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Denver is the capital of the state of Colorado. Covering around 154 square miles, it is the state’s second largest city by land area after Colorado Springs
It is located in the South Platte River Valley near the Rocky Mountains at an elevation of about 5,280 above sea level, which famously earns it the nickname The Mile High City.
Denver is a young city which sprang into life in the second half of the 19th century on account of a gold rush, and it was very much part of ‘The Wild West.’
With an estimated population of 704,621, Denver is the most populous municipality in Colorado and one of the fastest growing major cities in the United States, having experienced a 17.1% increase since 2010.
The Denver-Aurora-Lakewood Metropolitan Area, of which the city is a part, had an estimated population of 2,888,227 in 2017 and is the 19th most populous in the U.S.
Denver is served by rail transport services via the Denver Union Station, which also has light rail services. The city's location makes it one of the country's most important transportation hubs.
The city has recorded an increase in real estate investment, and it is an inviting destination for homebuyers. Denver has a wide selection of residential real estate to suit a range of budgets, from elegant condos to traditional brick bungalows and townhomes.
Denver is well-known for the variety of outdoor activities that residents and visitors alike can enjoy. This is due to the generally sunny weather, as the city has a mid-arid and mild climate, and its proximity to the mountains, where skiing, climbing, hiking and kayaking are very popular activities.
The city is quite racially diverse. The Jewish population here is well established, and the Japanese and Mongolian populations are also notable. The Hispanic population here is sizable, which adds several other different cultures into the mix. Denver is a youthful city, with a median age of 34, compared to the US median age of 37.4.
Entertainment and Tourism
Denver is home to a large number of museums and art galleries, including the Denver Art Museum, the Denver Museum of Nature and Science and the History Colorado Center. There are many shopping opportunities, for instance in the 16th Street Mall. Sport is popular here, and the Denver metro area makes the proud claim that it is the smallest US metropolis to have teams in all four major sports leagues (the NBA, NHL, NFL and MLB).
The city’s restaurant scene is particularly interesting owning to its strong connection with New Mexican cuisine, which has Native American and Hispano/Spanish influences and uses a lot of chili peppers and spices. The city also boasts a thriving nightlife and club scene—maybe it is for this reason that Denver was declared the best city for singles three years in a row! For more a more relaxed experience, there are plenty of outdoor cafés.
Denver officially has 78 regions with boundaries that are not so fluidly defined. The city can also be divided into four regions: North, South, East and West.
North Denver is an ethnically diverse part of the city with a large number of its populace living within the middle-class income bracket and with its eastern part having a predominantly Hispanic/Latino population. Five Points is a well-known neighborhood here, as it is a historic area and also a fast-growing one in terms of development and population. There's a cluster of recreational parks in this sector, including Sloan's Lake Park, Hallack Park and Berkeley Hills Park. Some of Denver's most famous medical facilities are also situated in this area.
South Denver is home to the University of Colorado's Leeds School of Business. Apartments for students looking to study and work shouldn't be too hard to find here. Washington Park is one of the most historical neighborhoods in this part of town and is a popular destination on account of its lake and recreation facilities. The area has seen an increase in its employment rate, which has been partly fuelled by the presence of companies like Visa, Redwood Trust and CoBank. Household incomes here tend to be higher than in many other areas of Denver.
The Denver Coliseum—an indoor arena for sports activities, concerts, exhibits and shows—is situated in East Denver and boasts large attendances for a variety of events. The area's skyline ends to be somewhat dominated by industrial facilities. Neighbourhoods here include the historic Montclair, which was once called the living model of the American suburban dream. Transportation in this area is good owing to the interstate road network that bounds it. A major rail line also runs through this area.
West Denver is mostly residential with many single-family homes and a few multi-family constructions. On the Northwest side the Hispanic/Latino population is more predominant. A few miles of light rail line connects West Denver to downtown Denver and the city’s rail system. Some major employers are located along the interstate roads cutting across the area and connecting it to other parts of Denver and to Denver's International Airport. The mountains are easily accessible from this area too.
In recent years, a lack of inventory in some sectors of Denver kept a brake on sales volume. Recently there have been more properties on the market and the encouragement of lower mortgage rates, but it seems buyers have not been as enthusiastic as might have been expected. This means there are plenty of properties to be had here right now.
North Denver is home to many contemporary urban condos with attractive designs. A part of the area is a concentration of brick bungalows for single families. However, some multi-family dwellings can be seen here in several different modern construction styles.
South Denver has an abundance of single-family homes and a few low-rise apartment blocks. There are also some urban townhouses with lovely landscapes. This area has properties that tend to cost more per square foot than in other areas, making it one of the most expensive parts of Denver in which to buy a home.
East Denver has mostly low-rise condos with green landscapes for homebuyers who love to be at one with nature. There are also some beautiful traditional bungalows and townhouses here for homebuyers to choose from, with some very nice examples costing more than $1M.
There are mostly residential bungalows in West Denver, but a few condos stand out here too with their penthouses offering elevated views of the surrounding neighborhoods. Most of the properties provide up to two parking spaces for homebuyers.
Median Home Price: $409,900
Average Rent Price: $1,608
Property sales figures source: the Denver Metro Association of Realtors®, February 2019 and December 2018, and median price calculated over all 2018.
Denver, through its public school system, provides quality education to about 92,000 students. Students of the Grade K-8 schools have recorded significant proficiency in reading and writing skills and math literacy. Denver's public school system has over the years achieved significant improvement across all student subgroups.
The city is home to major public universities such as the University of Colorado Denver and the Metropolitan State University of Denver. Private universities here include University of Denver—the city’s oldest institution of higher learning, dating from 1864—and the Jesuit-run Regis University. More than 41% of the city's residents have a bachelor's degree or higher.
Economic Overview & Outlook
Denver's geographical location has encouraged some federal agencies to base themselves here, and that in turn has attracted large companies involved in defense and space projects. There are also many mining and energy companies due to the proximity of the mineral-rich Rocky Mountains. Owing to the city's good transportation options and its equidistance from cities such as Chicago and Los Angeles, it is a suitable location for storage and distribution, which provides a significant boost to the economy. Technology is also a driving force here: The Mile High City is home to large companies like AIMCO and Air Methods, which are headquartered in Denver Technological Center.
All these factors, and with some input from the tourism industry as well, tend to ensure a stable base for the local economy. Denver has one of the lowest unemployment rates in the country, though recently it has moved closer to the national average.