Cost of Living in Hotchkiss, CO

With a cost of living index of 92, Hotchkiss, CO is slightly more affordable than average. Living here is 8% cheaper than the national average and 22% below the Colorado state average of 114. Hotchkiss is a small community of 1,147 residents.

Housing costs are the biggest factor in Hotchkiss's cost of living. The median monthly rent is $1,147 (13% below the US median of $1,319), and the median home value sits at $265,500 (13% below the national median of $304,900). At current prices, the median home costs roughly 4.6x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Hotchkiss is $58,125, which is 23% lower than the national median of $75,149. Residents spend roughly 24% 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.