MONTROSE, Colo. (KKCO/KJCT)-- Montrose realtors say the rental market is nearly ‘non-existent’ because more people are moving into the area. Supply simply isn't meeting the demand.
"We do like living in the country and having a little bit of space between the neighbors,” said James Gilbert, who is looking for a new rental home.
James Gilbert has been living in a rental off Highway 550 in Montrose for the past seven years.
"They just raised it a couple years ago from $600 to $700 but rents I have been looking at, the rent its really high now, I mean, two bedrooms are going for $900,” said Gilbert.
His landlord just sold the house, meaning James has to find a new place to live.
"It means we have to come up with a deposit plus the rent,” said Gilbert.
Money he just doesn’t have.
"I almost don't really want to bother looking because we really don't have the money right now it's so tight,” said Gilbert.
Another thing, he has a dog, which adds to his difficult search.
"I don't know what to do with her. And she does bark at night, or take her back to the animal shelter, that's the last resort and I don't want to do that,” said Gilbert.
However, he isn't the only one.
"The rental market is nearly nonexistent, there's a few apartments out there but if somebody's relocated here or they need to get out of a home its very, very, very difficult,” said Debi Harmon, Board Chair for the Montrose Associate of Realtors.
Which means month rent is at an all-time high.
"Housing markets crazy here we have a lot of relocations from the Front Range and other states, Montrose is a fabulous place to live and very limited inventory,” said Harmon.
James says he will continue to look. He’s working with a realtor and housing assistance.
"So the last resort we will have is to move in with my brother,” said Gilbert.