Lakewood is the 5th largest city in Denver metro and is home to 80 parks, a vibrant arts center and downtown Belmar shopping center.
Located just west of Denver, Lakewood has some of the best mountain views and easy access to great outdoor recreation including Hayden Park on Green Mountain for hiking and Bear Creek Lake Park for boating, fishing and camping.
Lakewood also has a good reputation for it’s public schools and options for higher education including Colorado Christian University.
There is a diverse range of housing available in Lakewood ranging from apartments, duplexes and single family homes. Investing in real estate in Lakewood Colorado is a good bet due to the proximity to both Denver and the mountains.
Lakewood enacted a new ordinance for short-term rentals in spring of 2023. STRs are permitted in primary residences with a valid license. A license will need to be renewed on an annual basis.
Only primary residences are eligible, not RVs, secondary structures or ADUs.
The new ordinance will be reviewed in Q4, 2024 to look back on what is working and what is not.
STRs must be owner occupied
A STR license is good for
A perfect middle ground between the income potential of a short-term rental and the stability of a long-term rental. Mid-term rentals are furnished units that are rented to guests for 30+ days. People who seek out mid-term rentals are traveling nurses and professionals on temporary assignment or people displaced from their homes for a duration of time. It’s become a popular investment strategy because in many areas, like Lakewood there is no rental license required. Use services like AirDNA to calculate what your potential rents could be.
Year over year increase in MTR nights sold
No license required for rentals
The “rent by the room” investment strategy involves renting out individual rooms within a single property, such as a house or apartment, rather than leasing the entire unit to a single tenant. This approach has gained traction as it allows investors to maximize rental income by catering to multiple tenants simultaneously. Each tenant pays for their designated room and shares common areas like kitchens and living rooms. This is a popular strategy among house hackers who choose to rent out the rooms in the house they are living in. In Lakewood you’re legally able to house 6 unrelated people in one rental unit.
Average Room Rent
Primary Room Rent
Long-term rentals are a smart strategy for a more hands-off approach and a buy and hold mindset. In an appreciating market, like Lakewood, if the property’s rent can cover the mortgage, plus an additional 10% for vacancies and repairs, then you’re property is increasing in value the longer you hold it. Check out the latest rent estimates on Rent-O-Meter or Zillow to see what your property might get for rents.
Avg. Rent 3 bed / 2 bath
Avg. Rent 2 bed / 1 bath
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