Why Denver is the Next Economic Powerhouse
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Are you moving from the Temecula area to Colorado? Denver is quickly becoming an economic powerhouse, making it a great place to live. It is located at the foot of the Rocky Mountains and the state of Colorado is proud that they enjoy 300 days of sunshine each year.
It’s easy to see the appeal of the mile-high city. It is vibrant, diverse, and entrepreneurial. Everything shows that it is going to be an economic leader in the United States in the coming years.
Denver, CO is Booming
Between 2010 and 2020, over 1150,000 people moved to Denver, increasing the population from just over 600k to 715,500. That is a 20% increase in the population of the city! The increasing demand has created a challenge with supply and demand in the real estate industry.
Denver is seeing corporate headquarters moving into the area, adding to the economic boom. Not only is Denver on the map for the business activities that are happening, but it is also home to one of the hottest music scenes in the country – making it a great place to live and visit if you are looking for good entertainment.
Why Colorado?
This city is an attractive place to live, especially because there are many job opportunities and outdoor activities. There is plenty of land for the suburban sprawl, but construction teams are working hard to stay ahead of it all. This brings some concerns about commute times and air quality, which is a common issue in many big cities. The question is how to bring more people into the city without sacrificing the overall quality of life.
The average price of a home in Denver is about $580,000, which is up about 65% since January 2016. Luckily, Denver uses sales tax to fund initiatives such as affordable housing, in an effort to help blue-collar workers and service providers (such as teachers) live in the area.
One longer-term solution for affordability could be expanding the public transit system, making it possible for job seekers to live outside of the city and still access their jobs conveniently. There are affordable places to live in Colorado. Bringing the right transportation systems into the area can help with some of the labor shortages that are being faced in the city.
Need Help with Your Upcoming Relocation?
Whether you are thinking about Colorado or any other state for relocation, our real estate team is here to connect you with the services that you need. Reach out to discuss your upcoming move. Call, text, or email me: (951) 473-0390 or [email protected]