Cost of Living in Fort Garland, CO

With a cost of living index of 82, Fort Garland, CO is a very affordable place to live. Living here is 18% cheaper than the national average and 33% below the Colorado state average of 114. Fort Garland is a small community of 426 residents.

Housing costs are the biggest factor in Fort Garland's cost of living. The median monthly rent is $871 (34% below the US median of $1,319), and the median home value sits at $239,600 (21% below the national median of $304,900). At current prices, the median home costs roughly 8.1x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Fort Garland is $29,750, which is 60% lower than the national median of $75,149. Residents spend roughly 35% 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.