Cost of Living in Cheraw, CO

With a cost of living index of 75, Cheraw, CO is one of the most affordable cities in the country. Living here is 25% cheaper than the national average and 40% below the Colorado state average of 114. Cheraw is a small community of 211 residents.

Housing costs are the biggest factor in Cheraw's cost of living. The median monthly rent is $1,022 (23% below the US median of $1,319), and the median home value sits at $97,900 (68% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in Cheraw is $38,542, which is 49% lower than the national median of $75,149. Residents spend roughly 32% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.