Denver, CO

Retirees aren’t staying in Denver, new report shows

Inna D

Retirement is a huge milestone, representing years of hard work and the beginning of a new chapter. It’s a time when people can embrace the freedom to pursue personal passions, spend quality time with loved ones, and indulge in long-awaited adventures. Many decide on a final place to call “home” to live out the rest of their lives where they feel comfortable, and it seems that place isn’t Denver.

According to a report from the U.S. Money Reserve, where they analyzed Census Bureau data, only 32% of 65+ year olds moved into their homes over 30 years ago. Also, Denver seniors (aged 65+) account for 13.8% of the population.

For comparison, seniors that have been in their homes the longest are located in the Northeast, with Pittsburgh, PA topping the charts with over 56% of retirees moving in at least 30 years ago.

Colorado boasts beautiful scenery, great hospitals, and activities. However, there are many cons for seniors to retire in Denver as well. Some neighborhoods are changing with many young adults moving to Denver and housing changes (such as higher property tax) means some retirees are choosing to move. Rising crime levels or issues with transportation may make it difficult for seniors to navigate the city.

According to a Smart Asset report looking at U.S. Census Bureau migration data aged 60+, Colorado lost over 5,249 seniors who left the state in 2021. Many are choosing to move to sunnier states like Florida or Arizona. But not California, which topped the list for most retirees moving out at 71,828 in 2021.

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