Average House Price Rose by $40,000 in a Year in Denver After City Legalized Marijuana and Thousands of People Moved There

The legalization of marijuana has contributed to a 15 per cent rise in Denver’s house prices with the average property now costing $40,000 more than last year.

The law change, which came into effect at the beginning of 2014, has seen thousands of pot-smokers move to the city – having a major impact on Denver’s job market – with many profiting from the legitimate marijuana industry.

The average home in the city currently costs $306,000 and is predicted to rise by a further six per cent over the next year, according to property expert Zillow.

he legalization of marijuana has also helped existing businesses including security, heating and ventilation firms who now service the new industry.

Real estate agent Kelly Moye, who has worked in Denver for 24 years, said: ‘The pot industry is creating jobs we didn’t have before. It’s brand new, it adds a whole new factor to the area; you have real estate needs, housing needs, job needs.

– Read the entire article at Daily Mail.