Colorado is a fast-growing state, especially when it comes to its largest cities. According to WalletHub’s new report, Denver is one of the fastest growing cities in the country this year.
The Washington, D.C. based website compared over 500 cities dividing them into three categories: large cities (with a population more than 300,000 people), mid-sized cities (with 100,000 to 300,000 residents) and small cities (with a population fewer than 100,000 people).
The metrics used to assign ranks can be divided into two main categories:
– Sociodemographics, that includes population growth, as well as college-educated population growth and working-age population growth.
– Jobs and economy, that includes unemployment and poverty rate decrease, household income growth, job growth, growth in regional GDP per capita, increase in the ratio of part-time and full-time jobs, increase in a number of startups and businesses, median house price growth, foreclosure rate decrease and increase in venture capital investment.
Denver has ranked fourth among large cities, followed by another Colorado city, Aurora, that has come in fifth.