![]() A cost of living index above 100 means Denver, Colorado is more expensive. An amount below 100 means Denver is cheaper than the US average. ![]() Our cost of living indices are based on a US average of 100. To live comfortably in Denver, Colorado, a minimum annual income of $110,520 for a family, and $63,600 for a single person is recommended. Renting a two-bedroom unit in Denver costs $1,910 per month, which is 33.6 percent more than the national average of $1,430 and 13.6 percent more than the state average of $1,650. average and 5.9 percent lower than the average for Colorado.Ī typical home costs $576,000, which is 70.4 percent more expensive than the national average of $338,100 and 9.3 percent more expensive than the average Colorado home, at $527,200. The cost of living here is 7 higher than the national average. View future changes in the minimum wage in your location by visiting Minimum Wage Values in. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. The median after-tax salary is 4614, which is enough to cover living expenses for 2.1 months. The federal minimum wage is 7.25 per hour while Colorado's state law sets the minimum wage rate at 13.65 per hour in 2023. ![]() 7 But otherwise, Colorado can be an expensive place to live. The average cost of living in Colorado Springs is 2184, which is in the top 11 of the most expensive cities in the world, ranked 1061st out of 9294 in our global list, 944th out of 2202 in the United States, and 22nd out of 28 in Colorado. Denver, Colorado gets a BestPlaces Cost of Living index of 127.6, which means the total cost of housing, food, child care, transportation, health care, taxes, and other necessities is 27.6 percent higher than the U.S. Utilities in Colorado cost 13 less than the average state because of Colorado’s renewable energy sources.
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