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Renters Prefer States With Legal Pot

Colorado and Washington experience sharp increase in rentals.

Voters in Colorado and Washington approved legalized recreational use of marijuana.
Voters in Colorado and Washington approved legalized recreational use of marijuana.
Apparently, legalizing marijuana can do wonders for the rental market.

According to ApartmentGuide.com internal data, Colorado and Washington are both seeing an influx of new residents at a rate higher than the rest of the nation.

Properties listed in Colorado saw an increase of more than 26 percent in unique visitors between November 2013 and March 2014 compared to the same time period one year earlier, Apartment Guide reports. Washington saw an increase of nearly 25 percent.

Both states bested the increase in searches across all other states, which averaged 19.5 percent.

Voters in Colorado and Washington approved referendums in each state to legalize recreational use of marijuana in November 2012. The legal sale of marijuana in both states began Jan. 1.

Source: Apartment Guide, April 14, 2014, available from "Renters Living the High Life in Colorado, Washington"; Internet; Accessed April 21, 2014.

Bill Burchard, Broker, REALTOR®
3B Realty
BRE# 01864774
Bus: 951-347-3818
Email: Bill@My3BRealty.com

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Bill Harvey April 22, 2014 at 01:31 AM
Which probably explains why they are renters and not homeowners.

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