Denver, Colorado, has experienced remarkable growth in recent years, attracting a large number of skilled professionals and businesses due to its 300 days of sunshine and unique combination of a homegrown creative community and a desirable quality of life. Mayor Mike Johnston believes that Denver offers the perfect blend of these factors, which have made it an attractive destination for people from all over.
Between 2010 and 2020, Denver’s population grew by nearly 20%, leading to challenges in housing and labor shortages. The city is currently facing a shortage of 70,000 homes and needs more workers to fill job openings. Additionally, affordability is a significant concern with a median household income of $87,619 at the end of 2022, which is only about 15% of the average home price in Denver.
The rapid growth of companies moving to Denver raises questions about infrastructure and investment according to Scott Wasserman, President of Bell Policy Institute. As the city continues to grow and attract more residents and businesses, it will need to find solutions to address these challenges and ensure sustainable development for the future.