DENVER (KDVR) — Denver’s minimum wage is rising in January and will once more be near the top of the nation’s.
“The City and County of Denver’s local minimum wage will increase one dollar per hour to $18.29 from $17.29 beginning on January 1, 2024,” according to a release. “The minimum wage for tipped food and beverage workers will be $15.27 per hour provided they earn at least $3.02 in actual tips.”
The raise comes from a statute passed in 2019 that ties the city’s minimum wage to Denver’s cost of living as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers.
This year, Denver has had the nation’s second-highest minimum wage. Only Seattle has a higher one, with a minimum wage of $18.69 per hour.
Not all cities have their own minimum wages. Most abide by the state-mandated minimum wage, which in Colorado is $13.65, again one of the nation’s highest. Minimum wages are highest in places with the highest costs of living, such as Seattle, Denver, Washington, D.C., San Francisco and San Diego.
At $18.29 per hour, a full-time minimum wage earner in Denver will gross $37,311.60 per year, which is above the federal poverty line for a family of five. It does, however, meet the threshold for “extremely low income,” according to U.S. Department of Housing and Urban Development guidelines.