Cost of Living in Colorado

Colorado has a cost of living index of 114, making it 14% more expensive than the national average. The statewide median household income is $88,558 (18% above the US median of $75,149). Across 408 cities tracked in Colorado, costs vary widely depending on location, proximity to metro areas, and local housing markets.

Housing drives most of the variation. The average median rent across Colorado cities is $1,401/mo (6% above the national median of $1,319), and the average median home value is $455,149 (49% above the national figure of $304,900). There is a 169-point spread between the most affordable city, La Junta (index 72), and the most expensive, Cherry Hills Village (index 241) — an enormous range that reflects dramatic differences in housing markets within the state.

When evaluating Colorado, it helps to look beyond the state average. Individual city costs can deviate significantly — use the map and rankings below to compare specific locations.

The largest cities in Colorado by population are Denver (index 139, pop. 713,734), Colorado Springs (index 116, pop. 483,099), Aurora (index 127, pop. 390,201), Fort Collins (index 129, pop. 169,705), and Lakewood (index 135, pop. 156,309). All of these major cities are above the state average, a pattern common in states where metro areas drive up costs relative to rural communities.

Data: US Census Bureau (ACS 2023), Zillow, HUD, BEA Regional Price Parities. Updated monthly.