Olney Springs, CO vs Parachute, CO

There is a significant gap in the cost of living between these two cities. Olney Springs is 15.3% cheaper than Parachute. With a cost index of 73 vs 86, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Olney Springs to Parachute should plan for substantially higher expenses across most categories.

On the housing front, median rent in Olney Springs is $975/month compared to $1,050/month in Parachute — a 7% difference. Home values follow the same pattern: Olney Springs is more affordable at $98,700 median vs $269,500.

Median household income in Olney Springs is $52,031 compared to $58,910 in Parachute (-11.7%). The higher salaries in Parachute partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Olney Springs spend roughly 22.5% of their income on rent, more than the 21.4% in Parachute.