs, Fort Collins/Loveland, Grand Junction, Greeley and Pueblo will continue to have the survey done every quarter. Alamosa, Aspen, the Central Mountain areas, Durango, Eagle County, Fort Morgan/Brush, Glenwood Springs, Gunnison, Montrose, Southeastern Colorado, Steamboat, Sterling and Summit County are the areas where reporting will be reduced to once per year.
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