Industry Insight

Colorado see's more migration than any other state.

Homendo Editorial Team
December 8, 2016 • Forensic Industry Report
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Moving vans and cars with license plates from other states are everywhere, and that isn’t a fluke. Colorado is full of people on the move into, out of and within our fine state. More than one in 10 Colorado households that filed a tax return in 2015 lived in another county or state the year before. That’s more than in any other state. Nationally, 6.1 percent of 2015 tax returns listed an address in a different county or state the year before, according to tax return data from the Internal Revenue Service. If Colorado is a migration destination, then Denver serves as its Ellis Island like equivalent, claiming nearly one in five of the households making a major move within or to the state. “Denver is a gateway. People know the name Denver or Boulder. They don’t know the name Aurora, Centennial or Littleton,” state demographer Elizabeth Garner said. Among other highlights gleaned from the returns: • The entire metro area, including Boulder, claimed nearly two-thirds of households moving to or relocating across county lines within Colorado. •About 54 percent of people on the move were Colorado residents who crossed county lines, while 46 percent were out-of-staters. • Former Californians filed the most Colorado tax returns, followed by people from Texas, Florida, Illinois and Arizona. • Migration is an ebb and flow. Texas was the top destination for those leaving Colorado, followed by California, Florida, Arizona and Washington. • After netting things out, Illinois lost the most households to Colorado, followed by California and New York, according to the tax returns. After formally being the number one destination city in the United States for Millennials, Denver has now slipped to 8th on the list according to recent research data compiled by Niche and presented by Business Insider. Cambridge Massachusetts takes out top spot followed by Arlington and Alexandria both of Virginia. But if you're thinking that this will see a softening of our local market here in Denver think again, there is still a long way ahead until current levels of inventory matches demand along with evidence pointing to other demographics fueling the current levels of new residents seeking to make Colorado and particularly Denver their home.
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