The surge in Denver's economy has resulted in a scarcity of both workforce and housing.
Denver, Colorado, has experienced significant growth due to the influx of skilled professionals and businesses attracted to the state's sunny climate.
The city's mayor, Mike Johnston, stated that there is both a local aspect of creation and a strong attraction of individuals seeking a high quality of life in a city. In his opinion, no place fulfills as many requirements as Denver does.
Despite a 20% population increase in Denver from 2010 to 2020, the city is currently grappling with both housing and labor shortages. Denver's workforce is in dire need of additional workers to fill open positions, but the city is already short 70,000 homes.
The city's concerns include affordability, with the median household income at $87,619 in 2022, which is 15% of the average home price in Denver, according to Zillow.
According to Scott Wasserman, president of the Bell Policy Institute, the influx of companies to Denver raises complex infrastructure and investment questions.
Business News
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