The largest city and capital of Colorado is Denver, which is well-known for its vibrant culture, varied economy, and stunning scenery. Still, not every part of the metro area has the same prosperity and standard of living. Denver’s municipalities varied significantly in median household income, ranging from over $100,000 to less than $50,000, according to recent data from the U.S. Census Bureau.
Which Neighborhood in Denver Is the Poorest in Wealth?
Sheridan is the Denver neighborhood with the lowest median household income, according on data from 2016 to 2023. Sheridan is a small town with about 6,000 people that is located in Arapahoe County, south of Denver. With a median household income of $46,202, it is the lowest among the 36 metro area municipalities for which data is available. Sheridan has the third-highest poverty rate in the area, with a rate of 22.4%.
Sheridan faces economic difficulties as a result of a number of variables, including its population, geography, and history. Originally a coal mining town in the late 1800s, the town’s economy declined after World War II, leaving many residents jobless or with low incomes. Furthermore, the Hispanic community in the town makes up about 40% of the total population. In the US, this demographic is generally associated with lower earnings and higher rates of poverty. The town’s access to resources and economic possibilities may be further restricted by its closeness to affluent neighborhoods such as Littleton, Englewood, and Cherry Hills Village.
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What Sets Sheridan Apart From Other Neighborhoods in Denver?
Sheridan’s financial circumstances are noticeably poorer than Colorado’s average and the neighborhood’s in Denver. Denver’s average household income was $72,661 over the same period, while Colorado’s was $75,231. Thirteen metro areas fell below the state median, including Sheridan. Federal Heights, Edgewater, Wheat Ridge, Fort Lupton, Englewood, Aurora, Northglenn, Lakewood, Boulder, Dacono, Brighton, and Westminster are among the other localities whose salaries are lower than the national average.
On the other hand, thirteen places report having a median household income of more than $100,000 annually, with Cherry Hills Village topping the list with over $250,000. Cherry Hills Village is the wealthiest municipality in the Denver neighborhood and the state of Colorado, with a poverty rate of just 2.4%. The other twelve communities with above-average salaries are Broomfield, Frederick, Centennial, Lone Tree, Parker, Louisville, Cherry Creek, Firestone, Arvada, Lafayette, Thornton, and Golden.
What Opportunities and Challenges Does Sheridan Face?
Sheridan faces many obstacles in its efforts to improve its economic situation, including as low rates of educational attainment, a scarcity of reasonably priced housing, and inadequate public transportation. In Sheridan, the percentage of adults with a bachelor’s degree or above is just 16.5%; in Denver and Colorado, the figures are higher at 39.4% and 41.2%, respectively. The town is also burdened by high housing costs; in Colorado and Denver, respectively, 28.9% and 30.5% of households spend more than 30% of their income on rent or a mortgage. Additionally, the percentage of Sheridan employees who use public transit is 6.4%, compared to 10.9% throughout Colorado and 16.5% in Denver.
Notwithstanding these difficulties, Sheridan has opportunities for economic growth due to its closeness to Denver, its capacity for rehabilitation, and its community-based projects. The community offers easy access to jobs, services, and other facilities due to its proximity to Denver’s downtown. Sheridan also contains unused land that might be developed into mixed-use projects to draw locals, visitors, and businesses. The community works together through a number of organizations and has a strong sense of identity, which supports initiatives to raise living standards.
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In Summary
Sheridan is the neighborhood in Denver with the highest poverty rate (22.4%) and the lowest median household income ($46,202). The town’s geography, demographics, and history all have an impact on its economic situation. Sheridan does, however, have chances to take advantage of its development potential, closeness to Denver, and neighborhood-based initiatives. Even while the town is resilient, it still needs more care and assistance to get past its financial challenges.