Colorado is the eighth largest state by area, with a population of 5,695,564 (U.S. Census Bureau, July 1, 2019). Colorado not only has a deep-rooted history of Native American culture but was built on the mining industry and transformed by the ski industry. Before the first European settlers, the Arapaho, Cheyenne, Utes and Shoshones tribes settled in Colorado. By the 1870s, the gold rush brought in 100,000 prospectors to Colorado, which established many boomtowns, including Denver and Aspen. Eventually, by the 1960s, many of the former mining towns were converted into ski resorts, which has become the backbone of Colorado's tourism industry.
Colorado's economy has a GDP of $376 billion (Bureau of Economic Analysis, July 1, 2018), which is driven by the agriculture, manufacturing, mining, and tourism industries. Many of the leading Fortune 500 companies have their headquarters in Colorado, including Western Union, Arrow Electronics, and Dish Network, to name a few.
The most recognized cities in Colorado are Denver, Colorado Springs, and Aurora.
Denver is the capital city of Colorado and has a population of 678,467. Denver is home to Denver Botanic Gardens, Denver Art Museum, and the Denver Zoo. Over the last ten years, Denver's housing market has appreciated by 97.15%. When compared to the rest of the nation, Denver's housing prices are significantly higher, with the median home price of $426,200 and a median rent of $1,661.
Colorado Springs resides in central Colorado and has a population of 450,000. Colorado Springs is home to the Garden of the Gods Visitor Center, Pikes Peak, and the Broadmoor Seven Falls. Over the last ten years, Colorado Springs' housing market has appreciated by 48.37%. When compared to the rest of the country, Colorado Springs' housing prices are slightly higher, with the median home price of $287,900 and a median rent of $1,184.
Aurora is located in the north-central part of Colorado and has a population of 357,323. Aurora is home to Cherry Creek State Park and Rocky Mountain Arsenal National Wildlife Refuge. Over the last ten years, Aurora's housing market has appreciated by 102.84%. When compared to the rest of the nation, Aurora's housing prices are significantly higher, with the median home price of $327,300 and a median rent of $1,354.