The State of Population Growth and Housing in Colorado
On November 7, the Lower Ark District attended the Annual State Demography Summit, which offered valuable insights into Colorado’s changing population and what these trends mean for communities across the state.
Population Trends
Colorado’s growth slowed to a 0.95% increase in 2023–2024, bringing the state just under 6 million residents. For decades, Colorado consistently outpaced the national growth rate, growing at an average of 3.6%, compared to the national 2.6%.
Several demographic forces are shaping this new reality:
Fertility rates are declining
Death rates are increasing as the population ages
Net migration has changed
As these trends continue, net migration is projected to become the sole driver of Colorado’s population growth by 2047.
Southern Colorado: Growth Fueled by Migration
Much of southern Colorado’s current growth comes from people moving into the region, not from natural increase (births minus deaths). County-level patterns include:
El Paso County remains one of Colorado’s top five fastest-growing counties. Its population is larger than Denver County, although the City of Colorado Springs is still smaller than the City of Denver.
Prowers, Otero, and Crowley Counties experienced population decline.
Pueblo and Bent Counties saw population increases, with Pueblo projected to grow through 2050, in part due to retiree migration.
Colorado’s age profile is also changing:
The mean age increased from 33.4 years in 1990 to 39.0 years in 2024, and is expected to reach 44.2 years by 2060.
The 65+ population is the fastest-growing cohort statewide.
Housing Assessment
The Denver Regional Council of Governments representing 3.4 million people across 9+ counties released its regional housing assessment, showing a persistent gap between housing needs and housing production.
Key findings include:
Low-income households (below 50% AMI) face the greatest shortages.
An aging population and smaller household sizes will require more diverse housing options.
The region needs 500,000 new homes by 2050, with nearly half of that (223,000 units) needed in 7 years (2032) to stay on track.
Why It Matters
Growth pressures translate into increased municipal water needs. Thirsty cities continue to cause serious and often irreversible harm to rural agricultural communities as they pursue additional water supplies to meet their growth needs.
Even as Colorado’s population growth slows, housing demand and the types of housing needed continue to drive development pressure along the Front Range, not population growth itself. With net migration projected to become the sole source of growth by 2047, Colorado faces important choices about why we grow, where we grow, and how we grow.
