Cost of Living in Otis, CO

With a cost of living index of 74, Otis, CO is one of the most affordable cities in the country. Living here is 26% cheaper than the national average and 40% below the Colorado state average of 114. Otis is a small community of 582 residents.

Housing costs are the biggest factor in Otis's cost of living. The median monthly rent is $875 (34% below the US median of $1,319), and the median home value sits at $151,400 (50% below the national median of $304,900). At current prices, the median home costs roughly 2.9x the median household income — well within traditional affordability guidelines.

The median household income in Otis is $52,237, which is 30% lower than the national median of $75,149. Residents spend roughly 20% 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.