Denver, the largest city and capital of Colorado, is known for its vibrant culture, varied economy, and beautiful landscapes. However, different areas within the metro area vary in terms of prosperity and standard of living. Based on the most recent data from the U.S. Census Bureau, there is a noticeable difference in median household income across the towns in the Denver neighborhood. In certain places, the median household income exceeds $100,000, while in others it falls below $50,000.
Which town in the Denver neighborhood has the lowest income?
Sheridan has the lowest median household income in the Denver neighborhood, according to data from 2016 to 2020. Situated in Arapahoe County, just south of Denver, Sheridan is a quaint town that is home to around 6,000 residents. With available data, the median household income in this town is $46,202, which is the lowest among the 36 towns in the metro area. Sheridan has a poverty rate of 22.4%, which is the third-highest in the region.
There are various factors that contribute to Sheridan’s economic situation, such as its historical background, population characteristics, and geographical position. Originally founded as a coal mining town in the late 1800s, Sheridan encountered economic difficulties following World War II as the industry declined, resulting in a significant number of residents facing unemployment or underemployment.
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In addition, the town has a significant Hispanic population, making up approximately 40% of its residents. Hispanics often experience lower incomes and higher poverty rates in comparison to other racial and ethnic groups in the U.S. In addition, Sheridan’s proximity to more prosperous towns such as Englewood, Littleton, and Cherry Hills Village could potentially restrict its access to economic opportunities and resources.
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What sets Sheridan apart from other towns in the Denver neighborhood?
Sheridan’s economic status falls far behind that of the Denver neighborhood and the average for the state of Colorado. The median household income for Colorado as a whole during the same period stood at $75,231, while for the City of Denver, it was $72,661. Sheridan was among the 13 metro communities that ranked below the statewide median in this category. Here are the other 12 towns that have incomes lower than the average: Federal Heights, Edgewater, Wheat Ridge, Fort Lupton, Englewood, Aurora, Northglenn, Lakewood, Boulder, Dacono, Brighton, and Westminster.
At the other end of the spectrum, 13 places have a median household income of over $100,000 per year. Cherry Hills Village leads the pack with a median household income exceeding $250,000. Cherry Hills Village is known for being the wealthiest town in the Denver neighborhood and the state of Colorado, boasting an impressively low poverty rate of only 2.4%. Here are 12 towns with above-average incomes: Broomfield, Frederick, Centennial, Lone Tree, Parker, Louisville, Cherry Creek, Firestone, Arvada, Lafayette, Thornton, and Golden.
What are the challenges and opportunities that Sheridan is currently facing?
Sheridan faces several obstacles in its efforts to enhance its economic situation, including issues with educational attainment, the availability of affordable housing, and the accessibility of public transportation. Based on data from the Census Bureau, the percentage of adults in Sheridan with a bachelor’s degree or higher is only 16.5%, which is significantly lower than the percentages for Colorado (41.2%) and Denver (39.4%). In comparison to the state of Colorado and the city of Denver, the town has a higher percentage of households, specifically 38.8%, that spend more than 30% of their income on rent or mortgage. This indicates a significant housing cost burden for the residents. In addition, Sheridan has a relatively low rate of public transit ridership. Only 6.4% of its workers use buses, trains, or other modes of transportation, compared to 10.9% in Colorado and 16.5% in Denver.
Nevertheless, Sheridan has several opportunities to address its economic challenges. These include its close proximity to Denver, the potential for redevelopment, and various community initiatives. The town is conveniently located near downtown Denver, providing easy access to a wide range of job opportunities, services, and amenities. In addition, Sheridan has a number of properties that are currently vacant or not being fully utilized. These properties have the potential to be transformed into mixed-use projects, which would help to attract more businesses, residents, and visitors to the area. In addition, the town has a vibrant community and a strong sense of identity, with residents and organizations working together to improve the quality of life.
In conclusion
Sheridan is considered to have a lower income compared to other towns in the Denver neighborhood, with a median household income of $46,202 and a poverty rate of 22.4%. Sheridan faces various challenges in improving its living standards, influenced by its history, demographics, and location. Nevertheless, the town has various opportunities to capitalize on its assets and strengths, including its close proximity to Denver, potential for redevelopment, and community initiatives. Sheridan deserves more attention and support, as it shows resilience and potential to overcome its economic challenges.
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