Why People Are Moving to Denver
Balancing the demands of work with the benefits of a good life is an important aspect of living anywhere. In Denver, the work-life balance is more obtainable than in any other major city in America. Whether one is climbing a majestic mountain or the corporate ladder, Denver is the place to be. The city has grown by almost 20% in the last two decades by attracting talented individuals and businesses looking to tap into a highly skilled workforce.
Health is an essential aspect of the local culture. Colorado has the lowest obesity rates in America, and the state attracts active individuals who are eager to live a fuller life. Regardless of whether one is moving back home or is moving to Denver for the first time, the factors behind this decision are job opportunities, an active lifestyle, and a healthy environment. This environment makes Denver one of the most desirable locations in America to live.
Among the 50 States, Colorado comes in first place for labor supply, creating an appealing business climate for companies wishing to relocate or start new ventures. According to the US census, it has the second most highly educated population in the United States. Colorado also has national research facilities, well-renowned universities, and liberal laws which attracts a disproportional share of the nation’s millennials, a demographic that already make up a large percentage of the workforce here.
The average age of someone moving to the Denver metro area is 34. Within the next decade, millennials will have the most purchasing power out of any generation. According to a Mintel study, this generation will not only have the most considerable purchasing power but will also dominate the workforce within the next ten years. This trend will further create a culture of people who are conscious about the environment, concerned about work conditions and sensitive to ethical values. These values put Denver on the forefront of energy saving innovations, responsible operation practices, and accountability. All of this bodes well for Denver continuing to be a livable city in the future.
This prospect is having a positive impact on the real estate market and creating a virtuous circle. Because the real-estate market is appreciating year after year, Denver is continuously expanding. Among major cities, Denver has more undeveloped real estate than any other city its size or bigger.
New construction is generating improvements to the transportation system as well as the infrastructure, which is encouraging employment. By 2020 Colorado civic leaders have pledged to allocate $300 million towards transportation. Because of the stable growth at 1.5% avg increase in home prices, investors are confident that the Denver real estate market is a safe place to invest.
It is a city that will accommodate and welcome all as it has been doing so for decades and will continue to grow and thrive for many more to come.
Census (2018), www.census.gov
Mintel, marketing to millennias US June 2018, www.mintel.com
DPS (2018), www.dpscareerconnect.org
Denver Business Journal (2019), Colorado House transportation, www.bizjournals.com,