Unstoppable Demographics Drive Housing Demand in Colorado
by Osman Parvez
Cranes dot the city and construction vehicles are everywhere in Boulder these days. What’s going on?
Colorado is experiencing a development boom. Here’s why.
The population of Colorado has been growing steadily, even during economic recessions. The chart above shows a combination of historic census estimates and the latest projections from the State Demography Office.
During the next ten years, Colorado is expected to add nearly a million people – about 20% more than today.
Here in Boulder County, population growth is more modest. The population is expected to grow a little over 11% during the next decade or 35,000 people.
That’s a lot of new people living in a region which is currently experiencing ultra low inventory and an inventory shortage. Of course, conditions a decade from now will be very different but one thing seems certain. Lots of new development.
Unstoppable?
It would take a Black Swan event to shift the migration of Cultural Creatives to Colorado. Our exceptional weather, healthy economy, and vibrant population are deeply appealing. And that’s just scratching the surface of why people choose to live here.
Announcement
Mark your calendar. Let’s Meetup. The next Boulder Real Estate Meetup will be held on Wednesday, February 22nd. Our topic this month will be analyzing development in Boulder. Hope to see you there!
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Unstoppable Demographics Drive Housing Demand in Colorado
by Osman Parvez
Cranes dot the city and construction vehicles are everywhere in Boulder these days. What’s going on?
Colorado is experiencing a development boom. Here’s why.
The population of Colorado has been growing steadily, even during economic recessions. The chart above shows a combination of historic census estimates and the latest projections from the State Demography Office.
During the next ten years, Colorado is expected to add nearly a million people – about 20% more than today.
Here in Boulder County, population growth is more modest. The population is expected to grow a little over 11% during the next decade or 35,000 people.
That’s a lot of new people living in a region which is currently experiencing ultra low inventory and an inventory shortage. Of course, conditions a decade from now will be very different but one thing seems certain. Lots of new development.
Unstoppable?
It would take a Black Swan event to shift the migration of Cultural Creatives to Colorado. Our exceptional weather, healthy economy, and vibrant population are deeply appealing. And that’s just scratching the surface of why people choose to live here.
Announcement
Mark your calendar. Let’s Meetup. The next Boulder Real Estate Meetup will be held on Wednesday, February 22nd. Our topic this month will be analyzing development in Boulder. Hope to see you there!
—
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More about the author
Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.
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