Colorado Springs ranks number two for best places to live in the nation, according to U.S. News & World Report’s latest study released today, the 2018 Best Places to Live.
The report takes into consideration the most important factors that people consider in a great hometown, including affordability, job prospects, and quality of life. According to the study, the top places selected were locations where residents feel the most socially, physically, and financially fulfilled.
This research is a result of data from the U.S. Census Bureau, the Federal Bureau of Investigation and the Bureau of Labor Statistics, and other information from past U.S. News and World Report studies, as well as a public survey of thousands of people across the U.S.
Colorado Springs climbed 9 spots from last year’s ranking and bumped Denver from its No. 2 spot down to third. With Colorado’s two largest cities topping the list, it’s no surprise that Colorado Springs has seen major economic growth with an influx of new residents and skilled professionals in recent years.
Earlier this year, the Brookings Institute’s Metropolitan Policy Program reported that Colorado Springs had the greatest millennial growth rate of any U.S. city from 2010-2015 (14.7%), indicating that the young generation is one of the biggest drivers of Colorado Springs’ economic growth. Between the variety of recreational activities, a rapidly-growing downtown and low cost of living, millennials are increasingly choosing the region as a more sustainable place to take roots and grow their careers. U.S. News’ Best Places to Live report also indicated that Colorado Springs residents spend less than the national average on groceries, utilities, and transportation. Thanks to the region’s booming job market and high-skill industries, these young professionals are finding strong career opportunities in tech, aerospace, sports medicine, and more.
In downtown Colorado Springs, more than $670 million has been or is being invested into the city’s spaces, including new apartments, dining, and major cultural attractions like the U.S. Olympic Museum. Colorado Springs’ downtown is transforming into a unique and desirable hub of the city for residents to work, live, and play, and is drawing more new residents and businesses to the region.
For more in-depth details and a closer look at the comprehensive U.S. News & World Report ranking, find the full report here.