Colorado Yearly Expenses by Quarter

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FAQ

The current budget cycle, fiscal year 2022, runs from July 1, 2021 through June 31, 2022. As of November 2021, the total initial appropriations for FY 2022, inclusive of operating appropriations minus reappropriations plus capital construction appropriations, are estimated to be $34,632,958,735.

The average cost of living in Colorado is about 7% higher than in the average U.S. city. So it's a little expensive to live in Coloradoespecially if you pick a big city like Denver or Colorado Springs.

In FY 2020-21, the state budget totals about $36.5 billion. Of the $36.5 billion, $12.5 billion is from the General Fund, which supports basic state-funded services, such as K-12 education, prisons, courts, and public assistance. Most of the General Fund revenue comes from income and sales taxes.

As the average rent price for a one-bedroom apartment in Denver, Colorado is $1,483 per month, a resident should earn at least $4,449 monthly in pre-tax income to live comfortably.

Bottom line: The average cost of living in Colorado in 2021 is $5,598.53 and this number continues to climb every day.

The state is now in the top 10 most expensive states in which to rent. According to the QuoteWizard analysis of apartment data, a single bedroom in Colorado costs an average $1,359 per month, sandwiched in between the average cost of a one-bedroom apartment in Virginia ($1,357) and Massachusetts ($1,399).

Colorado's combined state and local general revenues were $58.9 billion in FY 2019, or $10,235 per capita. National per capita general revenues were $10,563.

For a single person, the average cost of living in Denver Colorado is $2,061 per month. That figure jumps to $4,703 for a family of four.

Colorado is an expensive state, so in order to live comfortably in any city in the state, you need to make over $100,000 annually.

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Colorado Yearly Expenses by Quarter