The city of Denver, Colorado has seen significant growth in recent years, with an influx of skilled professionals and businesses attracted to the state known for its 300 days of sunshine. Mayor Mike Johnston highlights the appeal of Denver as a city that offers both a homegrown sense of creativity and a magnet effect for those seeking a high quality of life.
Between 2010 and 2020, Denver’s population increased by nearly 20%, leading to housing and labor shortages. The city is currently in need of more workers to fill job openings, but is already facing a shortage of 70,000 homes. Affordability is a major concern for residents, as the median household income in Denver was $87,619 at the end of 2022, only covering about 15% of the price of an average home in the city.
As more companies move to Denver, concerns arise regarding infrastructure and investments. Scott Wasserman, president of the Bell Policy Institute, notes the complex challenges that come with the city’s growth and the need for strategic planning to support economic mobility in Colorado.