The Cost of Living in Colorado: Is it Expensive to Live Here? (2024)

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Want to know the cost of living in Colorado? Recently, it seems like everyone wants to move to this state.

Whether it’s for the weather, the mountains, or the culture, Colorado is one of the fastest growing states in the nation.

Colorado is growing at a rapid pace. Between 2010 and 2020, the state’s population grew 14.8% to 5.8 million residents.

The Cost of Living in Colorado: Is it Expensive to Live Here? (1)

FREE EBOOK: Consider Colorado

Thinking of living in Colorado? This guide will help you avoid costly mistakes and remove the stress of planning so you can experience the joys of mountain living.

This makes the square state the 7th fastest growing state in the country. But what is the cost of living in Colorado? Is it expensive to live here?

As more people populate the state the demand for housing, goods, and services is bound to go up. Let’s break down the exact cost of living in Colorado for each main category.

In this post:

1. Housing costs in Colorado: $1,494-$3,487

Housing costs are the biggest main factor on why the cost of living in Colorado is so high.

How much do homes cost in Colorado? According to Zillow, the median price for a home in Colorado at the beginning of 2022 is $589,634 (an increase of more than $150,000 in the past two years). And prices are expected to continue rising in the next few years.

Then, when you add the cost of rising interest rates on mortgages and the ever-increasing cost of housing means that Colorado is becoming an expensive place to live.

And prices are expected to continue rising in the next few years, even if the housing market has cooled off a bit recently.

Here is how the home prices and values stack up in the top 3 most popular cities in Colorado.

The Cost of Living in Colorado: Is it Expensive to Live Here? (2)


An article by The Denver Post states that home prices in Denver’s metro area are 5 times the median household income.

For reference, the general guideline is to pay no more than 2.5 divided by your monthly income on a mortgage payment.

Simply take your monthly income / 2.5 = how much house you can easily afford!

The increase in popularity and housing prices means Denver is becoming less affordable as the weeks and months go by.

According to Zillow, the average cost of a home in Denver is $652,170.

The good news though, is that Denver’s real estate market is cooling off due to the fact that home prices are simply becoming unaffordable.

Many people can not afford to pay the high prices for rent and mortgage every month and are looking elsewhere.

Demand remains fairly high, and it is my assumption that Denver will still continue to be a popular destination for newcomers in the coming years.

If you find a good deal now, don’t wait! Housing costs are likely to rise in coming months.

Colorado Springs

Aside from Denver, Colorado Springs is one of the fastest-growing cities in the state.

It’s much more affordable than Denver while still providing many of the awesome amenities the state has to offer.

Zillow states that the average cost of a home in Colorado Springs is $492,383.

Unlike Denver, Colorado Springs’ housing market is white hot and on the rise. The city is becoming more popular every day and housing prices are rapidly increasing.

In fact, the average cost of owning a home has increased exponentially since early 2019.

When we purchased our home in July 2018, it was valued at $272,000 and today it’s worth $404,600 according to a Zestimate (in just a three-year period!).


Boulder is a picturesque place to live that has a small town feel with big city prices. It’s a college town by nature while also being a getaway for many of Denver’s most successful residents.

Because many out-of-state students call Boulder home as well as Denver’s elite, the housing market is out of control. You can pay upwards of $550+ per square foot!

Using Zillow’s home value index, the average cost of a home in Boulder is $1,126,946.

Thankfully though, Boulder’s housing market is cooling off and housing prices are expected to stay relatively steady in the coming months.

Renting an apartment versus buying a home

Generally speaking, renting is usually more expensive than buying a home. However, Colorado’s housing market likes to make its own rules.

Being a homeowner is part of the American dream, but if it’s your dream to live in Colorado, you might be better off renting — at least in the beginning.

A 2020 report suggests that renting a home is better than buying in Colorado. It states that renting is a cheaper option in more than 53% of Colorado counties.

Note: One main caveat is that renters are on their own when it comes to finding a place and negotiating a good deal. In Colorado, renters do not have real estate agents to represent or help them.

If you do have the funds to purchase a home in Colorado, do it as soon as possible. Prices are expected to increase while popularity and demand continues to rise.

Average cost of buying a home: $589,634 or $3,487 per month

Average cost of renting an apartment: $1,494 per month (two bedroom)

2. Utility expenses: $214

According to a study on utilities ranked by state, the average monthly utility bill in Colorado is $241, putting it somewhere in the middle of the pack.

Colorado is not the cheapest state for utility bills but it’s definitely not one of the most expensive.

For reference, states the typical utility bill for a family in the U.S. is about $171.66 or $2,060 annually.

Monthly utility costs for this comparison include the following expenses:

  • Electricity
  • Natural gas
  • Water / sewer
  • Cable TV
  • Internet
  • Trash / recycling

This means Colorado’s utility costs are $70 more per month than the average in the country. There are multiple reasons why these costs are higher and how you can lower them.

Renewable energy sources

Many homeowners and businesses in Colorado are increasing their use of renewable energy sources.

This can mean having your entire house powered by solar panels, or running a business completely off of energy produced by wind turbines (there are nearly 2,000 wind turbines in the state!).

Colorado is leading the country in renewable sources with our sources more than doubling since 2010.

The Cost of Living in Colorado: Is it Expensive to Live Here? (3)

Water consumption

While these factors decrease the average monthly cost of a Colorado utility bill, the cost of water is always unpredictable.

Colorado only recently found its way out of a 20+ year drought. Water costs can be very high depending on the amount of rain or snow received that year.

This has caused our utility bill to increase in prices rapidly, especially if we use a lot of water for showering, washing clothes, and watering the lawn.

Here are few things that can help make your Colorado utility bill lower.

No central air conditioning

One thing that might surprise you by moving to Colorado is that many homes DO NOT have central air conditioning.

As a girl from Texas, I found this quite shocking. But after living in the state for my first year, I quickly realized that air conditioning is usually not needed.

In fact, our home in Colorado Springs does not have central A/C (as is the same with many homes in our neighborhood). And we’ve honestly never needed it.

In addition, many small businesses and shops do not have central A/C in their buildings.

Colorado is a state that likes to keep it’s doors open to nature and to reduce the amount of noise created by central air conditioning units.

Low cost of natural gas

Colorado is the 6th largest natural gas-producing state, and is among the top 5 natural gas-producing states in the country.

This makes it easy for Colorado residents to use the natural gas they produce, reducing the high cost of transportation and delivery required from out-of-state.

However, with the economy still reeling from 2020 and potentially having a shortage soon, prices for natural gas (as well as water!) have skyrocketed.

Instead of traditional electric stoves and central heat, many homes have gas cooktops and a furnace to keep the home warm in the winter.

In fact, 7 out of 10 households in the state use natural gas as their primary home heating source.

3. Food budget: $553

According to Intuit’s budgeting software called Mint, the suggested monthly budget for groceries for 2 people is $553 or $892 for a family of four.

But MIT estimates that Colorado budgets should add an additional 10-14% based on the size of your family.

Colorado is also a very healthy state with many of us eating restricted diets ranging from vegan to gluten free.

So be sure to take any dietary restrictions or food preferences into your budget calculation for food.

Average food budget: $553 minimum per month or up to 14% of your monthly budget.

The Cost of Living in Colorado: Is it Expensive to Live Here? (4)

4. Healthcare costs: $438

Another factor for determining the cost of living in Colorado are healthcare costs.

Colorado residents put a lot of emphasis on being outside and staying active. We’re very health conscious in every aspect, from food to exercise, hobbies, and even therapy.

Residents spend a lot more money on vitamins, organic food, gym memberships, and outdoor hobbies like hiking, camping or skiing.

This can reduce the number of hospital visits, but does increase the cost of other categories.

One factor that can’t be controlled is the national cost of health insurance which is at the whim of the Federal government. And medical premiums continue to increase nationwide.

The average monthly cost of medical insurance without a subsidy in Colorado is $438, according to

Average healthcare costs: $438 per month

The Cost of Living in Colorado: Is it Expensive to Live Here? (5)

5. Colorado state taxes: $412.67

Colorado is a flat-tax state which means that no matter how little, or how much money you make, you will be taxed 4.55% of your income in 2022.

The base sales tax rate is 2.9% while many cities add their own sales tax on top of this amount.

For example, the sales tax you will pay in the Aspen Snowmass area can be upwards of 10.40% depending on what you are buying.

In case you are wondering, yes, you will be taxed for both medical or recreational marijuana.

This is subject to regular sales tax, plus an additional 15% sales tax and 15% excise tax.

Finally, there are property taxes to pay on real estate you own in Colorado.

Thankfully though, these tax rates are some of the best in the nation with the average effective property tax rate being just 0.49% in 2022. Which is the third-lowest state for property tax rates in the United States.

The reason property taxes are so low is that no amount of property tax revenue goes to the Colorado state government. All of the taxes stay within your county of residence, which is a nice benefit.

Income from property taxes are used to pay for local government services like road maintenance, local school districts, free public events, and more.

Average Colorado state tax bill: $2,252 yearly estimated tax on a $62,600 average salary in Colorado in 2022, or $187.67 per month.
Average Colorado property tax bill: $2,535 yearly property tax based on the average $589,634 home value, or or $225 per month.

Total taxes: $412.67 per month

Colorado state tax information was calculated using state calculators.

The Cost of Living in Colorado: Is it Expensive to Live Here? (6)

6. Transportation expenses: $657.61

As mentioned previously, Coloradans like to stay active and tend to go on in-state road trips and mountain drives frequently.

Here is how the state’s transportation costs breakdown.

Cost of gas

In 2022, Colorado residents will spend about 2.69% of their income on gas. Based on the median monthly income of $4,440 as detailed by this study, this amount is equivalent to $119.43 per month.

According to a 2018 report from, the annual cost per driver in Colorado is $515 statewide, for road repairs and maintenance.

There is also the cost of tolls associated with express lanes, due to the ever expanding amount of traffic.

Many Colorado residents, including myself, pay for an Express Toll Tag for popular express lanes like E-470.

The cost for this is charged to your Toll Tag account each time you use the Express Tollway, and is not charged on a monthly basis.

According to the average price of gas in Colorado starts at $4.90 for regular and goes up to $5.53 for premium gasoline.

This price has nearly doubled in the past couple of years, leaving many Coloradans with budgets that are stretched more than ever.

Taking all of these costs into consideration, it’s safe to assume that you will spend at least $450 per month on gas and tolls.

Public transit

Public transit can help reduce the cost of driving everywhere, but only if you live and work with access to one of the major cities.

Thanks to Colorado’s Regional Transportation District (RTD), public transportation is widely available in the state. They offer bus, rail, and light rail services to Denver, Boulder, and nearby cities.

A monthly pass for these services will cost between $114-$200 depending on whether you want local or regional service.

You can score more discounts on public transit by purchasing a Neighborhood EcoPass, an EcoPass for employees, a CollegePass, or a FlexPass.

Car insurance

Colorado has some of the highest car insurance premiums in the country. Mostly due to the fact that we get hit with falling rocks when driving in the mountains, or hail storms that come without warning.

The typical car insurance rate in Colorado is $1,363.40 per year or $113.61 per month. This is higher than the national average by 0.6%.

Average transportation expenses: $657.61 per month.

The Cost of Living in Colorado: Is it Expensive to Live Here? (7)

What is the exact cost of living in Colorado?

When adding up the total cost of each category listed above, it costs $5,762.28 per month to live in Colorado in 2022 (if you have an average mortgage cost).

Is it expensive to live in Colorado? After doing the research and living in this state for over 7 years, I’d say the answer is “yes.”

Obviously, it depends on whether you live in Denver or a smaller, less populated town in Colorado.

The cost of living could increase or decrease in each category depending on the county you live in.

So, what does this mean for your income? There are many perks and lifestyle upgrades that this state offers, but it’s also very expensive.

How much do you need to earn to live in Colorado?

According to data from, in order to comfortably afford to live in Colorado, you have to earn over $100,200 annually. This works out to earning about $8,350 per month.

But that information may be inaccurate as it does not count for the state of the economy post-2020.

In more recent data, the average annual salary in Colorado is roughly $72,000 per year.

This could mean you are able to pay most of your bills but doesn’t leave much room for discretionary income.

Bottom line: The average cost of living in Colorado in 2022 is $5,762.28 and this number continues to climb every day.

With the minimum wage increase and the average statewide wagebeing $62,000, is it possible to live comfortably on this amount of money?

If you want to buy a house, or pay for food, or fuel that costs more than our estimates, you will need to pay more!

We also recommend earning at least $8,000-9,000 per month to comfortably afford everything.

Other expenses not calculated

Other factors not included in these calculations are travel and entertainment costs, we all know how Coloradans love to ski and snowboard, and contributions for retirement.

In addition, this does not take into consideration any payments for car loans or other debts aside from owning a home.

This is obviously not a complete list of what it costs to live in Colorado but this covers the basics.

It gives you an educated idea of what you can expect to pay on average, when living in this beautiful state.

The Cost of Living in Colorado: Is it Expensive to Live Here? (2024)


How much money do you need to live comfortably in Colorado? ›

Typical Expenses
0 Children3 Children
Required annual income after taxes$34,427$115,899
Annual taxes$7,815$26,308
Required annual income before taxes$42,241$142,207
7 more rows

What is the average cost to live in Colorado? ›

Average Cost of Living in Colorado: $46,642 per year
CategoryAverage Annual Per-Capita Cost in Colorado
Housing and Utilities$9,914
Health Care$6,543
Food and Beverages (non-restaurant)$3,980
Gas and Energy Goods$751
1 more row

Is the cost of living cheap in Colorado? ›

Colorado has been ranked as one of the top 10 most expensive states to live in by U.S. News & World Report. This is mainly due to the fact that housing in Colorado is 34% more expensive than the rest of the United States. You can expect to pay about $1300 per month for rent or $1,750 for a mortgage.

How much do I need to make to afford living in Colorado? ›

How much do you need to earn to live in Colorado? According to data from, in order to comfortably afford to live in Colorado, you have to earn over $100,200 annually. This works out to earning about $8,350 per month.

What is the most in demand job in Colorado? ›

Detailed List Of The Most In Demand Jobs In Denver, CO
RankJob TitleOpen Jobs
1Registered Nurse3,510
2Account Executive2,083
3Sales Associate1,896
4Security Officer1,892
96 more rows
24 May 2022

What state is the cheapest to live in? ›

Take a look at the 10 cheapest states to live in for 2022.
  • Mississippi. Coming in as the cheapest state to live in in the United States is Mississippi with a cost of living index score of 83.3. ...
  • Kansas. ...
  • Alabama. ...
  • Oklahoma. ...
  • Georgia. ...
  • Tennessee. ...
  • Missouri. ...
  • Iowa.
1 Nov 2022

How much does a house in Colorado cost? ›

The average home value in Colorado as of 2020 was $369,600, according to the 2020 U.S. Census. Of course, that doesn't reflect the rapid inflation of the pandemic years. As of August 2022, the median home value is $577,500, according to the Zillow Home Values Index.

What is the average monthly salary in Colorado? ›

Colorado ranks number 22 out of 50 states for salaries on ZipRecruiter. As of Nov 22, the average annual salary in Colorado is $56,769. Just in case you need a simple salary calculator, that works out to be approximately $27.29 an hour. This is equivalent of $1,091 a week or $4,730 a month.

Is food expensive in Colorado? ›

In Colorado, a family of four can expect to spend an average of $10,384 on food in 2022, the 13th highest amount among states, according to the EPI's Family Budget Calculator.

Is living in Colorado a good idea? ›

The state offers a high quality of life and plenty of job opportunities for newcomers. It has consistently been named one of the best states to live in with some pretty great places to live. The state's population has reached an all-time high of about 5.8 million residents.

Are groceries more expensive in Colorado? ›

Colorado grocery costs

For example, you'll find grocery costs about 9% higher than the national average in Grand Junction but about 9% lower in Westminster. In total, Colorado residents can expect to pay 5% lower for food costs than the rest of the country.

Why is rent so high in Colorado? ›

Denver has fewer vacant rental units than a healthy market, according to the landlord group the Colorado Apartment Association, and that increases landlords' ability to raise prices. But vacancies have been increasing, too. If that trend continues, there may be some rent decreases in sight.

Is it cheaper to live in Colorado or California? ›

It's quite a bit cheaper

Colorado isn't exactly on the cheaper end of the spectrum. The overall cost of living index here is over 30% higher than the national average. However, the difference is that it's still almost 40% cheaper than California.

What is middle class in Colorado? ›

Range of household incomes needed to be considered middle class, by family size
StateSingleFamily of four
Colorado$26,876 – $80,629$53,752 – $161,257
Connecticut$28,364 – $85,091$56,727 – $170,181
Delaware$26,146 – $78,437$52,291 – $156,873
District of Columbia$30,242 – $90,727$60,484 – $181,453
48 more rows

Is it cheaper to live in Colorado or Florida? ›

Florida is around 12% cheaper to live in than Colorado.

Is it easy to find a job in Colorado? ›

There are tons of jobs here! As a matter of fact, according to recent unemployment stats, Colorado is hovering at 0% unemployment! Colorado employers are actively searching for professionals to fill position.

What is the best job to have in Colorado? ›

20 of the highest-paying jobs in Colorado
  1. Airline pilot. National average salary: $75,481 per year. ...
  2. Information systems manager. National average salary: $76,083 per year. ...
  3. Petroleum engineer. National average salary: $82,938 per year. ...
  4. Industrial engineer. ...
  5. Natural resource specialist. ...
  6. Sales manager. ...
  7. Aerospace engineer. ...
  8. Attorney.
13 Jan 2021

What job pays the most and is the easiest? ›

16 high paying simple jobs
  1. Word processor. National average salary: $47,119 per year. ...
  2. Notary Public. National average salary: $47,835 per year. ...
  3. Purchasing agent. National average salary: $49,376 per year. ...
  4. Groundskeeper. National average salary: $50,475 per year. ...
  5. Accounting clerk. ...
  6. Librarian. ...
  7. Appraiser. ...
  8. Garbage truck driver.
14 Apr 2022

Which state is the best to live in financially? ›

Here are the 10 most affordable states in the U.S. for moderately affluent households:
  • Tennessee. Average cost of living index: 89.5. ...
  • Iowa. Average cost of living index: 89. ...
  • Indiana. Average cost of living index: 88.9. ...
  • Missouri. Average cost of living index: 88.6. ...
  • West Virginia. ...
  • Georgia. ...
  • Alabama. ...
  • Kansas.
19 Oct 2022

What is the 2 cheapest state to live in? ›

20 Cheapest States To Live In The US
  • South Dakota. 2022 Second Quarter Cost of Living Index: 93.8. ...
  • New Mexico. 2022 Second Quarter Cost of Living Index: 93.6. ...
  • Ohio. 2022 Second Quarter Cost of Living Index: 92. ...
  • Wyoming. 2022 Second Quarter Cost of Living Index: 91.8. ...
  • Michigan. ...
  • Nebraska. ...
  • Texas. ...
  • Tennessee.
19 Oct 2022

What US city has lowest cost of living? ›

Cost of Living Index data is based on average prices of goods and services collected for the first three quarters of 2021, with index values based on the new weights for 2022.
  • Amarillo, Texas.
  • Anniston, Alabama. ...
  • Knoxville, Tennessee. ...
  • Joplin, Missouri. ...
  • Augusta-Aiken, Georgia/South Carolina. ...
  • Kokomo, Indiana. ...
  • Jackson, Tennessee. ...

Is it cheaper rent or buy a house in Colorado? ›

It's typically more affordable to own a home in 666, or 58%, of counties analyzed by Attom Data Solutions LLC. While it's still more affordable to buy a home than it is to rent in most places across the U.S., that gap is narrowing.

Are Colorado houses expensive? ›

Colorado homes have skyrocketed in value especially in highly sought after areas such as Denver, Boulder, and Colorado Springs. These home values have increased due to a variety of factors from the growing population, lower interest rates, and builders focusing on luxury homes.

What's the minimum down payment for a house Colorado? ›

It depends on what kind of mortgage you get. USDA- and VA-backed mortgages do not require a down payment. Conventional loans can require as little as 3% down, and FHA mortgages require 3.5%. Some Colorado programs require a payment of $1,000 with a conventional loan.

What is the starting wage in Colorado? ›

2021 Colorado State Minimum Wage

For 2022, the Colorado state minimum wage rate is $12.56. No more than $3.02 per hour in tip income may be used to offset the minimum wage of tipped employees.

What is the highest paying job in Colorado? ›

Vice President, Products & Marketing

What is the average weekly pay in Colorado? ›

AreaEstablishmentsAverage weekly wage (1)
United States (2)11,194,120$1,418
49 more rows

How much is the average electric bill in Colorado? ›

Electric bills in Colorado

In Colorado, the average monthly electric bill for residential consumers is $136/month, which is calculated by multiplying the average monthly consumption by the average electric rate: 920 kWh * 15 ¢/kWh.

Does it snow in Colorado a lot? ›

Yes, of course Colorado does get a lot of snow every winter, especially in mountain towns. However, when compared to the coldest states in America, the state isn't even in the top ten. The average snowfall ranges from 60-100 inches annually.

Is food tax free in Colorado? ›


1. Food purchased for human consumption at home. 2.

Is Colorado a rich or poor state? ›

In Colorado, per capita income stands at $70,559, higher than the national figure and the ninth highest among states.

What is the least expensive city in Colorado? ›

According to the website, the most affordable place to live in Colorado is La Junta! This city is home to nearly 7,000 people, and there's a lot to like about it: "La Junta may not have any big cities around, but you'd be surprised how much great stuff there is to do here.

How much does food cost per month for one person in Colorado? ›

Food Budget

For a single person living in Colorado, the average cost of food per month is $316.

Why is it so expensive to buy a house in Colorado? ›

DENVER (KDVR) — It isn't just Californians driving housing expenses in Colorado. Part of the reason homes and rent have gotten so expensive in the last few decades concerns building patterns. Demand has outpaced supply as homebuilders scared by the mortgage-driven Great Recession built fewer homes than needed.

Is Colorado a renter friendly state? ›

Is Colorado a Landlord or Tenant-Friendly State? As of today, Colorado is considered a landlord-friendly state since there are few restrictions regarding evictions for late-payments and security deposits. On the other hand, Colorado is one of the few states that allow landlords to enter their property without notice.

Is Colorado a landlord-friendly state? ›

Colorado is landlord-friendly because landlords can set their own notice requirements for entering their properties without having to consult a state law. In Colorado,there are no specific laws regarding a landlord's right to enter their rental.

Is there a housing shortage in Colorado? ›

Between 46,600 and 72,600 permits are needed annually through 2025 to close the statewide housing supply deficit and meet the demands of future population growth. Permitting for new housing in 2021 was 40 percent higher than in the previous 5 years and permitting in 2022 is on pace to remain within the targeted range.

What taxes do you pay in Colorado? ›

The new Colorado income tax rate is 4.40%, beginning in the 2022 tax year. In 2020, proposition 116 reduced the income tax rate to 4.55%.

Does Colorado have property tax? ›

The assessment rate on residential properties in Colorado is estimated at 7.96% (use .

Is Colorado a tax friendly state? ›

If you'd like to live in the mountains (or at their feet) the Centennial State is a generally a tax-friendly place to do it. Colorado has a reasonable rate income tax: If you have federal taxable income, the rate is a flat 4.4% for 2022.

What is the income limit for food stamps in Colorado? ›

Who is eligible for Colorado Food Assistance Program?
Household Size*Maximum Income Level (Per Year)
4 more rows

What are the 5 income classes? ›

Breaking Down Economic Class by Income

From that data, they split earners into different classes such as poor, lower-middle class, middle class, upper-middle class and wealthy.

Is working class middle or low? ›

Understanding the Working Class

Economists in the United States generally define "working class" as adults without a college degree. Many members of the working class are also defined as middle-class.

How much money do you need to live in Colorado comfortably? ›

Typical Expenses
0 Children3 Children
Required annual income after taxes$34,427$115,899
Annual taxes$7,815$26,308
Required annual income before taxes$42,241$142,207
7 more rows

Why are so many Floridians moving to Colorado? ›

A combination of stunning scenery, abundant recreational opportunities, great people, excellent schools, and fantastic health care makes Colorado an ideal place to call home. In fact, many of the “Top Ranked Places to Live” in the U.S. are located in and around the Denver metro area.

Where is the cheapest and safest place to live in Colorado? ›

  • Sterling. With a low rate of 0.63 violent crimes per 1000 population, Sterling has been ranked as one of the safest places to live. ...
  • Lamar. Lamar is a small town in the Eastern Plains of Colorado. ...
  • La Junta. La Junta is a small town in the southeastern part of Colorado. ...
  • Craig. ...
  • Trinidad. ...
  • Pueblo. ...
  • Cañon City. ...
  • Grand Junction.
23 Sept 2022

What is a decent salary in Colorado? ›

State Of Colorado pays an average salary of $81,910 and salaries range from a low of $71,074 to a high of $94,419. Individual salaries will, of course, vary depending on the job, department, location, as well as the individual skills and education of each employee.

What is middle class income in Colorado? ›

Range of household incomes needed to be considered middle class, by family size
StateSingleFamily of four
Colorado$26,876 – $80,629$53,752 – $161,257
Connecticut$28,364 – $85,091$56,727 – $170,181
Delaware$26,146 – $78,437$52,291 – $156,873
District of Columbia$30,242 – $90,727$60,484 – $181,453
48 more rows

What is considered wealthy in Colorado? ›

In Colorado, it was surveyed that the average net worth of a wealthy person in Denver is $2.3 million, while it takes a net worth of $671,000 to be considered “financially comfortable.” This number may change depending on where you live in the state and what the local cost of living is.

What is upper class income in Colorado? ›

Average Income of the Top 20%: $260,157. Average Income of the Top 5%: $475,273.

What job makes the most money in Colorado? ›

Detailed List Of Highest Paying Jobs In Colorado
RankJob TitleEntry Level Salary
1Vice President, Products & Marketing$162,000
2President & Chief Technology Officer$153,000
3Executive Vice President Of Sales$137,000
4Senior Director, Product Management$142,000
88 more rows
11 Apr 2022

What is the lowest paying job in Colorado? ›

Detailed List Of The Lowest Paying Jobs In Colorado
RankJob TitleAverage Salary
1Food Preparation And Serving Related Workers, All Other$23,650
2Dining Room And Cafeteria Attendants And Bartender Helpers$23,860
3Baggage Porters And Bellhops$23,970
4Gaming Dealers$24,000
86 more rows
17 May 2019

What income is considered poverty in Colorado? ›

Federal Poverty Guidelines
Size of Family2022 Monthly Income2022 Yearly Income
4 more rows

What is considered a high income for a single person? ›

With a $500,000+ income, you are considered rich, wherever you live! According to the IRS, any household who makes over $500,000 a year in 2022 is considered a top 1% income earner. Of course, some parts of the country require a higher income level to be in the top 1% income, e.g. Connecticut at $580,000.

Do people in Colorado make more money? ›

How much do Coloradans earn? Although the cost of living is only 11 percent higher than the national average, median incomes in Colorado are around 15 percent higher than average.

What is the average household income in Colorado? ›

Mean travel time to work (minutes), workers age 16 years+, 2016-202025.8
Income & Poverty
Median household income (in 2020 dollars), 2016-2020$75,231
Per capita income in past 12 months (in 2020 dollars), 2016-2020$39,545
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How much money do you need to be considered rich? ›

What's the Dollar Figure for Being Rich? How much money do you need to be considered rich? Well, according to Schwab's 2021 Modern Wealth Survey (opens in new tab), Americans believe it takes a net worth of $1.9 million to qualify a person as being wealthy. (Net worth is the sum of your assets less your liabilities.)

What is middle class for a single person? ›

The Pew Research Center has put a financial definition to the term “middle income.” To be considered part of that group in 2021—which is synonymous with middle-class, according to Pew—a single American must have earned $30,003 to $90,010, according to a new set of reports released Wednesday.

What jobs do upper class have? ›

They include such occupations as lawyer, physician, dentist, engineer, professor, architect, civil service executive, and civilian contractor. Many members of the upper-middle class have graduate degrees, such as law, business, or medical degrees, which are often required for professional occupations.

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