Cost of Living in Wray, CO

With a cost of living index of 80, Wray, CO is a very affordable place to live. Living here is 20% cheaper than the national average and 34% below the Colorado state average of 114. Wray is a small community of 2,305 residents.

Housing costs are the biggest factor in Wray's cost of living. The median monthly rent is $909 (31% below the US median of $1,319), and the median home value sits at $205,900 (32% below the national median of $304,900). At current prices, the median home costs roughly 3.6x the median household income — a moderately affordable ratio by today's standards.

The median household income in Wray is $57,318, which is 24% lower than the national median of $75,149. Residents spend roughly 19% 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.