There are lots of things to do in Colorado, but you can’t ignore the cost of living in Colorado. Because Colorado has been ranked as one of the top 10 expensive states to live in by the United States & World Report. People working with a good salary package can easily move to Colorado. It is a state located in the Mountain West subregion of the Western United States. The state of Colorado is popularly famous for the Colorado River, outdoor activities and landscape, Vail, Aspen, and Ski resort, the Mile High city, and many more. Here we will see the cost of living in Colorado, let’s get started then.
What Is The Cost Of Living In Colorado?
The cost of living in Colorado is 121.1 as compared with the national cost of living in the United States. While the growing population of the state, its demand for housing, goods, and services is expected to go up. Let’s break down the exact cost of living in the state of Colorado for each main category. Here is the table that will give you the average cost of living in Colorado as compared with the national living cost. If the amount is less than 100, it means the cost of living in Denver Colorado is more and if the amount is more than 100 means the cost of living in Colorado Springs is more.
| Cost Of Living For | Colorado | USA |
|---|---|---|
| Housing | 166.1 | 100 |
| Grocery | 100.7 | 100 |
| Transportation | 106.7 | 100 |
| Utilities | 98.4 | 100 |
| Health | 95.8 | 100 |
| Miscellaneous | 100.2 | 100 |
| Median Home Cost | $488,600 | $291,700 |
| Overall | 121.1 | 100 |
Home Rent
The cost of living in the different cities in Colorado, including the cost of living in Greeley Colorado, the cost of living in Broomfield Colorado, and the cost of living in Littleton Colorado increase due to higher house rents. Here are the approximate rent for one and two-bedroom houses in different cities in Colorado.
| City | Approx 1 Bedroom Rent | Approx 2 Bedroom Rent |
|---|---|---|
| Denver | $1605 | $2000 |
| Colorado Springs | $1830 | $2135 |
| Durango | $922 | $2263 |
| Loveland | $1559 | $2502 |
| Longmont | $1866 | $3070 |
| Pueblo | $1190 | $2134 |
| Boulder | $1971 | $2733 |
| Vail | $950 | $1800 |
| Aurora | $1832 | $2751 |
| Littleton | $1868 | $2992 |
| Greeley | $1125 | $1024 |
| Broomfield | $1573 | $2658 |
Food Cost
The food cost in Colorado is not mixed and its changes as per different cities and locations. The cost of living in Durango Colorado, the cost of living in Loveland Colorado, and the cost of living in Pueblo Colorado are higher due to expensive food costs. In the state of Colorado, the average cost of food for a single person is $549 and for a family of four people, it is $1423. Here is a table showing the cost of living in different cities in Colorado, including the cost of living in Vail Colorado, the cost of living in Longmont Colorado, the cost of living in Boulder Colorado, and the cost of living in Aurora Colorado.
| City | Approx Dinner Cost For 2 |
|---|---|
| Denver | $45 |
| Colorado Springs | $28 |
| Durango | $32 |
| Loveland | $75 |
| Longmont | $125 |
| Pueblo | $30 |
| Boulder | $34 |
| Vail | $60 |
| Aurora | $45 |
| Littleton | $109.9 |
| Greeley | $ |
| Broomfield | $ |
Travel Cost
When you see the cost of living in Colorado vs California, you will find Colorado is cheaper than California. Because the average cost of living in Colorado per month is lower than that of California. In Colorado, the average cost of transportation for a single person is $82.6 and for a family of four people, it is $219.
Other Expenses
Next to house costs, food costs, and travel costs, there are lots of other expenses, let’s know it.
Health Care
The average cost of healthcare is around $356 for a single person. The residents of Colorado put a lot of emphasis on being outside and staying active. They are very health conscious in every aspect, from food to exercise, hobbies, and even therapy.
Utility Bills
Another factor for determining the cost of living in Colorado is utility bill costs. The average monthly utility bill in the state of Colorado is $241, putting it somewhere in the middle of the peak. So, the average monthly cost of living in Colorado Springs is not more expensive and also not cheaper. You need to earn a bulky salary to live comfortably in Colorado.
Internet Bills
The cost of living in Lakewood Colorado is affordable due to the affordable cost of the internet. But, it also goes up if you buy high-speed internet. So, the highest cost of living in Colorado is $5,390,937.
Fitness
The cost of fitness totally depends upon you, if you want to save some money, then you can start doing exercise yourself.
Entertainment
The cost of Entertainment is not fixed and varies as per the location. It depends on you, if you focus more on free entertainment places, then you can save some money.
Taxes
The cost of living in Denver, Colorado for a single person is more because it is no matter how little, or how much money you make, you will be taxed 4.50% of your income. And also there is a sales tax of 2.9%, also many cities add their own sales tax on top of this amount.
On Whatisss You Can Get To Know More Facts Like These.
FAQ
Is Colorado Expensive To Rent?
Median one-bedroom rent is $1,760 and two-bedroom rent is $2,280, according to Zumper’s latest rent report.
What Is Colorado Minimum Wage?
Federal minimum wage is currently $7.25 per hour, which is lower than the 2022 Colorado state minimum wage of $12.56. Therefore, based upon current information, covered employers in Colorado will have to pay their employees the higher value of $12.56 per hour under Colorado law beginning January 1, 2022.
Is Colorado A Right To Work State?
Colorado is a modified right-to-work state, with the most progressive labor law in the country. The Colorado Labor Peace Act requires two elections and approval from 75 percent of a company’s workers before becoming unionized.
How Can I Buy A House With Low Income In Colorado?
You can also explore options from the Colorado Housing Assistance Corporation, which offers low-interest loans for low- and moderate-income borrowers to help cover the down payment and closing costs. These loans are second mortgages and typically require monthly payments.
Is It Cheaper To Live In Colorado Or California?
While the overall cost of living index in Colorado is over 30% higher than the national average, it’s still almost 40% cheaper than in California.
Conclusion
While reading this article you come to know about the cost of living in the state of Colorado, as well as its different cities. Colorado is one of the great states with amazing cities to live in, but there is also a great cost of living. So, after reading this article, you may never forget about the cost of living in Colorado.
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