Why are California millennials moving to Colorado
In recent times, California is becoming less and less popular. Many companies, stars, and others are migrating away from California to other places. One of the most popular states for people to move to is certainly Colorado, with millennials being one of the largest populations who move to this State. In this article we are going to explore why are California millennials moving to Colorado, and why are other people and companies moving away from California. So, without further ado, let’s begin!
So, Why are California millennials moving to Colorado?
The short answer is – it’s complicated. There is not one single factor why is that happening. So, let’s explore some of the reasons together with our friends from homegrownmoving.com.
California is too expensive
Sure, California is the center of the West, but that doesn’t change the fact that Cali is simply too expensive. Today millennials simply do not have the resources to live comfortably in California. And main cities like Los Angeles and San Francisco do not offer too many benefits for the cost of living. Also, homes in California are pretty expensive, and there is not much relatively cheap real estate being built. It is quite tough for young adults to survive in that environment.
Also, California has one of the highest tax rates in the whole of the US, which can be unbearable for millennials, baby-boomers, companies, and everybody else.
With a massive state income tax of about 13%, it is no wonder why people are leaving LA and San Francisco to find a better life. The most popular states for Californians are Nevada, Texas, and Colorado. Nevada, for example, has no state income tax.
Sure, California is the wealthiest state in the US, but Texas is the second wealthiest. You can get a newly built home in Texas for a fraction of the price of Golden States’ homes.
Denver in Colorado is another popular destination for Californians. It is a much cheaper place than places like San Francisco and Los Angeles, and Denver is one of the fastest-growing cities in the US. So, if too want to move to Denver, know that professionals are the best help for the process of relocation. Even if you decide that you don’t like a home you got, you can always move locally, if you have hired the right people/
Overpopulation and the extreme poverty rate
Even though there are many fantastic beach houses in California, The Golden State, According to the US census bureau, has a poverty rate at a staggering 18.2%. This number is the second biggest in the whole of the US. Only Washington DC has a higher poverty rate than the Golden State. In other words, nearly every fifth person lives under that poverty line. And many of them are millennials.
As a result, California’s major population hubs experience a lot of homelessness. This problem is hard to solve, and it is only getting worse.
The answer to this question is much more complicated, and this article just scratches the surface. Good luck to all California millennials moving to Colorado!