Boulder Economic Profile

Data below was used to inform the Economic Development Plan and was last updated in spring 2025.

The city of Boulder has approximately 106,852 residents including University of Colorado Boulder students, many of whom live in Boulder and represent 31% of the city’s population. Over the past ten years, Boulder’s population increased by 3,409 residents (3.3%) while Boulder County’s population increased by 15,767 residents (5.1%). By comparison, seven-county Metro Denver area’s population increased by 4.4% and the state population increased by 11.5%.

Boulder has an estimated 47,847 housing units with an average household size of 2.12 persons. Between 2013 and 2023, the number of housing units in the city increased by 8.4%. During that same period, the average household size decreased slightly.

Overall, the demographic characteristics of Boulder’s population have remained fairly consistent over the past decade. According to U.S. Census data, when compared to the national average, Boulder residents are:

• Younger – 48% of city residents are between 18 and 35 compared to 23% of U.S. residents and have a median age of 28.6 compared to a national average of 39.2.
• More likely to have a college degree - Boulder residents continue to have one of the highest levels of educational attainment in the nation. More than three-fourths (76%) have a bachelor’s or advanced degree compared to a national average of 36%.
• More likely to rent than own their home – 55% of residents rent their home compared to a national average of 35%.
• Less likely to live in households with children – 14% of residents live in households with children under 18 compared to 26% of residents nationwide.
• Have higher or lower incomes – While the average per capita ($50,434) and family incomes ($168,686) of residents are higher than the national average ($43,313 and $96,401 respectively), the average household income of Boulder residents ($75,923) is somewhat lower than the U.S. average ($77,719) and much lower than the state average ($92,911) reflecting the city’s comparatively high percentage of non-family households.
• More likely to work in professional or management occupations – 62% of employed residents work in management, business, science or arts occupations, compared to 43% of U.S. residents.
• Slightly more likely to be self-employed and much more likely to work from home – 12% of residents are self-employed, compared to a national average of 10%, and 28% regularly work from home compared to the national average of 14%.
• More likely to commute to work by walking, biking or using public transit – 46% of residents drive alone to work compared to 69% of U.S. residents.

Age – On average, Boulder residents are younger than average with a median age of 28.6 years compared to a national average of 39.2 years. Over the past decade, the median age has increased from 27.7 years. Boulder has a high percentage of residents between the ages of 18 and 24 when compared to state and national averages. The city also has a much lower percentage of residents under 18.

Education – Boulder residents continue to have one of the highest levels of educational attainment in the U.S. More than three-fourths (75.9%) of the city’s residents have a bachelor’s or advanced degree compared to a national average of 36.2%

Ethnicity – According to U.S. Census Bureau data, 76.3% of Boulder residents are white while 11.2% are Latinx, 5.5% are Asian, 1.6% are Black or African American and 5.5% are other races.

Housing and Households – When compared to state and national averages, Boulder residents are less likely to live in family households, households with children, single family housing units, and owner-occupied housing.

Income – Over one-third of Boulder residents have household incomes under $50,000 a year, including students and other individuals living in nonfamily households, and 42.5% have annual household incomes over $100,000. While the median household income of $77,923 for Boulder residents is lower than state and national averages, the median family income of $168,686 is notably higher. At the same time, the city has a higher percentage of poverty.

Occupation – Nearly two-thirds of Boulder residents are employed in management, business, science and arts occupations. Nearly sixty percent of city residents work for private employers, while 17.7% work for the local, state or federal government and 10.5% are employed by private non-profit organizations. Twelve percent of Boulder residents are self-employed. Over half (55.6%) of Boulder residents work outside the city. Boulder residents are more likely to work from home, spend less time traveling to work, and are more likely to use public transportation or to bicycle or walk when compared to state and national averages.

Despite challenges, including many that are shared by other communities, Boulder’s economy is strong overall and continues to experience growth that has been driven by a number of factors including the presence of world-class research institutions, a well-educated workforce, a broad range of businesses and industries, and an award-winning quality of life which helps attract residents, workers and visitors. Characteristics of Boulder that support a healthy economy include:

• Boulder is an employment center for the area – There are an estimated 8,500 employers in Boulder employing 98,450 individuals and paying wages of $10 billion a year. Employers in the city provide 50% of the jobs and 57% of wages in Boulder County. Approximately 70-80% of the people who work in Boulder live outside the city.
• Presence of the University of Colorado Boulder – The university has over 38,000 students, is the city’s largest employer with over 9,600 employees (excluding student workers), and is the area’s largest economic contributor.
• Over a dozen national research labs – There are more than 17 federally funded research labs in the city that collectively employ nearly 4,000 research scientists and other workers and contribute more than $1.1 billion to the local economy each year.
• Diverse mix of businesses and industries – The city’s businesses, many of which are headquartered in Boulder, range from startups and home-based businesses to Fortune 500 companies in nearly all industries. Boulder’s largest industries are professional and technical services (21%), government (17%), and manufacturing (12%).
• Many small businesses – Businesses with fewer than 50 employees represent an estimated 96% of the city’s employers and provide 40% of the jobs in Boulder, while 90% that have fewer than 20 employees and provide 24% of the jobs. Microbusinesses with fewer than 10 employees represent 82% of employers and provide 14% of the city’s jobs. Small businesses help diversify the economy and many serve the needs of residents, workers, students and visitors.
• Larger employers - While most of the city’s businesses are small, employers of all sizes play an important role in the local economy. Employers with more than 50 employees represent 4% of the city’s employers and provide 60% of the jobs in Boulder. Those with more than 100 employees represent 1% of employers and 46% of the jobs. Larger businesses and institutions also help stabilize the local economy by anchoring industries and helping to support smaller businesses.
• High concentration of businesses in emerging industries – The Boulder area has a concentration of advanced technology industries (aerospace, bioscience/life sciences, information technology, renewable energy/clean tech, and telecommunications) and those related to health and well-being (natural and organic products and outdoor recreation) than most communities.
• Long history of innovation and entrepreneurship – Boulder is nationally recognized as a startup hub and has been ranked as one of the best places in the nation to start and grow a business. Over the years, CU Boulder and the labs have received significant federal research funding, and the area has one of the highest per capita rates of federal innovation grants and patent activity.
• Primary employers that infuse new money into the economy – Approximately 9% of the city’s businesses are in industries that typically sell their products or services outside the area, bringing new money into the economy. These “primary employers” include businesses of all sizes; many are in the professional and technical, manufacturing, information industries; and many are located in East Boulder, Central Boulder (including Downtown) and Gunbarrel.
• Well-educated workforce – Many residents in Boulder and surrounding communities have education, skills and experience that help meet employer needs. The city has a very high concentration of employment in STEM occupations including life, physical, and social sciences; computer and mathematical; and architectural and engineering occupations, reflecting the presence of the university, labs and advanced industries.
• High quality infrastructure and amenities – Boulder offers a variety of housing types, excellent schools and health care facilities, and well-maintained physical and digital infrastructure including an excellent multimodal transportation system.
• Award-winning quality of life that attracts talent and tourists – Boulder is nationally recognized for its quality of life. The city’s climate; scenic beauty; community values; variety of recreational, arts and cultural, dining, shopping and entertainment options; and convenient location help make Boulder an attractive place to live, work and visit.
• Popular tourist destination – Boulder has a long history of being a destination for leisure and business travelers. Visitors to the city generate significant sales activity for local restaurants, retail shops and attractions, as well as sales, accommodations and food services tax revenue that supports essential city services.
• Collaborative, resource rich business environment – Collaborative partnerships between the city and the Boulder Chamber, Boulder County, Boulder SBDC, CO-LABS, Colorado Enterprise Fund, Downtown Boulder Partnership, Innosphere, Latino Chamber, University of Colorado Boulder, Visit Boulder, and others support a positive business climate with a range of resources for businesses.