6/20/2023 0 Comments Family of 5 average grocery bill![]() Before making the move, consider the total cost of living compared to where you currently live and how that impacts your budget. There is plenty to do in Denver and throughout the state and the weather is full of sunshine for most of the year. You may find some of the amenities you’re looking for in either a destination, with the ski towns or with a big city like Denver without having to pay the costs of larger cities. Moving to Colorado, as many people have over the past two decades, can be rewarding. Breckenridge Resort is priced at $109 and a three-day pass at Steamboat will run you over $300. One of the cheapest day passes is for Arapahoe Basin at $85. Prices of lift tickets vary among Colorado resorts. We all know that skiing can be a pricey pastime. ![]() Miscellaneous Cost of Living FactsĬolorado is famous for its ski slopes and ski towns. This points to healthcare being extremely affordable and accessible throughout the state, as well as Colorado being home to many businesses offering strong healthcare benefits to their employees. ![]() The average Colorado employee annually contributes about the national average for single coverage healthcare. A report from the Agency for Healthcare Research and Quality has Colorado ($4,428) which is significantly below the national average of $7,739. No property tax revenue goes to Colorado’s state government. The money Coloradans pay in property taxes stays within their county of residence. The Centennial State has an average effective property tax rate of just 0.57%. Here’s some good news for homeowners: Colorado’s property tax rates are some of the nation’s lowest. There are also application and licensing fees for medical and retail marijuana sales that may apply. In case you were wondering, marijuana, whether medical or recreational, is subject to the 2.9% state sales tax plus any applicable local sales taxes, as well as an additional 15% sales tax and a 15% marijuana excise tax. At a city level, sales tax can get as high as 10.40% (in the small ski town of Snowmass Village). The base sales tax rate in Colorado is 2.9%, though many cities add their own sales taxes on top of it. That’s great if you’re rich, but not so great if you’re on the lower end of the income scale. The income tax rate in Colorado is 4.63% regardless of income level. ![]() A month of access will cost you $114 or $200 depending on whether you want local or regional service.Ĭolorado is a flat-tax state. Public transportation is available in Colorado’s Regional Transportation District, with bus, rail and light rail service to Denver, Boulder and nearby cities. In Fort Collins, drivers pay an average of $3.53 per gallon. In Denver, though, gas averages $3.43 per gallon. Transportation CostsĪccording to May 2019 data from GasBuddy, the average price of a gallon of gas in Colorado is $3.53. Overall, this is more affordable than states with access to similar amenities as Colorado. This percentage raises slightly for a family with two working adults and two children, as 13.6% of their income is spent on food. Of that income, MIT estimates that $3,999 will be spent on food, which makes up 9.4%. MIT’s Living Wage Calculator places the annual living wage of a single adult with no children in Colorado at $42,241. You can expect the total utility costs to average out at around $371 per month throughout the state. For further reference, the average across the country for energy is $2,451 per year. As a result, the average Colorado monthly bill is $142, or $1,704 per year. Energy Information Administration (EIA), residents of Colorado consume much less energy than the U.S. Cost of Utilities in ColoradoĪccording to a report from the U.S. For Denver, the average one-bedroom cost is going to be $1,483 per month to rent while a two-bedroom costs, on average, $1,817 per month. The costs are going to depend on where you live, though. The average rent for an apartment in Colorado stands at $1,994 per month. Under 41% of Colorado, residents choose to rent, as renting in the state is slightly more expensive than in the rest of the country. As of the end of 2022, the median home value in the state stands at $580,275. Colorado homes have appreciated 10.5% over the last year. Home values in Colorado took a serious dip after the recession but they’ve since rebounded. ![]() Hearing “Colorado” conjures up visions of beautiful ski chalets and cabins in the mountains. ![]()
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