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Top 10 Cheapest places to live in Colorado with the Best quality of life – 2023

Last updated on: August 2, 2023

The state of Colorado is a popular destination for people looking to relocate. The state has a lot of beautiful landscapes with mountains, valleys, forests, and plains. Colorado has a lot to offer to its residents, including a high quality of life, affordable housing options, and a low cost of living. It is one of the most popular places to live in the US.

From mortgages to everyday prices, the state’s cost of living is a major factor in determining whether you want to settle there. Nevertheless, if you decide to move to Colorado, you’ll find cities with affordable costs of living and great quality of life. Read on to discover the top 10 cheapest places to live in Colorado! While these cities may not be the biggest or most popular, they have been chosen based on their quality of life.

Methodology

We based our ranking on the 3 following criteria: the average housing prices (house and apartment prices) and the average cost of living. Statistics come from the Council for Community and Economic Research (C2ER).

To support our ranking, we thought it would be relevant to compare the statistics of the cities concerned with the rates of the State of Colorado: the average renting price in Colorado is $1,977, while the average price for a home in Colorado is $569,952 in 2023. We’ve used this data to rank the 10 cheapest cities in America while also considering their quality of life (health, pollution, green space and recreation, climate, education, and employment opportunities).

(*Rent.com & Zillow)

1. La Junta

Home of Royal Gorge Park

Population: 7,298
Average monthly cost of living: $1,600

La Junta is a small town in the southeastern part of Colorado and ranked as the cheapest place to live in Colorado. It is a great place for people who love the outdoors. There are many trails and parks that you can explore, such as the Royal Gorge Park, which has multiple activities for everyone to enjoy. You can even actively go fishing in one of the many lakes or rivers close by.

The cost of living in La Junta is 59% lower than the state’s average. If you’re looking to buy a home, the average home price is $107,200 (59% lower than the Colorado average). The average rental price for an apartment in La Junta is $850 per month, which is 57% lower than the rest of Colorado.

(*AreaVibes & realtor.com)

La Junta, Colorado

2. Sterling

Best for outdoor activities

Population: 13,739
Average monthly cost of living: $1,495

With a low rate of 0.63 violent crimes per 1,000 population, Sterling has been ranked as one of the safest places to live in Colorado. Moreover, the city has great schools for all ages and offers many outdoor activities for families/individuals who want to enjoy nature.

The cost of living in sterling is 61.52% lower than Colorado’s average, whereas the average price to own a house is $193,144 (66.11% lower than the Colorado average). If you are looking to rent a home, the average rent for an apartment is $743, which is 62.41% lower than the rest of the state.

(*FBI & National Incident-Based Reporting System, AreaVibes & realtor.com)

Sterling, Colorado

3. Trinidad

Easy access to outdoor activities

Population: 8,335
Average monthly cost of living: $3,116

Trinidad is a small town about 120 miles from Colorado Springs. It is a wonderful place to live thanks to its thriving community, easy access to outdoor activities, and beautiful views of Pikes Peak. The location of Trinidad makes it an ideal spot for people who love outdoor activities but still want access to city amenities.

The cost of living in Trinidad is 20% lower than the Colorado average. If you are looking to buy a home, the average price is $229,000, which is 60% lower than the average price in the rest of the cities in Colorado. Moreover, you can find an apartment in Trinidad for about $1,115 per month.

(*AreaVibes & realtor.com)

Trinidad, Colorado

4. Pueblo

Home of Colorado State Fairgrounds

Population: 112,368
Average monthly cost of living: $1,802

Pueblo is a city of about 112,000 people located about 60 miles south of Denver. It is home to a number of attractions, including the Colorado State Fairgrounds. Residents enjoy outdoor activities such as fishing, hunting, and boating on the Arkansas River.

The cost of living in Federal Heights is 54% lower than the Colorado average.

To buy a home, the average price is $249,800 (56% lower than the Colorado average), whereas if you want to rent an apartment, the average price is $1,400 which is 29% lower than the rest of Colorado.

(*AreaVibes, zumper & realtor.com)

Pueblo, Colorado

5. Cañon City

Best for recreational opportunities

Population: 17,363
Average monthly cost of living: $1,956

If you are looking for a cheap place to live in Colorado, Cañon City is the best place for you. It offers a great quality of life and has many outdoor activities to keep yourself busy. The Rocky Mountains are a unique feature of Colorado’s landscape and offer abundant recreational opportunities. It also has many parks, including the Royal Gorge Park, which offers an opportunity to experience the old mining town with a lot of history. Furthermore, Cañon City has many festivals throughout the year, like the Music Fest and Art Walk Festival, which are extremely popular among locals.

The cost of living in Federal Heights is 1.36% lower than the Colorado average. If you want to buy a house, it will cost an average of $454,450, which is 20.26% lower than the rest of Colorado. On the other hand, the average rental price for an apartment is $1,236 per month.

(*AreaVibes, & realtor.com)

Cañon City, Colorado

6. Lamar

Best place for bikers

Population: 7,656
Average monthly cost of living: $3,009

Lamar is a small town in the Eastern Plains of Colorado. It’s located about an hour and a half drive away from Denver. Lamar offers plenty of outdoor activities like horseback riding, fishing, hiking, camping, hunting, and more. There are some great spots to bike or run through the beautiful countryside.

The cost of living in Lamar is 22.56% lower than Colorado’s average, whereas the average price to buy a home is $256,591 (55% lower than the Colorado average). If you are looking to rent an apartment, note that the average rent in Lamar is $993 which is 50% lower than the average rent in Colorado.

(*AreaVibes & realtor.com)

Lamar, Colorado

7. Craig

Best place for hikers

Population: 8,969
Average monthly cost of living: $3,257

Craig has some of the best places to hike, bike, and enjoy nature. The town of Craig has everything you need in close proximity including grocery stores, gas stations, schools, colleges as well as hospitals all within walking distance or a short drive. If you love the outdoors then you are in for a treat, Craig is surrounded by mountains and plenty of hiking trails that are just minutes away from your home.

The cost of living in Craig is 16% lower than the Colorado average. If you are looking to buy a home in Craig, the average price is $309,900, while the rental average price for an apartment is $1,000 per month, which is 50% lower than the Colorado average.

(*AreaVibes, zumper & realtor.com)

Craig, Colorado

8. Greeley

Major agricultural center

Population: 109,323
Average monthly cost of living: $1,652

Greeley is a city in Weld County, Colorado. It is the most populous city in the county and a major agricultural center. Greeley has many parks and trails to enjoy outdoor activities like biking or hiking. It also has many recreational activities for individuals such as cycling, golfing, skiing, and fishing.

The cost of living in Greeley is 58% lower than the Colorado average. Buying a home in Greeley will cost you an average of $405,000, this is 29% lower than the average home price in Colorado. The average rental price for an apartment is $1,482, which is 25% lower than the rest of the state and makes it one of the cheapest places to live in Colorado.

(*AreaVibes, zumper & realtor.com)

Greeley, Colorado

9. Federal Heights

Place of friendly and welcoming neighborhood

Population: 14,194
Average monthly cost of living: $3,833

Federal Heights is a small town in Colorado located at the base of the Rocky Mountains. It has a lot of activities for people to enjoy, such as fishing and hiking. Moreover, the locals are known to be very friendly and welcoming. Federal Heights is a diverse suburb of Denver and has close proximity to many stores and other necessities.

The cost of living in Federal Heights is 0.85% lower than the Colorado average. The average price to buy a home is $454,450, which is 20% lower than the Colorado average, whereas the average rental price for an apartment is $1,236 (37% lower than the Colorado average). No wonder this is one of the cheapest place to live in Colorado.

(*AreaVibes, zumper & Zillow)

Federal Heights, Colorado

10. Grand Junction

Perfect for the outdoorsy person

Population: 66,964
Average monthly cost of living: $1,690

Grand Junction is a city found in the Western part of Colorado. It is a great place to live because it has an abundance of outdoor activities and adventures for you to explore. If you are looking for a place with plenty of open space, then Grand Junction is the perfect place for you. The city offers plenty of hiking trails, biking paths, and parks that are perfect for the outdoorsy person in your family.

The cost of living in Federal Heights is 57% lower than the Colorado average. If you want to buy a home or rent an apartment the average price is $479,900 and $1,850, 16% and 6.42% lower than Colorado’s average prices.

(*AreaVibes, zumper & realtor.com)

Grand Junction, Colorado

How much mortgage can I afford in Colorado?

Mortgages given to you by a bank depend on the amount of money you earn, debts incurred, and your general living expenses. The higher mortgage you can afford, the more expensive a home you can afford to purchase.

You might want to find out how much mortgage you can afford in Colorado with this mortgage calculator based on your household income, debts, and down payment amount.

Household Income before taxes, no debts	Down Payment	Maximum Mortgage You Can Afford in America Term length: 30 years fixed Interest rate: 3.500%
$70,000	$20,000	$256,983
$100,000	$30,000	$396,668
$120,000	$40,000	$493,125

Conclusion

Colorado is a state that offers many affordable and safe places to live. It has a lot of natural beauty and is full of opportunities for people who are looking for a change in their life. The state of Colorado is home to some of the most beautiful landscapes in the world with four seasons that bring excitement and adventure for every type of individual.

The aforementioned information is incredibly useful if you are thinking about the best location for you and your family to move to. No matter what you are looking for, there is a Colorado town that will be perfect for you. Are you moving soon? Find out about the best movers in Denver, Colorado.

Last year's ranking (2022)

1. Sterling
2. Lamar
3. La Junta
4. Craig
5. Trinidad
6. Pueblo
7. Cañon City
8. Grand Junction
9. Greeley
10. Federal Heights

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The expert

Mathieu Paquette

The author of this article also acts as MovingWaldo’s booking agent. Matt, is an accomplished relocation specialist with over 6 years of experience in the industry. Matt has earned a CAM certification (Canadian Association Of Movers), Tariff Certification (Atlas Van Lines), and has an extensive business background. Before handing off everything you own, do your due diligence… or let Matt do it for you.

Provide Matt with your move criteria. He will calculate quotes from verified movers, using the same metrics. This will make it simple to compare and book your move.