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Economic IndicatorsFebruary 2017
WE BUILD COMMUNITY THROUGH BUSINESS
Unemployment Rate
Employment (Boulder County)
2.2%Dec 2016
3.0%July 2016
2.6%Dec 2015
Total Employment
181.1 (Dec 2016)185.7 (June 2016)188.1 (Dec 2016)
+3.9%1 year
Boulder County recorded 188,100 jobs in Dec 2016, a 1.3% increase over the last 6 months and 3.9% increase over last year. Source: Bureau of Labor Statistics
Measured in 1,000s
The Boulder Economic Council of the Boulder Chamber publishes this economic indicators report quarterly. It is produced with the assistance of CU Boulder’s Business Research Division at the Leeds School of Business.
BOULDER
The Boulder Economic Council and Boulder Chamber assume no responsibility or legal liability for the accuracy, completeness, or usefulness of any information in this report.
In Dec 2016, the unemployment rate was 2.7% in Colorado and 4.5% in the United States. Unadjusted unemployment rates. Source: Bureau of Labor Statistics
+1.3%6 months
1.9%Retail
8.2%Office
5.9%R&D/Flex
4.4%Industrial
Commercial vacancy rates have been in the single digits in Boulder, Colorado since Q1 2013.
Office vacancies have increased slightly from 6.4% vacancy in Q2 2016 to 8.2% in Q3 2016. At the same time in 2015, office vacancy was 4.1% Industrial vacancy has gone from 3.9% in Q2 2016 to 4.4% in Q3 2016, compared to 2.6% in Q3 2015.
These increases are partially due to new inventory on the market, but also do not take into account sub-lease space that is available.
Retail vacancies have increased from 1.7% in Q2 2016 to 1.9% in Q3 2016, compared to 1.1% in Q3 2015. Source: Newmark Grubb Knight Frank
Commercial Vacancy Rates
Residential Real Estate
The median single-family home price in Boulder, Colorado has increased 31% since 2014. Source: Boulder Area Realtor Association
Residential Rental Market
Apartment vacancies for Boulder / Broomfield Counties were 5.1% in Q3 2016, compared to 5.4% in the previous quarter and 3.6% in Q3 2015. Source: Apartment Association of Metro Denver
Source: Leeds School of Business, University of Colorado Boulder
Business Confidence
303.442.1044 | 2440 Pearl Street • Boulder, CO 80302 | www.BoulderEconomicCouncil.org
5.1% Vacancy Rate Broomfield/ Boulder Counties
Median Single-Family Home Price
$845,0002016
$750,0002015
$656,0002014
$631,2502013
Single-Family Homes Sold
According to the Leeds Business Confidence Index (LBCI) business leaders’ expectations remained positive, and it increased slightly from 54.6 in Q3 2016 to 60.3 in Q1 2017.
9062016
10212015
9752014
8262013
A total of 906 homes sold in 2016, compared to 1021 homes sold in 2015 (11.3% decrease).Source: Boulder Area Realtor Association
Venture Capital Investment
In Q2 & Q3 2016, Boulder companies received $18.3 million in venture capital investment. Since Q1 2014, Boulder companies have received $513 million in venture capital investment, representing approximately 30% of all investment in Colorado.
Source: PwC MoneyTree Report
$18.3 million Boulder, Colorado
$513 million Since Q1 2014
2016 Investment (Q2 & Q3)
30%
Retail Sales Tax Revenue
In Nov 2016, the 12-month rolling sum for retail sales tax revenue in the City of Boulder reached $104,704,215, compared to the 12-month rolling sum of $100,605,930 in Nov 2015.
Source: City of Boulder
$104.7 million City of Boulder
12-month Rolling Sum
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