Cost of Living in Alma, CO

With a cost of living index of 131, Alma, CO is a notably expensive place to live. Living here is 31% more expensive than the national average and 16% above the Colorado state average of 114. Alma is a small community of 242 residents.

Housing costs are the biggest factor in Alma's cost of living. The median monthly rent is $2,083 (58% above the US median of $1,319), and the median home value sits at $370,000 (21% above the national median of $304,900). At current prices, the median home costs roughly 7x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Alma is $52,727, which is 30% lower than the national median of $75,149. Residents spend roughly 47% of household income on rent. This is well above the 30% affordability threshold, indicating a significant housing cost burden for many residents.

Everyday prices in the Denver-Aurora-Centennial, CO (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.