Colorado
Between the 2022 and 2023 filing years, Colorado saw a net gain of 10,878 tax-filing households and a net gain of 7,030 individuals. Against a population of about 5,877,610, that is a net inflow of about 1.2 per 1,000 residents. On net, the area gained $671.3M in associated adjusted gross income (AGI, nominal dollars).
Migration Overview
- Net income (AGI): +$671.3M nominal dollars
- Net households: +10,878 tax returns
- Net people: +7,030 exemptions
- Net people per 1,000 residents: +1.2 (population 5,877,610)
Income (AGI) in and out:
- Moved in: $10.2B
- Moved out: $9.5B
- Net: +$671.3M (nominal)
Top Origin States
- Texas: 14,923 households, $1.3B AGI
- California: 14,044 households, $1.4B AGI
- Florida: 8,639 households, $656.3M AGI
- Arizona: 5,683 households, $466.7M AGI
- Illinois: 4,686 households, $478.4M AGI
- New York: 3,987 households, $385.2M AGI
- Washington: 3,480 households, $335.1M AGI
- Virginia: 3,276 households, $292.5M AGI
- North Carolina: 3,117 households, $237.4M AGI
- Georgia: 3,057 households, $240.2M AGI
Top Destination States
- Texas: 12,275 households, $1.1B AGI
- California: 9,699 households, $877.2M AGI
- Florida: 9,070 households, $954.1M AGI
- Arizona: 6,012 households, $584.5M AGI
- Washington: 3,935 households, $340.9M AGI
- North Carolina: 3,423 households, $289.1M AGI
- New York: 3,210 households, $273.5M AGI
- Illinois: 3,198 households, $290.7M AGI
- Missouri: 2,677 households, $194.5M AGI
- New Mexico: 2,642 households, $168.2M AGI
Churn by State (Two-Way Exchanges)
The biggest two-way exchanges of filing households, 2022–2023:
- Texas: 14,923 in, 12,275 out, +2,648 net, +$238.1M AGI
- California: 14,044 in, 9,699 out, +4,345 net, +$565.4M AGI
- Florida: 8,639 in, 9,070 out, -431 net, -$297.8M AGI
- Arizona: 5,683 in, 6,012 out, -329 net, -$117.8M AGI
- Illinois: 4,686 in, 3,198 out, +1,488 net, +$187.7M AGI
- Washington: 3,480 in, 3,935 out, -455 net, -$5.9M AGI
- New York: 3,987 in, 3,210 out, +777 net, +$111.6M AGI
- North Carolina: 3,117 in, 3,423 out, -306 net, -$51.7M AGI
- Virginia: 3,276 in, 2,627 out, +649 net, +$62.7M AGI
- Georgia: 3,057 in, 2,571 out, +486 net, +$45.3M AGI
- New Mexico: 2,743 in, 2,642 out, +101 net, +$28.5M AGI
- Missouri: 2,523 in, 2,677 out, -154 net, +$8M AGI
Counts are filing households (IRS returns). A dash means the IRS published only one direction of that exchange (small flows are suppressed), so no net is computed.
Net Migration by Year (2012–2023)
Net AGI and net people by year (nominal dollars):
- 2012: +$1.1B AGI, +20,703 people
- 2013: +$1B AGI, +26,544 people
- 2014: +$970.4M AGI, +29,609 people
- 2015: +$889.1M AGI, +28,492 people
- 2016: +$1.8B AGI, +34,631 people
- 2017: +$2.4B AGI, +32,429 people
- 2018: +$2.1B AGI, +26,840 people
- 2019: +$2B AGI, +18,862 people
- 2020: +$2.3B AGI, +11,161 people
- 2021: +$2.1B AGI, -3,557 people
- 2022: +$1.5B AGI, -3,074 people
- 2023: +$671.3M AGI, +7,030 people
Total net 2012–2023: +$19B AGI, +229,670 people.
Migration in Context
In the 2022–2023 filing year, about 7,030 more people moved into Colorado than left (counting tax filers and their dependents) — a net gain of about $671.3M in income (nominal) — in a state of 5,912,240 people.
- Population: 5,912,240 (Census 2023 estimate)
- Net migration rate: +1.2 net people per 1,000 residents (a town of 10,000 would net about +12 people)
- Net income per resident: +$114 nominal dollars (≈ +$671.3M total across 5,912,240 residents)
The IRS counts tax filers; population counts all residents, so read the rate as a scale indicator, not a literal share of people.
Components of Population Change (2023)
Where the state’s overall change came from (Census counts all residents; IRS migration is one slice of the domestic-migration component):
- Births: +62,233
- Deaths: 45,204
- Net domestic migration: +6,008
- Net international migration: +35,920
- Total change: +58,885
Income & Cost of Living
Prices around Colorado run about 2% above the national average. In plain terms: $100 spent here buys about what $98 buys in the average American community.
- Income per person: $80,169 (15% above the U.S. average, BEA 2023, nominal)
- Price level: 101.9 (100 = U.S. average prices, BEA price parity)
- What that income buys: $78,708 (local income restated at U.S.-average prices, 12% above the U.S. average)
Price parity by category (index where 100 = U.S. average):
- Housing & rents: 130.5
- Goods: 99.2
- Utilities: 86.8
- Other services: 96.5
Housing is measured from rents (including an estimated rental value for owner-occupied homes), so a run-up in purchase prices shows here only as it reaches rents.
Demographics
The people of Colorado (American Community Survey, 2019–2023, a 5-year average of all residents, not just tax filers):