New studies rank Denver as a top city for relocating and one of the best state capitals. They also show why the metro’s inbound migration rebounded after dropping in 2022.
Desirable despite housing costs
If money didn’t matter, Denver ranked second on a new list of the country’s most desirable cities.
According to a moving trends survey of 1,000 Americans by Anytime Estimate, a website that offers real estate calculators and tools to help buyers and sellers, Nashville topped the list, with 24% of respondents indicating it as their ideal relocation choice.
Denver followed closely, securing 23%, while Las Vegas, San Diego, and Los Angeles rounded out the top five with 21%, 20%, and 19%, respectively.
The top states in the survey were Florida, Hawaii, California, Colorado and Texas.
Denver 8th best capital city
A report from WalletHub, a personal finance website, ranks Denver as the 8th best state capital.
The study compared all 50 state capitals based on 48 key metrics, including the cost of living, the quality of K-12 school systems, and the number of attractions available.
Denver ranked for median household income, adults with a bachelor’s degree or higher, and millennial newcomers. However, Denver lost points for housing costs and ranked 48th for least affordable housing, following only Boston and Honolulu.
- 1st – % of millennial newcomers
- 1st (tie) – attractions
- 3rd — restaurants per capita
- 5th – % of adults with a bachelor’s degree or higher
- 7th – median household income (adjusted for cost of living)
- 8th – % of state, local, and federal government employees
- 10th – K–12 school-system quality
- 11th – % of the population in poverty
- 21st – health conditions
Colorado ranks 8th for attracting and retaining residents
Colorado regained its groove in 2023 after losing nearly 7,000 residents through domestic migration.
According to a study from StorageCafe, the state recorded a net inbound migration of 31,000 people in 2023.
Colorado, the sixth most expensive state to buy a home, is the only state in the top 10 where newcomers pay more for housing than they did in their original state.
According to the report, Colorado attracts millennials, who make up 35% of the newcomers. The state emerged as a remote work powerhouse, with 27% of incoming residents working remotely.
Despite its higher home prices, 35% of newcomers became homeowners within the first year.
Who’s moving in? Newcomers arrive from Texas, California, Florida, Arizona and North Carolina.
The news and editorial staffs of The Denver Post had no role in this post’s preparation.