How expensive is it to live in denver colorado

Set against the scenic backdrop of the Rocky Mountains, Denver is the best of both worlds for people looking for a big-city environment close to the great outdoors. In town, there's amazing dining, arts, culture and sports like Colorado Rockies baseball. Just outside of town, you can go hiking, skiing, climbing and much more. It's easy to see why it's one of the best places to live in Colorado.

On top of all this, Denver also has an affordable cost of living that's only 11 percent higher than the national average. This is down 1.4 percent from last year. Most cost of living categories here are actually below the national average. Combine affordable prices with the abundance of things to do and you have a great quality of life that appeals to everyone from families and young professionals. But there are some costly aspects of living in the Mile High City that you should know before uprooting your life to move out west. Here's how the cost of living breaks down in Denver.

• Housing costs in Denver
• Food costs in Denver
• Utility costs in Denver
• Transportation costs in Denver
• Healthcare costs in Denver
• Goods and services costs in Denver
• Taxes in Denver
• How much do you need to earn in Denver?

Denver housing prices

The cost of housing is Denver's highest cost of living expense, rising 40.5 percent above the national average. Even though housing costs here have been going up over the past decade, the current rate is only 2 percent higher than last year.

From downtown to Five Points, Denver has tons of cool neighborhoods for renters. If you're looking to rent an apartment here, the average monthly rent for a one-bedroom apartment is $2,077. This is 2 percent lower than last year. If you want to size up to a two-bedroom unit, it will set you back around $2,774 a month.

If you're interested in buying a house in Denver, expect a competitive market. With city parks, good schools and easy access to the city center, Denver has many family-friendly districts and areas that are perfect for homeowners. The median sale price for a house here is $581,000, which is 8.6 percent higher than last year. This is much higher than the national median sale price for a house, which is $403,556.

Denver is by far Colorado's most populous city. If you're looking for affordable housing, it's definitely one of the more expensive options. In Colorado Springs, Colorado's second-biggest city, the average one-bedroom rent is $1,280. But there are also plenty of smaller cities in the Rocky Mountains that give Denver a run for its money cost-wise. Renting a one-bedroom apartment in the popular outdoorsy town of Boulder is $2,082 a month.

Denver food prices

From mountain climbing to hiking, Denver calls to people who love adventure. That extends to its food scene as well. The Mile High City boasts a diverse and exciting food scene including craft breweries, Mexican cuisine featuring locally-grown green chiles, Rocky Mountain oysters and much more. So if you're looking for a dynamic and delicious foodie city, Denver could be right up your alley.

Whether you love dining out or dining in, the good news is that the food costs here are pretty affordable. The price of food is 6.6 percent lower than the national average, which is 0.3 percent less than last year. Going to the grocery store, a dozen eggs costs around $2.01, a half-gallon of milk is $1.97 and a loaf of bread is $3.63.

Some food prices here are slightly higher than elsewhere in the state. In Colorado Springs, that dozen eggs costs slightly less at $1.98. But some items are cheaper here, as you'd be paying $2.71 for a half-gallon of milk in Pueblo.

Denver utility prices

Due to its location in the Colorado high desert close to the Rockies, lots of people expect Denver to have hot, dry summers and frigid, snowy winters. But that's actually not the case. Summers don't get unbearably hot, with sunny and dry days. Winters can be cold but don't get as much snow and bad weather as the nearby mountains.

As such, utility costs here aren't as bad as could be expected due to this reasonable climate. Dropping 1.1 percent from last year, the cost of utilities here is 17.9 percent below the national average. Denver residents can expect to pay around $121.81 for energy each month.

This is actually on the low side of Colorado energy prices. In Colorado Springs, average monthly energy costs are around $195.42. Living in Pueblo, you'd be paying an average of $175.94 a month in total energy costs.

Denver transportation prices

Of all the good things you've heard about Denver, traffic and transportation probably aren't on that list. Due to the rapidly-expanding population, local infrastructure hasn't been able to keep up with the growth. This has led to notorious gridlock and bad traffic. In fact, it's one of the worst cities for traffic in America.

Luckily, Denver also has a robust public transportation system, as well as affordable overall transportation costs. The cost of transportation here is 1.3 percent below the national average, which is 8.2 percent lower than last year.

If you do want to use public transportation here, you can use the Regional Transportation District, or RTD, mass transit system. This agency offers bus, rail and light rail transportation options throughout the city. Fares vary depending on the zone and type of transit. The fare for a single bus trip is $3, with a three-hour travel window. With a $6 day pass, riders have unlimited access to local buses and rail services. Local areas around central Denver are lower, with rates going up for regional travel throughout the metro area. A monthly local pass is $114, while a monthly regional pass is $200.

If you do prefer to drive to get around town, you should be aware of the toll road E-470 which heads out to the airport. However, this route heads along the eastern edge of the city and isn't one of the main arteries for commuters. Unless you head to the airport a lot, you likely won't need to use it much. You can also pay $35 for an ExpressToll account to use tolled express lanes around the city to get through the most heavily-trafficked areas.

Focus on the cost of a one-way trip (make sure you mention zone pricing if relevant) as well as weekly or monthly fare prices. Also be sure to take into consideration if trains have different rates than subways vs. buses, etc.

Denver is also a fairly walk- and bike-friendly city. With a walk score of 71 and a bike score of 78, it's pretty easy to navigate the city center on foot or with your bike.

Denver healthcare prices

Colorado is one of the best states in America for healthcare quality and public health. With many top-ranked hospitals in and around the Denver area, locals have plenty of access to exceptional, top-notch medical care.

Along with the quality of care, affordable healthcare costs are another bonus of living here. Down 1 percent from last year, healthcare costs in Denver are 0.5 percent below the national average. Going to the doctor's office costs roughly $105, and heading to the dentist will set you back around $116. The cost of prescription drugs is on the high side at $488.95.

Even though most of these healthcare costs are reasonable, it's important to note that these rates won't be the same for everyone. Healthcare costs vary depending on personal needs, making it difficult to come up with an accurate average. Some Denver locals may pay much higher for healthcare than others depending on insurance, necessary treatments and other health needs.

Healthcare costs here are pretty middle-of-the-road compared to the rest of Colorado. Going to the doctor's office in Colorado Springs costs $137.50, but is only $95 in Pueblo.

Denver goods and services prices

Along with monthly expenses like housing, groceries and utilities, goods and services is another cost of living expense to consider. These are items or services to purchase or use on a semi-regular basis, like getting a haircut or going to the movies.

Denver has an active social scene, giving residents lots of opportunities for entertainment out on the town. Fortunately, the overall cost of goods and services is reasonable, being only 5.4 percent higher than the national average. This is 4 percent lower than the previous year.

As an example of what those figures mean, getting your hair cut in Denver costs an average of $24.75. This is cheaper than other cities like Colorado Springs, where it costs $26.43. Some costs here are more expensive, like movie tickets. Going to a movie in Denver costs around $14.23 for tickets compared to $11 in Pueblo.

Taxes in Denver

Living in Denver, the city sales tax is 4.81 percent. But that figure goes up to 8.81 percent when you also add Colorado state sales tax and several small taxes for the scientific and cultural fund and transportation.

If you're spending $1,000 on ski gear getting ready for winter, you'll be paying $88.1 extra in sales tax.

Denver and Colorado also levy a minimum marijuana sales tax of 15 percent. So if you enjoy partaking, that's another tax to consider.

How much do I need to earn to live in Denver?

Now that you've seen what things like housing and food cost around Denver, the question remains of how much you have to make to comfortably live here.

A good rule of thumb is to only spend 30 percent of your monthly income on rent. This is because rent is typically your biggest monthly expense. Considering that the average rent in Denver is $2,135, you'd need to make $7,116 a month for that to be 30 percent of your monthly income. That comes out to $85,392 annually.

You can use our rent calculator to figure out what you can afford to pay in rent depending on income, location and other factors.

Living in Denver

Especially given its size and popularity, for the most part, Denver boasts a reasonable cost of living. Housing is the biggest exception, whereas other monthly expenses like food or utilities are on the affordable side. So if you can swing higher rents or mortgages, you may find living in Colorado's capital city to be within your budget. Plus, you get amazing outdoor access, stunning mountain views and tons of big-city fun from sports and dining.

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