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The Denver metro area is getting richer, as are a handful of mountain locales around Colorado. And wealthy transplants appear to be one of the reasons why.
These are among the takeaways from recently released statistics from the U.S. Census Bureau, which show that income has increased substantially across the greater Mile High over the past decade, as well as two recent studies indicating that both the state and the city remain major magnets for people on the upper end of the income scale who are looking to relocate.
According to a study by the SmartAsset website, Colorado is one of the most popular states in the country for big-bucks transplants. Among destinations for individuals on the move with annual incomes of $200,000-plus (a bracket occupied by only about 7 percent of tax filers), Colorado finished seventh in the nation, with a net gain of 2,624 people in this category during 2020, the latest year for which numbers were available.
Meanwhile, the real estate site Redfin slotted Denver in eighth place among major U.S. metros with the largest budgetary disparities of spending power between transplants and locals. As of June, the site had calculated the average maximum budget for home shoppers from Denver at $879,964, compared to $983,761 for out-of-staters moving here, an 11.8 percent difference that adds up to nearly $100,000.
The analyses’ conclusions are amplified by the Census Bureau’s “Quick Facts” stats, which offer just-updated estimates for per capita income and median household income from 2017 to 2021, as rendered in 2021 dollars, for counties all over the U.S., including those in Colorado.
Comparing the latest results to the 2006-2010 list of Colorado’s richest counties reveals that Pitkin County, home of Aspen, retained its top spot on the roster by way of a per capita income of $76,883. But there were plenty of other shifts among the twenty richest counties. Gilpin County, known for the gambling-friendly communities of Central City and Black Hawk, leapt from thirteenth place in 2006-2010 to second by way of a per capita income of $66,627, while tiny Hinsdale County, anchored by Lake City, plummeted from third all the way to eighteenth; its per capita income in 2021 was $39,213.
Meanwhile, every metro county moved up on the list, including Douglas (from fourth to third), Broomfield (from eighth to fourth), Boulder (from sixth to fifth), Denver (from eighteenth to ninth), Jefferson (from eleventh to tenth), and Arapahoe (from fifteenth to thirteenth). And while Adams County finished just outside the top twenty, at 21, it had finished 35th in 2006-2010.
Count down the twenty wealthiest Colorado counties below, as measured by per capita income. Each includes statistics related to median household income, population and the number of households, plus a comparison to its ranking in 2006-2010.
1. Pitkin (first in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $76,883
Median household income in 2021 dollars: $92,708
Population, July 1, 2021: 17,348
Households 2017-2021: 7,202
2. Gilpin (thirteenth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $66,627
Median household income in 2021 dollars: $96,784
Population, July 1, 2021: 5,873
Households 2017-2021: 2,791
3. Douglas (fourth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $57,481
Median household income in 2021 dollars: $127,443
Population, July 1, 2021: 368,990
Households 2017-2021: 127,921
4. Broomfield (eighth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $55,176
Median household income in 2021 dollars: $107,570
Population, July 1, 2021: 75,325
Households 2017-2021: 29,487
5. Boulder (sixth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $52,401
Median household income in 2021 dollars: $92,466
Population, July 1, 2021: 329,543
Households 2017-2021: 131,701
6. Clear Creek (twelfth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $52,364
Median household income in 2021 dollars: $76,313
Population, July 1, 2021: 9,446
Households 2017-2021: 4,427
7. San Miguel (fifth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $51,725
Median household income in 2021 dollars: $70,965
Population, July 1, 2021: 8,074
Households 2017-2021: 3,594
8. Routt (fourteenth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $50,971
Median household income in 2021 dollars: $83,725
Population, July 1, 2021: 25,091
Households 2017-2021: 10,094
9. Denver (eighteenth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $50,642
Median household income in 2021 dollars: $78,177
Population, July 1, 2021: 711,463
Households 2017-2021: 313,926
10. Jefferson (eleventh in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $49,213
Median household income in 2021 dollars: $93,933
Population, July 1, 2021: 579,581
Households 2017-2021: 236,499
11. Eagle (seventh in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $49,010
Median household income in 2021 dollars: $91,338
Population, July 1, 2021: 55,727
Households 2017-2021: 19,511
12. Summit (ninth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $48,488
Median household income in 2021 dollars: $93,505
Population, July 1, 2021: 30,941
Households 2017-2021: 11,329
13. Arapahoe (fifteenth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $45,046
Median household income in 2021 dollars: $84,947
Population, July 1, 2021: 654,900
Households 2017-2021: 247,251
14. Larimer (twentieth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $42,946
Median household income in 2021 dollars: $80,664
Population, July 1, 2021: 362,533
Households 2017-2021: 145,175
15. San Juan (seventeenth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $40,019
Median household income in 2021 dollars: $63,333
Population, July 1, 2021: 733
Households 2017-2021: 326
16. Park (sixteenth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $39,975
Median household income in 2021 dollars: $77,775
Population, July 1, 2021: 17,720
Households 2017-2021: 7,169
17. Grand County (nineteenth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $39,377
Median household income in 2021 dollars: $69,353
Population, July 1, 2021: 15,860
Households 2017-2021: 5,841
18. Hinsdale (third in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $39,213
Median household income in 2021 dollars: $45,714
Population, July 1, 2021: 781
Households 2017-2021: 442
19. El Paso (tenth in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $37,619
Median household income in 2021 dollars: $75,909
Population, July 1, 2021: 737,867
Households 2017-2021: 270,178
20. Mineral (second in 2006-2010)
Per capita income in past twelve months (in 2021 dollars): $33,849
Median household income in 2021 dollars: $55,556
Population, July 1, 2021: 924
Households 2017-2021: 386
Click to read our three-part series on Colorado growth: “Almost Everything You Think You Know About Colorado Growth Is Wrong,” “Surprising Reasons Why Colorado’s Growth Is Slowing,” and “Why Denver Could Face a Slowing Growth Crisis This Decade.”
