For those hoping to become future residents of Denver, Colorado, understanding the cost of living is essential for planning their move. Colorado is known for its high quality of life, but it comes at a price. According to the Colorado Office of Economic Development and International Trade, the state's overall cost of living is 12% higher than the national average and is increasing every year. Boulder is particularly expensive, costing approximately 30.1% more than Denver.
Despite the high cost of living, many people are still attracted to the area and aspire to make it their home. Fort Collins is a great alternative for those on a lower budget. It offers a wide selection of craft beer and is slightly more affordable than Boulder and Denver. Colorado Springs is another popular option for those looking to settle in the area.
Located 70 miles south of Denver, this city is renowned for its outdoor lifestyle and stunning mountain views. Home to many military operations, including the Air Force Academy, Colorado Springs has a strong patriotic atmosphere and a cost of living that is lower than some of the big cities along the Front Range. Vail is another ski resort town that has a small population of permanent residents. Located within the White River National Forest, Vail is a popular mountain getaway for Denver residents. Skiing and snowboarding are the dominant winter sports, and in summer, residents enjoy hiking, fly-fishing and golfing.
Sterling is the largest city in Northeast Colorado. Located on the northeastern plains, the community is heavily dependent on livestock and agriculture. Although it's just a few hours away from Denver, many have chosen to settle in Sterling due to its low cost of living. Limon is another place in the eastern plains that some have chosen to call home. Located along I-70, Limon mainly receives visitors who are passing through.
However, its low cost of living makes it an attractive option for those who want to live near Denver. The overall cost of living in Colorado varies greatly depending on where you choose to settle. While Denver is the most expensive city, many of the small mountain towns cost just as much or more than the capital. The only places where living is more affordable are the small towns of the Eastern Plains. After five years of increasing rents in Denver, apartment seekers are now enjoying a break with slightly decreasing rents. With lots of shops, restaurants, bars, and special events, Cherry Creek is one of the most popular places to live and visit in Denver.
The cost of utilities in Denver is 18% lower than the national average. Some insurance companies available in Denver include Anthem, Bright Health, Cigna, and Denver Health. Health care should also be factored into your monthly budget when calculating the cost of living in Denver. Some popular neighborhoods include Union Station, River North Art District, Cherry Creek, and Central Park. Denver's reasonable weather keeps utility bills under control but should still be taken into account when calculating your monthly budget. Compared to metropolitan cities, the cost of living in Denver is still quite reasonable with room for newcomers.
Food and transportation costs are much more reasonable compared to other parts of the country making Denver an excellent choice for anyone looking to save money without sacrificing quality or experiences.
