Cost of living -

How Much Does It Cost to Live in Colorado in 2024?

Featured in this article

Ad

What is the average monthly cost of living in Colorado?
The average cost of living in Colorado is $2,432.43 per month.

For many people, Colorado has become one of the most desirable places to reside. The beautiful views of the city and hospitable culture of Colorado have tempted many new residents. As a result, Colorado is growing at a rapid pace. 

Between 2010 and 2020, the state’s population grew 14.8% to 5.8 million residents. This makes the square state the 7th fastest growing state in the country. 

In this article, we have covered everything you need to know before moving to Colorado. The mixture of pleasant weather, beautiful mountain views, better employment, and friendly people is the primary reason for migration. Read on to find out everything you need to know about the cost of living in Colorado!

University of Northern Colorado (Oct 2021)

Methodology

The main data collection source for this article is Numbeo for the city of Denver and trusted city-related websites, including RTD Denver and Colorado Dept. of Revenue. The costs presented are estimates and pertain to an individual living alone on a monthly basis.

Cost of Living in Colorado – 2024

Housing costs in Colorado

Colorado has more than 2.5 million housing units, so the state offers plenty of options. For the beauty that Colorado offers, the housing costs are relatively fair. Learn more below.

Cost of rent in Colorado

Area/Neighborhood

1-bed apartment

3-bed apartment

Denver (Outside of Center)

$1,645.50

$2,964.00

Numbeo (Sept 2023)

Cost of buying a property in Colorado

Area/Neighborhood

Average home price 

Colorado

$562,400

Zillow (Sept 2023)

Utility costs in Colorado: Internet, electricity and water

Whether you’re a homeowner or renting, managing utility expenses is a necessary part of living in Colorado. The state’s heating costs have recently peaked in 2023 as most households use gas. Given the cold winters, it’s crucial to budget effectively to ensure your home stays comfortably warm during the chilly months.

Utilities

Cost

Basic

(Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment

$183.72

Internet

(60 Mbps or More, Unlimited Data, Cable/ADSL)

$77.34

Total

$261.06

Numbeo (Sept 2023)

What is the average monthly cost of utilities in Colorado?
The average monthly cost of utilities in Colorado is $261.06.

Ad

Grocery costs in Colorado

Colorado is known for its health-conscious population, with many residents following various dietary preferences, including vegan and gluten-free diets. Fortunately, when it comes to grocery shopping, Colorado offers affordability. Everyday essentials like eggs, milk, and bread are priced comparably to the national average, ensuring that residents can maintain their dietary choices without breaking the bank.

Grocery items in Colorado

Cost

Milk (regular), (1 gallon)

$3.99

Loaf of Fresh White Bread (1 lb)

$3.70

Rice (white) (1 lb)

$2.55

Eggs (regular) (12)

$5.50

Local Cheese (1 lb)

$6.10

Chicken Filets (1 lb)

$6.14

Beef Round (1 lb)

$7.59

Apples (1 lb)

$2.36

Banana (1 lb)

$0.71

Oranges (1 lb)

$2.26

Tomato (1 lb)

$2.28

Potato (1 lb)

$1.24

Onion (1 lb)

$1.29

Lettuce (1 head)

$1.96

Bottle of Wine (Mid-Range)

$16.49

Domestic Beer (0.5 liter bottle)

$1.81

Imported Beer (12 oz small bottle)

$3.31

Numbeo (Sept 2023)

What is the average monthly cost of groceries in Colorado?
The average monthly cost of groceries in Colorado is $277.12

Public transit in Colorado

Public transport in Colorado is widely available. For example, Colorado’s Regional Transportation District (RTD) offers bus, rail, and light rail services to Denver, Boulder, and nearby cities.

Type of fare

Rate

Single ticket

$3.00

10-Ride Ticket Book

$28.00

Weekly pass

$47.00

Monthly pass

$114.00

RTD Denver (Sept 2023)

How much does a monthly transit pass cost in Colorado?
The monthly transit pass costs $114.00 within Colorado.

Entertainment costs in Colorado

Colorado offers its residents a wealth of outdoor activities such as skiing, snowboarding, and hiking. Also, the state offers plenty of activities for active retirees. According to Numbeo.com data, the entertainment costs in Colorado are as follows.

Entertainment in Colorado

Cost

Mid-range restaurant meal

$37.50

Taxi 1h

$26.25

1 cinema ticket

$14.00

Total

$77.75

Numbeo (Sept 2023)

Sales tax in Colorado

Colorado’s sales tax is set by the state at 2.9%. 

Colorado Dept. of Revenue (Sept 2023)

Healthcare costs in Colorado

Healthcare is an essential expense. Therefore, we always include healthcare costs in our budget when moving to any place. The healthcare cost in Colorado is affordable; however, the prices vary among the wide selection of health plans. 

Type of healthcare

Cost

Employer-sponsored health insurance

$123.58

Non-employer-sponsored health insurance (average cheapest)

$174.33

Gym

$57.00

Numbeo (Sept 2023) & EHealthInsurance (Sept 2023)

What is the average monthly cost of employee-sponsored health insurance in Colorado?
The monthly cost of employee-sponsored health insurance in Colorado is $123.58.

Conclusion

Moving to Colorado is not so challenging because the cost of living in Colorado is quite affordable. And, if rightly budgeted, you can live in Colorado in no time. If you’re moving to Colorado, first, calculate the average cost of living in Colorado, as mentioned in the table below:

Category

Monthly cost

1 bed apt rent outside city center

$1,645.50

Groceries

Numbeo’s grocery list ($69.28 multiplied by 4)

$277.12

Utilities

Electricity, heating, cooling, water, garbage

$183.72

Internet with 60 Mbps

$77.34

Transit pass

$114.00

Entertainment 

Meal, taxi, movie

$77.75

Gym membership 

$57.00

Total

$2,432.43

Ad

Widgets Magazine

Ad

Widgets Magazine

Share this article on social media

Selina Cifelli

The author

Selina is a motivated marketing intern with a keen interest in developing engaging content related to moving experiences and city life. With a passion for fashion and traveling, she brings a fresh perspective to our readers. Her talent for crafting innovative written material effectively positions MovingWaldo as a trusted resource for hassle-free and efficient moves.

Relevant for your move

How much is your move?

Find a mover

Easily compare multiple quotes

Organize your move

Guided through a checklist

Internet packages

Get up to speed on the new deals

Address change

Update your address in a few clicks

Join the network

Become a trusted vendor in your service area

For agents and brokers

MovingWaldo is a one-stop-shop that simplifies tackling moving tasks

What is MovingWaldo?

We guide millions of families through each step of their moving process, helping them save time and money, and making sure nothing gets left behind.

Trouver un déménageur

Comparez plusieurs devis

Organisez votre déménagement

Guidé à travers une checklist

Changement d’adresse

Mettez Ă  jour votre adresse en quelques clics

Forfaits internet

Soyez au courant des nouvelles offres internet Ă  domicile

Rejoignez le réseau

Devenez un fournisseur de confiance pour desservir votre région

Professionnels de l’immobilier

Prolongez la relation avec vos clients grùce à votre propre plateforme de déménagement personnalisé

Qu'est-ce que MovingWaldo ?

MovingWaldo est un guichet unique qui simplifie la planification du déménagement

Get our printable change of address checklist directly in your inbox