Boulder was like this when I was in college there, well before Google existed. They always capped growth at a ridiculously low percentage because of all the NIMBY behavior.
Housing in the surrounding suburbs of Denver would easily be less than 1/4 the price. Most people who worked in Boulder commuted from a nearby suburb even back then. Thankfully it was the only the city in the area to pick up on NIMBYism, unlike the Bay Area.