Renting an off-campus house has never been easier. Or cheaper.

For students trying to rent a house around the university, the time is now. Rent is at its lowest in several years and there are many options available. Students no longer have to compete for the best deal.

In order to realize this phenomenon, one merely has to drive down High Street or neighboring thoroughfares to see the significant amount of property still for rent. Even halfway through the first quarter there are still plentiful off-campus options available.

Renters are no longer “banging on the doors like they used to,” says Denver landlord Sandy Leik. No, the houses are not depreciating at an extremely fast rate. The neighborhood has not gone “downhill.” It is just not a good time for trying to rent out a house.

Following the trend in the Denver Metro area and Westminster, the rental housing market around the university has become increasingly hard to fill.

For the last few years, the market for rental property has dropped significantly, mirroring the slow economy.

Also, recent low interest rates have made it easier for those who normally rent to buy a house. As a result, the renters around the University have lowered the rent prices to the lowest level in several years.

For example, it is not uncommon to find a four-bedroom house renting around $1,000 a month. For students such deals are amazing, but for owners it’s a different story.

“The market is flooded [with rental properties],” says High Street home owner Leik. “It will just take a little bit longer [to rent].”

Perhaps one reason for the lack of demand is the prevalence of on-campus housing. When asked why they had chosen to live in on-campus housing, Nelson students had several responses.

“[Off-campus housing options] are so far away from your classes,” said on-campus resident Vanessa Brown.

“The houses seem pretty shanty,” said Lainee Marz, resident of Nelson Hall.

Several other students noted the plethora of housing grants in their scholarship package when living on campus, as well as the mandatory two-year on-campus living requirement. Others cited the lack of community connection when separated from the campus.

For students, this is an extremely opportune time to move into an off-campus house, but the landlords aren’t faring so well.