Report: Colorado gains millennials, loses older residents

“While many states saw overall population gains, Colorado’s outbound migration slightly outpaced inbound,” the report stated.

Overall, Colorado was the ninth least popular state to move to in the past year.

This is a concerning trend for the state which, as recently as 2018, was the sixth most popular state to move to in the U.S.

In the past year, 102,498 adults moved to or from Colorado. Including moves within state lines, 449,886 adults relocated to or within Colorado.

“Nearly one in four moves (22.78%) came from out of state,” the study said, “Showing that Colorado still attracts newcomers despite rising housing costs.”

Migration between Texas and Colorado remains steady, as it has in past years. This time around, Texas topped the list of states sending new residents to Colorado. It accounted for 13.51% of all inbound moves to Colorado.

Texas was followed by California at 11.67%, Florida at 7.75%, Arizona at 5.58% and Illinois at 3.37%.

“Together, these five states accounted for nearly half of all out-of-state moves to Colorado, underscoring the state’s continued draw for residents relocating from major Sun Belt and Midwestern regions,” the study said.

Conversely, outbound Coloradans are moving to Texas. In fact, 10.82% of all people leaving Colorado move to the Lone Star State, which tops the list as the most popular state for Coloradans leaving the Mile High State.

Florida, California, and Arizona were other popular destinations.

“When Coloradans leave, they’re often chasing affordability, sunshine, and opportunity,” the study said.

There are some significant generational and income trends that can be pulled out of the migration data for Colorado.

As previously reported by The Center Square, millennials are flocking to Colorado in record numbers. The inbound millennials coming to Colorado tend to be high income earners, in contrast to those leaving the state.

This more recent study found that millennials make up 42.63% of new residents in Colorado. Conversely, Gen Xers and Baby Boomers are more likely to be leaving the state.

“This generational shift is compounded by an economic one,” the study said. “Inbound residents skew wealthier, suggesting that rising housing and living costs may be pushing middle-income residents elsewhere even as higher earners continue to relocate to Colorado.”

When comparing net population gains versus losses, the majority of newcomers to Colorado earn between $101,000 and $200,000, while the majority of people leaving earn between $51,000 and $100,000 annually.