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Colorado Yearly Expenses
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Multi-State
Control #:
US-175-AZ
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Word;
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FAQ
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 more recent data, the average annual salary in Colorado is roughly $62,000 per year. This could mean you are able to pay most of your bills but doesn't leave much room for discretionary income. Bottom line: The average cost of living in Colorado in 2021 is $5,598.53 and this number continues to climb every day.
Colorado has been ranked as one of the top 10 most expensive states to live in by U.S. News & World Report. This is mainly due to the fact that housing in Colorado is 34% more expensive than the rest of the United States. You can expect to pay about $1300 per month for rent or $1,750 for a mortgage.
10 Most Affordable Places to Live in ColoradoFederal Heights. Topping the list of the most affordable city in Colorado is Federal Heights, a suburb of Denver.Lamar.Brush.Fort Morgan.Sterling.Trinidad.Pueblo.Clifton.More items...?09-Jan-2019
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.
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. In these more affordable cities, you can likely get away with a lower salary.
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 homes have skyrocketed in value especially in highly sought after areas such as Denver, Boulder, and Colorado Springs. These home values have increased due to a variety of factors from the growing population, lower interest rates, and builders focusing on luxury homes.
