Moving to a different state can wreak havoc on your financial life if you go into it unprepared.Breckenridge Resort is priced at $109 and a three-day pass at Steamboat will run you over $300. One of the cheapest day passes is for Arapahoe Basin at $85. Prices of lift tickets vary among Colorado resorts. We all know that skiing can be a pricey pastime. Miscellaneous Cost of Living FactsĬolorado is famous for its ski slopes and ski towns. More specifically, the Fort Collins metro area is 18% higher, the Denver metro area is 13% higher and the Boulder metro area is 6% higher, according to 2016 data from the Health Care Cost Institute. On the other hand, the overall healthcare prices in the state are far above the U.S. The average Colorado employee annually contributes about the national average for single coverage healthcare. A 2017 report from the Agency for Healthcare Research and Quality has Colorado ($1,375) just $40 below the national average of $1,415. No property tax revenue goes to Colorado’s state government. The money Coloradans pay in property taxes stays within their county of residence. The Centennial State has an average effective property tax rate of just 0.57%.
Here’s some good news for homeowners: Colorado’s property tax rates are some of the nation’s lowest. There are also application and licensing fees for medical and retail marijuana sales that may apply.
STATE PROPERTY 2 MEME PLUS
In case you were wondering, marijuana, whether medical or recreational, is subject to the 2.9% state sales tax plus any applicable local sales taxes, as well as an additional 15% sales tax and a 15% marijuana excise tax. At a city level, sales tax can get as high as 10.40% (in the small ski town of Snowmass Village). The base sales tax rate in Colorado is 2.9%, though many cities add their own sales taxes on top of it. That’s great if you’re rich, but not-so-great if you’re on the lower end of the income scale. The income tax rate in Colorado is 4.63% regardless of income level. A month of access will cost you $114 or $200 depending on whether you want local or regional service.Ĭolorado is a flat-tax state. Public transportation is available in Colorado’s Regional Transportation District, with bus, rail and light rail service to Denver, Boulder and nearby cities.
STATE PROPERTY 2 MEME DRIVERS
In Fort Collins, drivers pay an average of $2.76 per gallon. In Denver, though, gas averages $2.72 per gallon. TransportationĪccording to May 2019 data from GasBuddy, the average price of a gallon of gas in Colorado is $2.78. For reference, the national average is $323.72. 2019 data from indicates that Denver residents can expect to spend $337.09 a month on food, whereas Colorado Springs residents will pay $348.53. The monthly costs of food vary from city to city. This percentage raises slightly for a family with two working adults and two children, as 14.4% of their $73,132 worth of income is spent on food. Of that income, MIT estimates that $3,573 will be spent on food, which makes up 13%. MIT’s Living Wage Calculator places the annual living wage of a single adult with no children in Colorado at $27,444.
Cheap gas in Colorado is partially to blame for this disparity. For further reference, the highest monthly bill in the U.S. As a result, the average Colorado monthly bill is $82.47, which is $29.20 less than the $111.67 national average. Energy Information Administration (EIA), residents of Colorado consume much less energy than the U.S. Despite being the largest city in the Colorado, Denver’s medians for the same apartment types sit at just $871 and $1,064 each.Īccording to a 2017 report from the U.S. In Boulder, studio and one bedroom median rent is $1,017 and $1,158, respectively. Renting is much more common in big cities, though.
Compare this to San Francisco’s two bedroom median of $3,108, and Colorado suddenly appears much better. According to 2019 data from Apartment List, a two bedroom apartment in Colorado has a median rent of $1,305, which is $130 above the national median. Under 40% of Colorado residents choose to rent, as renting in the state is slightly more expensive than the rest of the country. As of the end of 2018, the median home value in the state stands at $373,564. Based on 2008 to 2018 data from NeighborhoodScout, Colorado homes have appreciated an average 5.08% a year. Home values in Colorado took a serious dip after the recession but they’ve since rebounded. Hearing “Colorado” conjures up visions of beautiful ski chalets and cabins in the mountains.
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