**Denver's Soaring Costs: How Much More You're Paying Since 2020** Rent, groceries, and gas prices have skyrocketed—find out just how much more

# **Denver's Cost of Living Crisis: How Prices Have Skyrocketed Since 2020**

Denver, once considered an affordable gem in the Rocky Mountains, has undergone a dramatic transformation. The city’s cost of living has surged dramatically since 2020, leaving many residents struggling to keep up with soaring housing, food, and transportation costs. Here’s a detailed breakdown of how much more expensive Denver has become—and what’s driving the crisis.

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## **Housing: The Biggest Culprit**

Denver’s housing market has exploded, pushing homeownership and rentals far beyond the reach of average earners.

- **Median Home Prices:** In 2020, the median home price was around **$485,000**. Today, that figure has climbed to **$600,000+**, a **23% increase**.
- **Rent Increases:** A one-bedroom apartment that cost **$1,400/month** in 2020 now averages **$1,900/month**—a **36% jump**.
- **Low Inventory:** A severe housing shortage has fueled bidding wars, driving prices even higher.

### **Why Are Prices So High?**
- **Population Boom:** Denver continues to attract new residents, increasing demand.
- **Short-Term Rentals:** Airbnb and VRBO have taken thousands of units off the long-term rental market.
- **Construction Costs:** Rising labor and material expenses slow new housing development.

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## **Groceries: The Silent Budget Killer**

A trip to the grocery store is no longer a simple errand—it’s a financial burden.

- **Eggs:** From **$1.50/dozen** in 2020 to **$4.00+** today.
- **Milk:** Up **40%**, from **$2.50/gallon** to **$3.50+**.
- **Beef:** Ground beef has risen from **$4.50/lb** to **$6.00/lb**.

Inflation and supply chain disruptions have hit hard, but wages haven’t kept pace.

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## **Transportation: Getting Around Costs More**

Whether you drive or take public transit, moving around Denver is pricier than ever.

- **Gas Prices:** From **$2.30/gallon** in 2020 to **$3.80/gallon** today.
- **RTD Fares:** A local bus pass increased from **$114/month** to **$132/month**.
- **Used Car Prices:** Up **50%** due to semiconductor shortages.

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## **Is Denver Still Affordable?**

While salaries in Denver have increased, they haven’t matched the rising costs:

- The **median household income** in Denver is **$78,000**, but financial experts suggest a salary of **$90,000+** is now needed to live comfortably.
- Many young professionals and families are **leaving for cheaper cities**, worsening the labor shortage in key industries.

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### **What’s the Solution?**

Possible fixes include:
- **More Affordable Housing:** Faster approval for high-density developments.
- **Rent Control:** Controversial but debated as a way to stabilize costs.
- **Public Transit Expansion:** Reducing reliance on cars could ease transportation costs.

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## **What Do You Think?**

- **Is Denver’s growth sustainable, or will it price out middle-class families?**
- **Should Colorado implement rent control despite opposition from landlords?**
- **Are remote workers driving up housing costs, or is it a lack of supply?**
- **Would you move away from Denver if costs keep rising?**

Let us know in the comments—do you think Denver can reverse this trend, or is it the new normal?

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