COLORADO SPRINGS, COLO. -- If you are in the market for an apartment in the Colorado Springs area, you may be having a difficult time as vacancy rates are low in and around the city.
A recent study out of the University of Denver found the vacancy rate in the Colorado Springs Metro area is currently 6.4 percent. That is up slightly from 5.8 percent in 2010.
But, when compared to the previous six years, the vacancy rates are down seven percentage points.
Local experts said the low numbers are the result of several factors including troop movement at Fort Carson, and the struggling housing market.
"We have looked at three or four different apartments, and right now none of them are open," Colorado Springs resident Betty Pack said.
Pack has been in the market for an apartment for several weeks. She said she has the money for a deposit and first month's rent, but still nothing is available.
"It is not very fun trying to find an apartment right now," Pack said.
Pack is not alone in her frustrations.
Local realtors said apartment vacancies are few and far between, especially three bedroom units.
"It is a very high occupancy, it takes just days to get them rented and filled, so we try to work with programs to make sure we are turning our units as fast as possible," Pat Stanforth said.
Stanforth is the Senior Vice President of Griffis Blessing. Her company manages 20 apartment complexes in the Colorado Springs area.
She said right now most of their properties have occupancy rates between 95 and 98 percent, and added near Fort Carson some buildings are at capacity.
"I feel sorry for them (renters) because down in that area it is very tight, so they are having to come more and more to the north, which is great for the whole city, but it is hard," Stanforth said.
In some cases Stanforth said military families transferring to the Springs are paying rent in advance to reserve an apartment.
"It is an unusual situation, we have not seen this in a really, really long time," Stanforth said.
For those who do not plan ahead, Stanforth said they unfortunately end up on waiting lists, forced to improvise until something opens up.
"We could not find an apartment, so we had to find a roommate that had a house already to stay with, and we pay rent there," renter Adam Brown said.
Another problem for some is price.
According to the same study, the average monthly rent for a Colorado Springs area apartment jumped to a record high of $759 during the second quarter of this year.
That is up $40 from the same time period last year.