2021 Population Summary

Colorado’s resident population as of July 2021 was 5,814,707, ranking 21st in size in the United States. Colorado’s 2021 population represents growth of 30,000, or 0.5% increase, over Colorado’s July 2020 population estimates. Colorado’s 2020-2021 growth percentage was the 17th-highest among U.S. states. The growth rate of 0.5% is the slowest growth rate since 1989.

From 2020-2021, 73% of the population growth was along the Front Range, compared to 95% in the previous decade. Growth in the Front Range varied by county. Denver, Jefferson, and Boulder all declined but there were increases in Douglas, Weld, El Paso Larimer and Adams. The Front Range still saw the largest population increase but the Central Mountains and Western Slope experienced faster growth.

Housing unit growth did not keep up with household formation from 2010 to 2020, primarily due to the Great Recession and the impacts to the financial and housing system, creating the tight housing market and escalating home prices. Since 2018 housing growth has returned to pre-great recession levels, increasing by over 40,000 housing units per year.

In 2021, housing growth increased by 42,000, continuing to help to ease some of the supply constraint. In 2022, housing unit completions are estimated to be over 50,000. Household formation fell to 11,000 in 2021 due to slowing migration. The increased supply and slowing demand will help alleviate the supply/demand mismatch and allow those who have had to “double up” on housing the potential opportunity to find independent housing. The ratio of housing units to households in 2021 was 1.12, improved from the 35-year record low of 1.08 reached in 2016. This ratio may still be a bit distorted due to the number of “doubled-up” households.

 For more information on households and housing in Colorado, visit our website. 

Between 2020 and 2030 Colorado is forecast to increase by 630,000, slower than the previous decade where Colorado increased by 745,000. Colorado’s population growth has started this decade significantly slower than the average annual growth seen last decade due to slower births, increased deaths, and slower net migration. With the return of international students and the demand for labor, international migration is forecast to remain at pre-pandemic levels, however, national policies will continue to significantly influence international migration levels. Population is forecast to increase by an estimated 50,000 – 55,000 annually from 2023 through 2025. Growth is expected to be two-thirds from migration and one-third from natural increase. Through 2025, the forecast is for natural increase to remain between 15,000 and 20,000, and net migration to be between 30,000 to 40,000 depending on job growth and international migration policy. Population growth is forecast to remain fairly strong (50,000-60,000) from 2025-2030, driven by continued job growth, and the retirement of baby boomers with the need for their replacements in the labor force.