According to Axios.com, the United States population increased by 1% between July 2020 and July 2023. By contrast, Colorado's Mile High City region, which includes Denver, grew by 1.2%, welcoming over 35,000 new residents.
Such figures show that the Denver, CO, area is popular, so real estate investing here can prove lucrative. However, you may have difficulty finding the best investment opportunities in Denver unless you know its up-and-coming neighborhoods.
Luckily, PMI Denver West has your back. Read on to discover the top up-and-coming Denver areas you should consider investing in.
Lower Downtown
According to the Denver Public Library, Lower Downtown, also called "LoDo," is one of Denver's oldest original settlements. It's a 23-block area well-known for its nightlife and, interestingly, used to be "a little sketchy" back in the 80s. The neighborhood has revived and is now a mix of historical charm and the appeal of modern amenities.
Lower Downtown is just a 5-minute drive from Upper Downtown, but its office market has lower vacancy rates, per Colorado Biz. And while Upper Downtown is also a great place to invest in, it's already an established area, so expect its prices to be higher than in LoDo. Since your goal is to invest in the up-and-coming areas of the Denver property market, then LoDo is one of your top options.
Virginia Village
Another of the best Denver neighborhoods to invest in is Virginia Village, just a short distance from Downtown. It boasts many parks and green spaces, making it seem like you're far from the bustling city life when, in fact, it's only about a 15-minute drive. You'll find this growing neighborhood southeast of Cherry Creek.
Virginia Village is continuously improving, with more building plans underway. So, before you run out of options, consider looking at what's for sale here and conducting property inspections and rental analyses. You may just find your perfect investment property; when you do, buy it while its price is still low to earn excellent rental income later on.
River North Art District (RiNo)
As its name suggests, River North Art District is a hip enclave known for its vibrant art scene. However, there's more to it; it also offers a mix of residential and industrial properties, with amenities like unique dining and breweries.
In RiNo, you'll find many old, historic warehouses with modern amenities converted into studios, lofts, and commercial spaces. You'll also find modern townhomes, luxury condos, and beautiful homes for rent. The neighborhood's charming marriage of the old and new makes it an ideal place to buy investment property if your target renters are those seeking a vibrant urban lifestyle.
Ready for a Savvier Real Estate Investing Experience?
Now that you know more about real estate investing in Denver's up-and-coming neighborhoods, it's time to find a partner you can trust to simplify the process.
PMI Denver West provides professional real estate brokerage and property management solutions throughout Denver, CO. We can help you find and buy investment properties that meet your criteria and manage them. From marketing to screening tenants, collecting rent, and enforcing the lease, we can do all these and more for you.
Call us today to learn how we can enhance your real estate investing experience!
