Cost of Living in Ouray, CO

With a cost of living index of 110, Ouray, CO is somewhat more expensive than average. Living here is 10% more expensive than the national average and 4% below the Colorado state average of 114. Ouray is a small community of 1,031 residents.

Housing costs are the biggest factor in Ouray's cost of living. The median monthly rent is $962 (27% below the US median of $1,319), and the median home value sits at $549,200 (80% above the national median of $304,900). At current prices, the median home costs roughly 7.2x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Ouray is $76,458, which is 2% higher than the national median of $75,149. Residents spend roughly 15% 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.