Cost of Living in Montrose, CO

With a cost of living index of 99, Montrose, CO is right around the national average in cost. Living here is 1% cheaper than the national average and 15% below the Colorado state average of 114. Montrose is a smaller community of 20,703 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Montrose's cost of living. The median monthly rent is $1,117 (15% below the US median of $1,319), and the median home value sits at $359,000 (18% above the national median of $304,900). At current prices, the median home costs roughly 5.7x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Montrose is $63,177, which is 16% lower than the national median of $75,149. Residents spend roughly 21% 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.