If Denver were a person, its confidence would be about as high as its Mile High nickname suggests right about now. Across the country, it seems as though Everybody Loves Denver.
Denver has experienced steady growth over the past decade and currently sits as one of the country’s fastest-growing cities, but that doesn’t mean it is not without its issues.
While the majority of people who move to Denver do so from other places within Colorado, there are still plenty of people who are moving from other big cities in the United States. These people are likely attracted to Denver’s relatively low home prices, which may not seem so low to anyone who has lived in Denver for a while and are causing many long-term residents to be priced out of the area and search for housing in the surrounding counties, Zillow reports.
Chicago, Los Angeles, and Phoenix represented the cities outside of Colorado where the majority of Denver’s new residents came from, which helps to shed a little bit of light onto why, despite the large home value increases, many of these transplants still find the housing market to be affordable.
As far as age groups are concerned, Denver attracts both young and old. From 2010 to 2014, people aged 18-34 have increased their share of the population growth by 9 percent while people over the age of 65 have increased their share by 12 percent.
As its popularity continues to grow, it will likely become very difficult for Denver to keep “affordability” on its list of attractions, but that doesn’t mean it needs to follow the same trajectory of cities that experienced similar growth, such as San Francisco.