cost of living in denver colorado

What Is The Cost Of Living In Denver Colorado? 

Want to know the cost of living in Denver Colorado? You are at the right place. Recently, it seems like everyone wants to move to the city of Denver located in the state of Colorado, United States. Whether it is for the weather, the mountains, or the culture of the city. With its breathtaking scenery and booming job market, it is no wonder you may be considering a move to the mile-high city. Denver Colorado is one of the fastest-growing cities in the state. Also, it is the capital city of the state. Let me tell you the cost of living in Denver Colorado.  

What Is The Cost Of Living In Denver?  

The cost of living in Denver Colorado is 128.7, which is 28.7% more than the average national cost of 100. Also, there is a different average percentage of living costs, it is because Denver city is a diverse city with housing prices that differ from one neighborhood to another. The table given below will give you the average cost of living in Denver Colorado as compared with the national cost of living. If the amount of cost of living in Dever, Colorado for a single person exceeds 100, it means Dever is expensive. 

Cost Of Living For DenverUSA 
Housing 184.3100
Grocery 101.9100
Transportation 116.1100
Utilities 96.2100
Health 92.5100
Miscellaneous 102.8 100
Median Home Cost $534,100$ 291,700
Overall 128.7100

Home Rent 

The cost of living in Denver Colorado apartment is another factor that has a strong contribution to the cost of living. So, take a Denver cost of living calculator and calculate the values of housing in the city. The average cost of a home in the city is a high $426,200. This is much higher than the average housing cost in the State of Colorado. In Colorado, it is $231,200, which is 84% less than Denver’s cost of housing. 

City Approx 1 Bedroom Rent Approx 2 Bedroom Rent 
Colorado Springs $1830$2135
Durango $922$2263
Loveland $1559$2502
Longmont$1866$3070
Pueblo $1190$2134

Food Cost 

Next to house rent, food cost is also one of the bigger factors in the cost of living. So, here in Denver, the cost of food is not fixed and changes with the area. Because the city of Denver is a diverse city. Here, you can buy a gallon of milk for $3.19, a dozen eggs for $2.45, and a pound of bananas for $0.67. Here is a table given, that will tell you the approximate cost of dinner for two persons. 

City Approx Dinner Cost For 2 
Colorado Springs $28
Durango $32
Loveland $75
Longmont$125
Pueblo $30

Travel Cost 

In the city of Denver there are so many options for travel, including public transport, locals, buses, trains, personal vehicles, etc. if you prefer owning a car, then be ready to pay $4,900 per year. Instead of owning a car, you can travel by buying a monthly pass for just $114. It is less while seeing the cost of living in Denver Colorado vs Washington DC

Other Expenses 

Here are the remaining expenses, you should know them. Because these expenses also have a great contribution to your cost of living. 

Health Care 

The cost of living in Denver Colorado for a single person is more because Denver has an average cost of healthcare of 6% more than the national healthcare cost. The average visit to a doctor will cost you around $116.58, which is expensive. 

Utility Bills 

Here, you can save some money because your average cost of living in Colorado is going to decrease due to lower utility bills. The cost of living in the city for utilities is 20.2% cheaper than the national average. 

Internet Bills 

In any state the cost of Internet changes as per providers and speed, and data. Here, the average cost of living in Colorado Springs for the internet is $71 per month.  

Fitness 

If you want to save some money, then you can do your daily exercise yourself. In Denver, there are $43 membership charges for a single person for a month. 

Entertainment 

When you see Denver cost of living vs San Francisco or the cost of living in Colorado Springs vs Denver, you can not predict the exact cost of entertainment. Because the cost of entertainment completely depends on you. In Denver, movie tickets cost just $12.50. 

Taxes 

Whether you see Denver cost of living vs Nyc or Denver cost of living Vs Chicago, every state or city has some taxes. You earn less or more, you need to pay them. Here in Denver, the state tax is 4.63% while Denver shares a monthly flat $5.75 to residents who earn over $500 a month. In addition to these two taxes, there is another tax of 7.65% called sales tax. 

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FAQ

Is It Expensive To Live In Denver Colorado?

The cost of living in Denver, CO is 8% higher than the state average and 12% higher than the national average. Denver, CO housing is 37% more expensive than the U.S average, while utilities are about 18% less pricey.

What Salary Do You Need To Live Comfortably In Denver?

In Denver, where the median income is just shy of $39,000, residents need to make about $110,000 to comfortably own a home or a little over $100,000 to rent. The city has one of the largest gaps between median income and income needed to live comfortably.

What Is Denver Minimum Wage?

Starting next year, Denver will join a few dozen cities across the country with a minimum wage above $17 an hour. Details: The city’s minimum hourly wage currently sits at $15.87, but will rise to $17.29 starting Jan. 1, 2023.

Is It Cheaper To Live In Colorado Or California?

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.

Conclusion 

Now, you can prepare your expenditure, before moving to Denver Colorado, this article will immensely help you. No doubt that Denver city is a little bit costlier than the national average but, believe me, it will provide a very beautiful and comfortable life. If you have a strong will, then you can move to Denver, but a condition is once read about the cost of living in Denver Colorado

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