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Best Places to Live in Colorado in 2023
By noel MONEY RESEARCH COLLECTIVE
Colorado is a beautiful state in the western United States, known for its stunning natural landscapes, outdoor recreation and thriving economy. It is a popular destination for people looking to relocate or retire to a place with a high quality of life, excellent healthcare facilities and top-notch educational opportunities.
This article has compiled a list of Colorado’s five best places to live in 2023. We’ve based our selection on various factors, including population, median household income, median home price and unemployment rate.
Read on to learn more about these top-rated Colorado destinations.
Denver
Located in the heart of the Rocky Mountains, Denver is the capital of Colorado and a vibrant city with a lot to offer. With a population of over 750,000, Denver is the largest city in the state and a major economic and cultural hub. The city has a diverse economy with strong industries in areas such as technology, healthcare and tourism.
You’ll find a thriving arts and culture scene in Denver, including the Denver Art Museum and the Denver Center for the Performing Arts. Denver is also home to numerous museums, galleries and theaters.
Additionally, Denver hosts several annual events and festivals, such as the Great American Beer Festival, the Colorado Dragon Boat Festival and the Denver PrideFest. These events attract visitors from all over the world and offer a chance to experience the city’s unique culture and traditions.
Denver also has a strong education system, with several highly-ranked universities and colleges in the area, including the University of Colorado Denver, Metropolitan State University of Denver and Regis University. The city also has several major hospitals and medical centers, making it a hub for healthcare and medical research.
One unique feature of Denver is its proximity to the Rocky Mountains, which are just a short drive away from the city. The mountains offer a wide range of outdoor activities, such as hiking, skiing and camping, making Denver an ideal destination for outdoor enthusiasts.
The median household income in Denver is $78,177 and the median home price is $556,332. The unemployment rate is currently at 2.9%.
Boulder
Boulder, located at the foothills of the Rocky Mountains, is a small town known for its natural beauty, outdoor recreation opportunities and top-notch universities. With just over 110,000 residents, Boulder has a laid-back, college-town vibe. It is also one of the healthiest places to live in the U.S., with numerous parks, trails and open spaces. Boulder is a smaller city with a thriving economy and a robust technology industry.
The city has implemented numerous green initiatives, including a comprehensive bike-sharing program, a zero-waste program and an energy program to generate 100% of the city’s electricity from renewable sources by 2030.
Boulder also has a thriving food scene, focusing on farm-to-table cuisine and locally sourced ingredients. The city’s farmers’ markets and community-supported agriculture programs make it easy for residents to access fresh, locally-grown produce.
In addition to the University of Colorado, Boulder is also home to a number of other top-notch universities and research institutions, including the National Center for Atmospheric Research and the National Institute of Standards and Technology. This concentration of research institutions has helped foster a culture of innovation and entrepreneurship in the city, with numerous startup companies and tech firms calling Boulder home.
The median household income in Boulder is $74,902, and the median home price is $974,274. The unemployment rate is currently at 2.5%.
Fort Collins
Located about an hour north of Denver, Fort Collins is a college town known for its friendly community, beautiful parks and excellent breweries. With a population of around 177,000, Fort Collins is the fourth-largest city in Colorado and has a diverse economy with solid industries in areas such as agriculture, manufacturing and technology.
Fort Collins is also known for its vibrant music scene, with numerous live music venues and festivals taking place throughout the year. The city hosts the Bohemian Nights at NewWestFest, an annual music festival that features local and national acts across multiple stages.
Fort Collins is also bike-friendly, with over 280 miles of designated bike lanes and trails, making it easy for residents and visitors to get around without a car. The city is also strongly committed to sustainability, with programs and initiatives to reduce waste and promote renewable energy.
Fort Collins has several museums for those interested in history, including the Fort Collins Museum of Discovery and the Avery House Historic District. The city also has a charming downtown area with plenty of shops, restaurants and cafes to explore.
The median household income in Fort Collins is $72,932, and the median home price is $540,015. The unemployment rate is currently at 2.7%.
Colorado Springs
Located at the foot of Pikes Peak, Colorado Springs is a picturesque city with a robust military presence and a thriving tourism industry. With a population of around 497,000, Colorado Springs is the second-largest city in the state of Colorado and has a diverse economy with solid businesses in areas such as defense, healthcare and tourism.
Colorado Springs is home to several military installations that contribute significantly to the city’s economy and provide many job opportunities.
In Colorado Springs, you’ll find a variety of attractions, including the Garden of the Gods, the United States Air Force Academy and Pikes Peak. The city also has a thriving arts and culture scene, with many galleries, museums and theaters to explore.
The city is surrounded by mountains, making it a prime destination for hiking, rock climbing and mountain biking. It is also home to several popular ski resorts, including Breckenridge and Keystone.
Colorado Springs has a strong education system, with several reputable universities and colleges, including the University of Colorado Colorado Springs and Colorado College. The city’s downtown area is a vibrant cultural hub with numerous art galleries, theaters and music venues.
The median household income in Colorado Springs is $71,957, and the median home price is $441,691. The unemployment rate is currently at 3.2%.
Aspen
Located in the heart of the Rocky Mountains, Aspen is a world-renowned ski resort town known for its luxury resorts, high-end shopping and excellent dining. Aspen may be a small town — it has a population of around 7,000 — but it has a robust tourism industry that supports a variety of businesses.
Aspen is a playground for those with lots of purchasing power, with top-rated ski resorts like Aspen Mountain, Snowmass and Buttermilk. The town also has a vibrant arts and culture scene, with numerous galleries, museums and festivals.
In addition to skiing and snowboarding, Aspen offers a range of outdoor activities throughout the year, including hiking, mountain biking, fly fishing and golfing. The Maroon Bells, a set of two peaks in the Elk Mountains, are a popular hiking destination and offer breathtaking views of the surrounding landscape.
Aspen is also known for its culinary scene, with many award-winning restaurants and celebrity chefs. The town hosts several food and wine festivals, including the annual Aspen Food and Wine Classic, which draws foodies and wine connoisseurs from around the world.
Additionally, Aspen is home to a number of nonprofit organizations focused on conservation, education and community development.
The median household income in Aspen is $89,625, and the median home price is $2,925,148. The unemployment rate is currently at 2.9%
Methodology
To determine the best places to live in Colorado, we looked at various factors, including population, median household income, median home price and unemployment rate. We also considered other factors such as quality of life, access to amenities and overall affordability. Furthermore, we consulted extensive sources, including government data, industry reports and expert opinions.
We also considered each city’s natural beauty and outdoor recreational opportunities, as Colorado is known for its stunning landscapes and outdoor activities. We evaluated the proximity and accessibility of parks, trails and other outdoor recreation areas and the availability of local events and activities that celebrate Colorado’s unique culture.
Overall, our methodology aimed to provide a comprehensive picture of Colorado’s best places to live, considering a wide range of factors that contribute to a high quality of life.
FAQs
The bottom line
Colorado is a state that offers a unique blend of urban and outdoor living. The state’s economy is diverse, with strong industries in areas such as technology, healthcare, agriculture, manufacturing and tourism. Colorado’s scenic beauty is unparalleled, with stunning mountain ranges, vast plains and abundant wildlife.
Moreover, Colorado has implemented initiatives like the Colorado Clean Energy Plan, which aims to transition the state to 100% renewable energy by 2040. Additionally, Colorado has many outdoor recreation opportunities, including world-class skiing, hiking and biking trails, contributing to the state’s emphasis on health and wellness.
Colorado is a great place to live, work and play. With a variety of communities to choose from and a range of opportunities to explore, Colorado is an excellent choice for those looking to start a new chapter in their lives.
