Cost of Living in Denver, CO
Housing
The housing market plays a significant role in determining the cost of living in Denver, CO.
- Housing Index: 115.0 / 100
- Median Home Price is: $631,000
- Average Rent (2 BR Apartment): $2400 per month
- Average Rent (2 BR House): $2480 per month
Considering a move to Denver, CO? The housing index stands at 115.0, indicating that the cost of living may be higher than many areas. With a median home price of 631000, purchasing a home here is a significant investment. For renters, the average rent for a 2-bedroom apartment is 2400 and for a house, it's slightly higher at 2480. This data suggests that while the housing market is competitive, the area's amenities, job opportunities, and lifestyle factors should also be weighed in your decision-making process.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Denver, CO.
- Electricity Price: $15.21 USD (median by state)
- Natural Gas Price: $11.3 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Denver, CO could entail higher utility costs. Electricity costs sit at $15.21, while natural gas is priced at $11.3 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Denver is a financially viable option for your relocation.