What to learn about the cost of living in Colorado before moving

Moving can be a very stressful process but there are a few things that you can do to make it easier for yourself. Making a proper plan and doing the right research is one of those things. Mod movers did that for you in this text – we analyzed the cost of living in Colorado so that you don’t have to. Bare with us as we show you what you need to know about living in Colorado before moving. Keep in mind that same as in other states, the cost of living in Colorado varies depending on the place where you are located.

Moving to Colorado

There are several reasons why so many people decide to move to Colorado. The air is clean, the job opportunities are vast, and it’s considered a healthy state since so many people lead a healthy lifestyle. The combination of the aforementioned circumstances is why the state of Colorado is growing lately. Regarding finances, Colorado is around 33% more expansive than the average state in America. One will need around 2000$ a month to cover the essential cost of living in Colorado. You might think that this is high but we need to compare this to the average salary to get a better picture. It seems that the residents of Colorado have a high standard of living – the average salary is just above 4000$ per month. That means that around 50% of the average salary remains per person after covering basic expenses.

money and taxes box
Be sure to analyze salaries and taxes to understand the cost of living in Colorado

Cost of living in Colorado – food, and groceries

In general, a person living in Colorado should expect to spend around 350$ monthly on groceries. Keep in mind that this price will grow in the following months due to the inflation that’s happening globally. This is a list of average expenses when it comes to food and groceries:

  • 14$ for a meal in an inexpensive restaurant
  • 9,3$ for a McMeal at McDonald
  • 5$ for a domestic beer
  • 14$ for a local cheese (1kg)
  • 15,2$ for chicken fillets (1kg)

As you can see, the cost of living in Colorado is not that high compared to other cities. Don’t forget the job opportunities that are available in this state. Having a good job in Colorado will easily allow you to cover all these expenses. We advise you to compare the cost of living in your old place to Colorado so that you can easily see the difference. You need to do this because it will allow you to calculate the total sum of money that you will need once you move to Colorado.

Utility expenses in Colorado

According to reliable data, it seems that utility expenses in Colorado are around 240$ monthly on average. This puts the state of Colorado in the middle of the price comparison chart when it comes to states in America. On average, a family in Colorado pays around 70$ more per month for utility expenses compared to the national average. Your main utility expenses will be: electricity, cable TV and Internet, trash disposal, water, and natural gas. The positive thing here is that Colorado is the 7th gas-producing state in America so there is a lot of it and it’s not expensive.

Three doctors looking at an x-ray scan
Having a good healthcare plan is a must

Salaries and taxes in Colorado

When it comes to salaries in Colorado, they vary greatly based on what kind of job you do. If you are a medical expert this is surely a place for you to be – surgeons, neurologists, dermatologists, and other medical professionals are highly wanted in this state. Salespeople, software engineers, and transportation experts are also in demand in this state. As we have mentioned, the average salary is around 4000$. The tax rate is flat – 4.5% no matter where in Colorado you live and no matter how high or low your salary is. This means that on average you will be paying around 180$ per month for taxes. The sales tax ranges from 2.4% to 11% based on your location in Colorado. The reason is the fact that municipalities can set their own rates.

Cost of healthcare in Colorado

Another important thing to consider is healthcare, especially in light of the recent events with the global pandemic. Residents of Colorado think highly of their health – and they are intent on keeping it on a high level. The state is well known for its many outdoor places and events in which you can participate. According to CDC, Colorado has been ranked 1st and has the title of the “healthiest state”. Having a healthcare plan for residents of Colorado is a must – on average it costs 440$ per month for a decent healthcare plan.

Housing costs in Colorado

To put things in simple words – Colorado is becoming an expensive place to live in. As we have mentioned there are many benefits to living here. High life standard, decent salaries, healthy lifestyle – all those factors played their part in housing costs. For those of you who want to buy a place here, you should know that the median home price is around 570 000$. This info is even more shocking when you compare prices from 2020 and see the 160 000$ increase in median home price. The trend is expected to continue in the future as well. Of course, for many people renting is the only option. California interstate movers say that the median price for 1 bedroom apartment rent in Colorado ranges from 1100$ to 1600$ per month. These figures go much higher if you want a more comfortable home. It does cost a bit more on average than buying a home but still, people do it often. You should check and compare the prices of rent especially if you are moving from distant places, they might vary greatly.

A person analyzing cost of living in Colorado on their phone
The housing market in a on a rise and this trend is expected to continue in the future

Cost of moving to Colorado

Moving costs are something that has to be considered when dealing with the cost of living in Colorado. The first thing you need to account for is the location – from where are you moving to Colorado? For example, if you are moving from California to Colorado, your moving costs can be as low as 700$ and as high as 6500$. Another thing that you have to consider is the number of things that you are moving. Finally, the time period in which you are moving and the number of movers needed to complete the job. You should contact your moving company and ask for a specific price since, as you can see, they vary greatly.

Final thoughts on the cost of living in Colorado

Same as everything in life, living in Colorado has its advantages and disadvantages. The final feeling that you can get after reading this is that Colorado is a great place to live in – for the people who can afford it. If you are one of those, or if you want to start a new life in Colorado we wish you all the luck. Providing that you can find a decent job, the cost of living in Colorado will not be a problem for you. We hope that we helped you a bit with the information that we provided.

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