Colorado offers something for everyone, from wide-open spaces with breathtaking nature and exceptional outdoor recreation to bustling cities complete with craft beer and entertainment. In fact, we had a pretty hard time picking the best places to live in Colorado because there are so many wonderful cities to call home. Before you pack your bags and prepare for a move, you’ll want to know about the cost of living in Colorado. Since Colorado is such a large state, transportation, groceries, and rent costs can depend significantly on where you live. Find out what you need to know about the cost of living in Colorado when you’re looking for your dream place to rent in this remarkable state.
Cost of Living in Colorado at a Glance
- Average cost of a one-bedroom apartment for rent in Colorado is $1,770 per month
- Average cost of utilities in Colorado is $142.96 per month
- Average annual salary in Colorado is $65,777
- Cost of living in Colorado is 20% than in Texas (Denver, CO, compared to San Antonio, TX)
The cost of living in Colorado is 21.8% higher than the national average. Colorado residents can expect to pay 45% more for housing. However, Colorado residents may save on things like utilities and food costs.
While the average cost of living in Colorado depends on exactly where you settle in the state, you can generally look forward to efficient utility costs coupled with high wages and a healthy economy. If you’re looking at the Colorado cost of living compared to other states, you’ll find costs close to national averages in many categories but much less than cities on the East and West coasts of the United States. What’s one undeniable benefit of living in the Centennial State? The Colorado standard of living offers something for everyone.
According to Colorado’s Office of Economic Development and International Trade, the cost of living in Colorado is:
- 12% above the national average overall
- 1.6% below the national average for utilities
- 6.7% above the national average for transportation
- At the national average for groceries
- 4.2% below the national average for health care
As one of the largest U.S. states in terms of square miles, you have plenty of areas to cover if you’re looking to make your home in Colorado. You’ll find an expansive cost of living range throughout the state as a result.
Colorado housing costs
Housing costs are one significant reason the cost of living in Colorado is relatively high compared to other states. The median home prices in Colorado are $600,00 compared to the national average of $378,104. The same goes for renters, who can pay more than 11% more each month for a two-bedroom apartment than the national median.
Don’t let these figures deter you from renting in this beautiful state. You can find prices to fit any budget if you look across the state. For example, while the average one-bedroom apartment in Denver commands monthly rent at about $1,700, the average monthly rent for a one-bedroom apartment in Grand Junction, a large Western Slope city and wine hub, is lower at $925 per month.
The cost of living in Colorado also significantly varies, depending on location. Denver, Colorado, residents pay almost 21.8% more for the cost of living than the rest of the state.
Colorado utility costs
Even if you pay more for housing in Colorado than you would in other places in the United States, you’ll likely offset these costs thanks to Colorado’s budget-friendly utilities. Depending on where you find your Colorado address, you can look forward to costs for phone use and energy bills from 3% to 23% lower than the average city. The cost of utilities in Colorado is an average of $142.96 per month. Even if your utility bills are in the higher end of the spectrum for Colorado, you’ll still pay less on average than many other places in the country.
Colorado transportation costs
The cost of transportation in Colorado is higher than the national average. This includes the cost of buying a car, insurance, and registration. However, as with any other cost of living categories, you can find a range of transportation costs throughout the state. Figures come in about 7% higher than the national average in Grand Junction on one end of the spectrum and about 10% lower in Glenwood Springs.
Colorado grocery costs
Grocery prices in Colorado can vary depending on where you live. While the figures are about on par with the national average when you consider the state as a whole, prices fluctuate throughout this state. For example, you’ll find grocery costs about 9% higher than the national average in Grand Junction but about 9% lower in Westminster. In total, Colorado residents can expect to pay 5% lower for food costs than the rest of the country.
Colorado healthcare costs
Health care is another area where you’ll find a range of costs. On the high end of the spectrum is Glenwood Springs, where you can expect health care costs around 5.13% higher than the national average. On the lower end is Pueblo, where residents enjoy health-care costs about 7% lower than the national average. Life in Denver comes with health-care costs around the average of Colorado cities and about 4% higher than the average nationally. When calculating the average of the whole state of Colorado, health care costs are around 2% higher than the national average.
Other costs to expect in Colorado
Of course, you’ll have to pay for plenty of other items in your daily living, such as clothing, restaurant outings, entertainment, and personal care. These miscellaneous costs can also span a range depending on where you live in the state.
You have Denver, with miscellaneous costs coming in around 7% higher than the national average, on the higher end. Pueblo represents the lower end, with costs around 4% less than the national average. Glenwood Springs offers a representative snapshot of many Colorado cities. Here you can expect miscellaneous expenses at only about 2% more than what you’d find on average compared to the rest of the United States.
How to find affordable cost of living in Colorado
Understanding the cost of living in Colorado is your first step when you’re planning a move. Whether you’re searching for city life near the great outdoors or a town that gives you constant access to nature, Colorado is a spectacular place to call home. While you’ll often hear Colorado and expensive housing mentioned in the same breath, don’t let any misconceptions stop you from exploring all the state has to offer. Not only will you find a variety of cities with lower rental prices, but you’ll also balance your rent with inexpensive utilities and other costs.
Don’t let these figures deter you from renting in this beautiful state. You can find prices to fit any budget if you look across the state. For example, while the average one-bedroom apartment in Denver commands monthly rent at about $1,750, the average monthly rent for a one-bedroom apartment in Grand Junction, a large Western Slope city and wine hub, is only slightly more than $950.
FAQ: Colorado cost of living
The salary you need to feel comfortable living in Colorado depends on many factors, including the city, monthly costs, and the size of your family. Some people recommend an average salary of $100,200 to afford the cost of living in Colorado.
The Colorado city with the cheapest cost of living is Pueblo, where you can find apartments for under $1,000 per month.
The most expensive city in Colorado is Denver, where apartments are an average of $1,745 per month.
Ready to call Colorado home? Search thousands of apartments and houses for rent on Zumper and find your dream home.
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