Cost of Living in City of Creede, CO

With a cost of living index of 89, City of Creede, CO is a very affordable place to live. Living here is 11% cheaper than the national average and 25% below the Colorado state average of 114. City of Creede is a small community of 307 residents.

Housing costs are the biggest factor in City of Creede's cost of living. The median monthly rent is $920 (30% below the US median of $1,319), and the median home value sits at $315,400 (3% above the national median of $304,900). At current prices, the median home costs roughly 6.4x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in City of Creede is $49,375, which is 34% lower than the national median of $75,149. Residents spend roughly 22% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. 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.