Cost of Living in Idaho Springs, CO

With a cost of living index of 108, Idaho Springs, CO is somewhat more expensive than average. Living here is 8% more expensive than the national average and 6% below the Colorado state average of 114. Idaho Springs is a small community of 1,968 residents.

Housing costs are the biggest factor in Idaho Springs's cost of living. The median monthly rent is $1,175 (11% below the US median of $1,319), and the median home value sits at $434,900 (43% above the national median of $304,900). At current prices, the median home costs roughly 5.1x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Idaho Springs is $85,450, which is 14% higher than the national median of $75,149. Residents spend roughly 17% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Denver-Aurora-Centennial, CO (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.