Cost of Living in Grand Lake, CO

With a cost of living index of 89, Grand Lake, 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. Grand Lake is a small community of 316 residents.

Housing costs are the biggest factor in Grand Lake's cost of living. The median monthly rent is $810 (39% below the US median of $1,319), and the median home value sits at $358,300 (18% above the national median of $304,900). At current prices, the median home costs roughly 3.6x the median household income — a moderately affordable ratio by today's standards.

The median household income in Grand Lake is $100,625, which is 34% higher than the national median of $75,149. Residents spend roughly 10% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.