Cost of Living in Parker, CO

With a cost of living index of 147, Parker, CO is one of the most expensive cities in the United States. Living here is 47% more expensive than the national average and 33% above the Colorado state average of 114. With a population of 60,115, Parker is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Parker's cost of living. The median monthly rent is $1,973 (50% above the US median of $1,319), and the median home value sits at $613,200 (101% above the national median of $304,900). At current prices, the median home costs roughly 4.7x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Parker is $129,342, which is 72% higher than the national median of $75,149. Residents spend roughly 18% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

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.