Where You Live May Impact the Rate at Which You Recover Financially After a Divorce
While divorce is not predictable, where you live afterward may affect your ability to recover from the financially devastating affects a divorce can have. Denver is among the best places to recover financially after a divorce—ranking fourth overall behind Minneapolis, Milwaukee, and Detroit as reported by Denver Business Journal and LendingTree. Lending Tree developed rankings based on their analysis of micro data from the US Census Bureau’s American Community Survey and ranked the fifty largest metropolitan areas by giving them an economic score, dating pool score, and remarriage risk score to identify the best and worst places to recover from divorce.
Here is How Denver’s Economic Score Breaks Down:
|Median annual income of divorced people;||$41,469||$34,441|
|Gap between the median income of divorced people and median income of one-earner families;||64.0%||40.8%|
|Percentage of divorced people who own a home;||61.8%||57.2%|
|Median monthly homeownership costs among divorced homeowners;||$1,431||$1,267|
|Median monthly rent price among divorced renters.||$1,365||$1,116|
Here is How Denver’s Dating Pool Score Breaks Down:
|Percentage of people who are unmarried;||36.3%||38.0%|
|Balance of single men to single women;||99.5%||88.5%|
Here is How Denver’s Remarriage Risk Factor Score Breaks Down:
|Percentage of divorced people who have been married at least three times;||4.9%||5.5%|
|Percent of people who are divorced;||18.0%||18.0%|
|Rate of people who are separated to those who are divorced.||14.6%||18.3%|
Increasing Rates of Divorce Between Ages 55-75
Decreasing Rates of Divorce Between Ages 24-39
Divorce rates among couples between the age of 24 and 39 are dropping, yet these couples are often buying houses and dogs together, and having children. Disputes that arise have to be settled in a civil case or juvenile court rather than in a divorce setting. As a result, some of these disputes are not necessarily guided by the same public policy principles that govern divorces. For example, for couples that do not marry and are not married by common-law, disputes may arise over property that was jointly purchased.
This dispute over property is addressed in civil court and are not governed by the Colorado Dissolution of Marriage Act. A full jury trial is often not the best setting to determine disputes over the house, furniture, and property. Griffiths Law represents individuals, married or not, in resolving parenting and financial matters in the event of a divorce, separation or break up. We endeavor to do our best to minimize the harm to families going through a very difficult and challenging time in their lives.
Eliza Steinberg is a Shareholder at Griffiths Law. Eliza Steinberg’s practice is focused exclusively on family law related matters including divorce, allocation of parental rights, post-decree disputes, and child support matters.