Moving from Denver to Greeley

The corridor’s IRS AGI was $75,325.60 per return, but that is an income measure for the tax-return households in this historical flow, not wage income or rent-qualified income. ACS 2024 five-year median household income was $97,097 in Greeley and $105,762 in Denver, an $8,665 destination shortfall. The lower local benchmark is contrary evidence to treating lower rent alone as a complete affordability conclusion. A moving household needs its own after-tax income, commuting arrangement, debt obligations and lease terms rather than the market median.

BLS CES payroll employment over the 12 months through June 2026 increased 1.63% in Greeley and declined 0.11% in Denver. CES counts payroll jobs, while ACS describes households and IRS migration describes tax filers; the measures are not synchronized or interchangeable. The positive Greeley reading belongs in employer and tenant diligence, but it does not establish property vacancy, lease renewal, delinquency or collections. The next labor question is how the target tenant pool aligns with local employers, occupations, commuting patterns and any concentration in a small group of payroll sectors.

Zillow’s June 30, 2026 metro observation placed Greeley ZORI asking rent at $1,758 and Denver at $1,930. The same date placed Greeley ZHVI at $498,228 and Denver at $572,682. Those are lower destination benchmarks, but an actual household budget still requires bedroom count, utilities, deposits, lease timing, commuting and financing terms. For an investor, the ZHVI contrast is not an acquisition basis; current sale evidence, property condition and expense estimates remain separate underwriting inputs.

Combining the June 30, 2026 Zillow observations with ACS 2024 five-year median household income gives a rent-to-income screen of 21.73% in Greeley and 21.89% in Denver, plus price-to-income screens of 5.13 times and 5.41 times. These are cross-release directional screens, not current household budget shares. BEA’s 2024 housing Regional Price Parity was 112.599 in Greeley and 146.919 in Denver, with the national level as the index base. The lower Greeley price level is notable, while the nearly equal rent-to-income screen argues against a simple affordability verdict.

FEMA’s NRI counties (FEMA ArcGIS) release reports a modeled climate/hazard loss ratio of 0.1281% for Greeley and 0.1501% for Denver. Inland flood is the top identified hazard in both markets, so the lower Greeley ratio does not replace parcel-level flood-zone review, insurance quotes, deductibles and mitigation history. HMDA 2024 purchase originations show an investor share of 4.01% in Greeley versus 6.21% in Denver. That is a descriptive financing screen, not proof of buyer competition, bidding behavior or acquisition difficulty.

A permits-per-thousand-residents screen combining Census BPS 2026 year to date through June with ACS 2024 population stands at 10.86 in Greeley and 5.67 in Denver. This is a cross-period descriptive screen, not a same-period supply rate. Greeley’s share of permits in buildings with five or more units was 33.8%, compared with Denver’s 52.8%, so the higher per-resident count accompanies a lower multifamily concentration. Neither measure proves deliveries, vacancy or rent pressure. The next question is which permitted projects match the target submarket and property type, and which have reached construction or completion.