Millennials are flocking to Colorado, according to a recent report that looked at migration rates nationwide.
In 2024, nearly one in every 10 millennials in the U.S. moved. Colorado led in that age group, with an influx of millennials at +34.8%. Connecticut saw the steepest decline at -64.8%.
This is according to a study conducted by Hire a Helper, which looked at 2024 U.S. Census and moving data. The percentage was determined by comparing the millennial share of movers compared to the number of the general population that moved to the state. That means that, of those moving to Colorado, millennials made up the largest percentage when compared to other states.
While Colorado had the highest migration rate overall, the type of millennials moving to the state also stood out in the study.
“The thing that stood out most to me about Colorado was the influx of wealthy millennials coming to the state,” Melanie Morris, the study’s lead researcher and author, told The Center Square in an exclusive interview. “While Colorado saw the highest migration rate of millennials overall, it also had the fifth-highest increase in high-income millennials, as well as the second-highest increase in middle-income millennials. That speaks volumes about the state’s appeal to the generation shaping workforce and housing market.”
As for cities attracting millennials, the Denver-Aurora-Lakewood area made the list of cities with millennials moving to them at a higher rate compared to other generations.
Morris said there’s many reasons that millennials are choosing Colorado.
“Colorado pairs a strong economy with a lifestyle that millennials value, giving it a rare balance that millennials find especially attractive,” she said. “The state ranked seventh nationally for job growth last year, which gives young professionals career opportunities they might not otherwise have. Additionally, we can’t forget about Colorado’s outdoor amenities and quality of life, which makes the state attractive beyond just work.”
Despite ongoing fears about housing in Colorado, as previously reported on by The Center Square, Morris said that was actually another reason millennials chose Colorado.
“Millennials are prioritizing housing, with 16.8% citing new or better housing as their top reason for moving, and Colorado offers a mix of urban and suburban options that appeal to both renters and first-time buyers,” she said.
With millennials making up the largest percentage of the workforce, Morris explained that it is significant where they are choosing to move, especially for the cities and states they are choosing to move to.
“Migration data often shows where economic, housing, and cultural shifts are heading,” Morris said. “The growth we’re seeing in Colorado suggests a long-term demand for housing, higher consumer spending, and a more competitive labor market. Communities and cities that recognize this and plan for these shifts will be best positioned to thrive in the coming years.”
