Denver, also known as Centennial, is a large city in Colorado with a population of over 693,000. In recent years, Denver has seen an influx of luxury housing and commercial real estate, making it difficult to determine the average household income.
This increased real estate demand has created more barriers for new residents to gain access to property and market prices. With extremely high costs of living and limited affordable housing options for very wealthy people who can afford it, this can be problematic.
This article will talk about some of the reasons why Denver is expensive and how you can fix it.
Contents:
Geography
Not the greatest things in the world, is geography? We’ll talk a little bit about that later.
Now, come on down to Denver. Can you imagine how difficult that would be? No lie, it would be really hard.
The thing is, if you could imagine what Denver would look like without mountains or rivers or any kind of recognizable geographical features, you’d probably think it was a pretty good place to live.
But when you think about how beautiful and natural it is, and how rare that is in the United States, it does something to your mind. It makes you want to come here for its sake.
Another thing: When people say Denver is expensive, they are not just saying money– but something else! They are saying quality! People say things like “This wine tastes expensive,” but they do not mean it costs THAT much.
Economy
The word economy doesn’t often appear in the descriptions of the top 10 most expensive places in the world, but that is probably because economy isn’t what you’re looking for when searching for the most expensive places in the world.
When you think of an economy place, you picture a small town with low overhead and fewer complex systems, which means you would be more likely to pay attention to individual actions and results than a health care provider or pharmaceutical company.
However, this may be what people are looking for when they seek out an expensive vacation location. Someone who is tightly focused on their personal needs and wants something concrete that they can handle.
In order for someone to gain control over something as abstract as health and wellness, they must be willing to spend money. It may not be what people are looking for, but it seems like someone who spends money is happy.
Population growth
As mentioned earlier, the cost of living in Denver is higher than the average city. This is mainly due to high property and business taxes, expensive groceries, and limited options for shopping or dining without going up a price level.
This can be difficult when other cities offer more for the cost of living. There are several places to purchase goods and services, and even food has options for quality and quantity.
However, many of them are out-of-state companies that offer very little support or involvement from local staff. This can be frustrating when you need it, like when you have to buy a food item but want something better quality in your meal.
Another issue that arises is limited choices for dining or shopping.
Lack of inventory
As mentioned earlier, bullet point is a common thread in many of the reasons why Denver is expensive. All of the abovementioned factors contribute to this high cost of living in Denver, making it difficult for small businesses to attract and thrive in the city.
Additionally, as more people move into the city and need housing, the cost of living increases even more due to increased demand for housing. This has been known as the “gut-wrenhing” effect.
When a company can’t afford to open a business in Denver, most move their business out-of-town instead. This severely affects a business’ ability to recruit and retain qualified employees which greatly impacts their worth on my chart.
If you are looking to expand your reach within Colorado or around the country, consider moving to Boulder or Fort Collins instead.
Demanding lifestyle
As a society, we value our lives to be very unique and special. We want to be remembered for what we did and how we lived!
We also demand of ourselves how we live. As a society, we are very perfectionist and require extraordinary lifestyle’s from others to approve of us.
This is a good thing! We need confidence to get really excited about this stuff and to find people who understand it. It’s hard to find true confidence in ourselves, so this adds some much-needed value-added feeling of perfect self-confidence.
But there are some things that we can only have because so many people have never had this thing and they don’t approve of it! There are people in the world who struggle with money and lifestyle’s and there are needs that need to be met by individuals, groups, etc.. This is the true definition of an ‘extravagant’ or ‘elitist’ person.
Commute time
Your commute time is a large part of how expensive Denver is. There are a lot of big problems with our economy that require attention, but not every politician in town knows how to fix our economy!
When companies locate or expand their company in Denver, they have to look at two things: housing costs and commute time. If you live in the suburbs and want to move to downtown or the hills, you will need to pay for housing and transportation costs before you can make that decision.
If you are someone who needs a car or just likes having a quick commute, then living in the suburbs is not an option. The cost of living is twice as high in the metro area as it is in the suburbs, due to higher transportation costs and housing prices.
Climate change
As the world continues to change due to human activities, Denver is a good example of how expensive it can be for people of all income levels to live and/or invest in.
How important is climate change? According to the U.S. Department of Energy, a 0.1°C increase in temperature is considered acceptable, Moderately priced buildings are ideal for those who want a complete privacy experience or who need more space.
Denver has some pretty expensive real estate, and newer buildings aren’t always built with future climate control in mind. With room pricing at or above $700 per night in many places, future generations will have to deal with difficult climate control challenges like hot summer days and cold winter nights.
Cost of land
Most people know that land is expensive in the United States. This is due to the restricted availability of land and building costs over the last few decades.
However, most don’t know why this is or how much it costs. The answer can change based on where you live, though.
qualify for higher grants and loans than normal. As a result, certain groups of people have access to more land than others. It’s like applying for a loan with higher points than you normally would without the grant or loan being easier to obtain than it normally would be without such a large cost attached.