Disclaimer: I am Denver’s No. 1 biggest fan. Having lived here since 2000, I feel pretty qualified to back that up: the weather is amazing, the people are attractive and nice, there’s sports/music/comedy basically every night of the week, there’s great outdoor recreation, beer is basically a food group here, and there’s legal marijuana.
Can this place get better? Is that even possible?! I was asking rhetorically—I’ll answer those questions myself. Yes, yes, and a resounding yes.
Sure, real estate is currently pricy in Denver. But for all of the reasons above—and a ton more—it’s still totally worth investing in Denver. Below, I make my case.
Why Denver Is Still a Worthwhile Real Estate Market
1. Meow Wolf
I have a theory. It’s called my Orange Theory theory (previously my Starbucks “glamour coffee” theory). It’s that you don’t need to research markets; you just need to pay attention to which markets expensive businesses are expanding into and follow them.
And guess what? Denver’s Meow Wolf (opening in 2021) is charging $1,000 a person for their grand opening. (1) So, I’d say they think this is a pretty good market.
2. Tech, tech, tech
According to The Denver Post, the city’s experiencing a “Californication” of sorts. (2) Tech companies might be ruining the world/democracy, but that doesn’t mean they don’t have a lot of money. Fifty-eight major tech companies have set up satellite offices outside of San Fran, and more than 33 percent of those are located in Denver (which doesn’t even account for the ones in Boulder and Colorado Springs). That’s a really big deal, both for residential and commercial prices in Denver.
3. Recession safe haven
According to Redfin, Denver has the lowest overall risk of a recession of any city west of the Mississippi and is ranked 12th overall for lowest risk in the United States. (3) Obviously, we know a recession can still happen, but if it’s anything like 2008, we will bounce back to 100 percent in 6 years and 127 percent in 10 years of pre-recession values. Both our state and our city are seen as good places to be in a recession. (4)
Seriously, to know Denver is to love Denver. And when I meet nativists who are rolling their eyes about the traffic or the Californians or the Texans (the Texans actually do deserve the complaints though), I say living in a city that everyone wants to be in is the most flattering thing in the world—and I mean it.
What do you think about Denver? What other cities in America do you predict will be relatively unscathed by a recession?
Weigh in with a comment below.