Denver Residents Leaving for Another City
The cost of living in Denver has risen to a point that residents there are searching for another place to live. According to Redfin, Denver ranks in the top 10 nationally in "net outflow", which calculates the number of people actively searching for homes in another metro. What is driving this search is the cost of homes in the Denver metro which has increased over 9% year after year to an average of almost $450,000.
The city they are looking at the most? Chicago. The average cost of a home there is $291,000. But, let's face it, Chicago isn't making headlines because of their great real estate costs. That city is riddled with high crime and homicide numbers that few cities can compare. While Denver has its share of problems, they can't come close to what Chicago is going through.
While working at Southwest Airlines, the most dominant topic of conversation was finding a place to live at a reasonable cost. On a modest income, rentals are out of range much less buying. Looking for another place where you can get more bang for the buck is absolutely understandable and expected, but I would never have picked Chicago as the better alternative.
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