Boulder, Denver among most expensive places to live in US

Posted: Oct 19, 2023 / 11:34 AM MDT

Updated: Oct 19, 2023 / 11:34 AM MDT

DENVER (KDVR) — It has been talked about time and time again how expensive it is to live in Colorado. Two local cities made the U.S. News and World Report’s list of the most expensive places to live in the U.S.

Buying a house in Colorado isn’t cheap. According to Redfin, you would need to make a six-figure annual income to afford a median-priced home, which costs around $580,000.

But how expensive is Colorado compared to the rest of the country?

According to U.S. News and World Report, Denver and Boulder are among the top 25 most expensive cities in the entire country. It should also be noted that of the top 25 priciest cities, Denver and Boulder are the only cities in a non-coastal state that made the list.

Denver was ranked 16th, while Boulder was ranked 23rd.

So, what makes this landlocked state so enticing for homebuyers? The Data Desk has investigated this topic extensively.

Colorado is one of the most educated states in the U.S. According to the Metro Denver Economic Development Corporation, as of April 2023 almost 43% of residents have a bachelor’s degree or higher. That highly educated workforce also has one of the highest concentrations of degrees with high earning potential – science, engineering and business.

The Centennial State’s population has also been growing over the past decade. With more people moving to Colorado, the cost of living has increased causing a hike in housing costs.