Our cost of living indices are based on a US average of 100. An amount below 100 means Colorado is cheaper than the US average. Colorado cost of living is 121.1.
|COST OF LIVING||Colorado||United States|
|Median Home Cost||$384,000||$231,200|
Living Wage Calculation for Denver County, Colorado
|1 ADULT||2 ADULTS (BOTH WORKING)|
|0 Children||1 Child|
How much do you need to earn to live in Colorado? According to data from HowMuch.net, in order to comfortably afford to live in any city in Colorado, you have to earn a whopping $100,200 yearly salary. This works out to earning between $6,000 -8,300 per month.
Classic supply and demand models combined with the fact that there is a finite amount of land and builders can’t keep up have caused real estate prices to skyrocket. This population creates a housing shortage and drives prices up. This is the unfortunate side effect of Colorado’s great success.
A new report from GOBankingRates.com ranks the 50 most populous cities in the U.S. by how much money would be left from a $100,000 salary after subtracting necessary expenses such as taxes, groceries, rent, utilities, healthcare and driving costs. Denver ranks in the bottom 15, according to the report.
Colorado Average While ZipRecruiter is seeing salaries as high as $127,769 and as low as $19,259, the majority of salaries within the Average jobs category currently range between $46,504 (25th percentile) to $69,521 (75th percentile) with top earners (90th percentile) making $84,553 annually in Colorado .
The group estimates a family of two adults and two children in Denver County would need to earn a combined $92,426 per year — or $7,702 a month — to live comfortably. Screenshot of Economic Policy Institute’s 2018 family expenses calculator in Denver.
One of the cheapest places to live in Colorado , based on median home price, is Trinidad. It is located in southern Colorado near the border of New Mexico. With a population of only 8,200 residents, Trinidad is a friendly city that offers small town living . The views and nature near Trinidad are incredible!
While the cost of living in Colorado is 31% higher than the national average it is still 35-40% cheaper than California . The price of new homes is higher than other states but rental prices are quite affordable and utility costs are much lower.
10 Most Affordable Places to Live in Colorado Federal Heights . Topping the list of the most affordable city in Colorado is Federal Heights , a suburb of Denver . Lamar. Quiet and rural, Lamar is a wonderful city for families with a variety of parks and a strong sense of community. Brush. Fort Morgan. Sterling. Trinidad . Pueblo . Clifton.
Utah is more affordable than neighboring state Colorado but offers similar climate and access to stunning mountains.
2 In 2016, the statewide median income was $59,000 across all family types, implying that to be middle class , a family must have earned between $38,900 and $118,000 that year.
For those of us normal folks, building a home just is not in the budget. It is much cheaper to buy an existing home than to pay for construction. If you have had any experience in building, you know that the project will always cost more than you think.
|Milk (regular), (1 gallon )||3.27$|
|Loaf of Fresh White Bread (1 lb)||2.40$|
|Rice (white), (1 lb)||1.49$|
|Eggs (regular) (12)||2.24$|