Colorado’s growth story isn’t what most people think.
Between 2020 and 2024, Colorado added nearly 170,000 residents—and migration, not births, is the real driver.
Here’s what the data actually shows:
• +182,169 people since 2020
• 3.2% growth rate (faster than the U.S. average of 2.6%)
• 11th in total population growth nationwide
• 16th in percent growth
🚚 What’s driving the growth?
• 63% of Colorado’s population increase came from net migration
• Only 37% came from natural increase (births minus deaths)
In plain terms:
👉 People are choosing Colorado.
This has real implications for:
• Housing demand
• Workforce availability
• Commercial real estate absorption
• Infrastructure and municipal planning
For owners, investors, and developers, migration-led growth behaves very differently than organic growth—and the opportunities (and risks) are not evenly distributed across the state.
Data source: Colorado State Demography Office, Vintage 2024 Population Estimates (pages 8 & 17).
2025 Summit Population Estimates
Link to source document.
-On a National Level-
People vote with their feet.
From 2020–2024, U.S. population growth clustered in just a few states:
⬆️ Top gains
Texas: +1.2M
Florida: +1.0M
North Carolina: +487K
⬇️ Largest losses
California: −338K
Illinois: −194K
New York: −102K
This isn’t random—it’s a signal.
Population growth fuels housing demand, jobs, and commercial real estate activity. Declines create very different challenges.
Follow the people. The real estate usually follows next.
Source: U.S. Census Bureau | Colorado State Demography Office
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