Jul 18, 2022 - News

More people are moving to Colorado than out

Data: Equifax, Moody's Analytics; Map: Kavya Beheraj/Axios

In the thick of the COVID-19 pandemic, when remote work became a new reality for many, more people moved to the Centennial State than away.

  • Colorado had a net inbound migration of 52% from January 2021 to February 2022, according to Moody's Analytics (subscription), ranking the state 20th in the U.S.

Why it matters: Recruiting and retaining people is a significant factor in the state's economic success.

By the numbers: 264,680 people moved into Colorado, while 248,150 people moved away, per Moody's. That's a net gain of 16,530 people.

Between the lines: As we've reported, Colorado metro areas have lured plenty of tech talent from coastal hubs in the era of flexible workplaces.

  • A Brookings Institution study published earlier this year listed the Denver-Aurora-Lakewood metro as a "rising star" for its growth, adding 14,477 tech workers from 2015 to 2020 — a 6.6% increase.

Zoom out: States with some of the lowest net inbound migration rates, such as New York and California, tend to have higher costs of living, according to Moody's.

  • The top states for net inbound migration between January 2021 and February 2022 were Montana, Idaho and Florida.

What to watch: Mass movement nationwide could have political implications, as most of the migration appears to be people moving from politically blue to red states, The Wall Street Journal reports.

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