Cost of Living in Erie, CO
Housing
The housing market plays a significant role in determining the cost of living in Erie, CO.
- Housing Index: 120.5 / 100
- Median Home Price is: $574,000
- Average Rent (2 BR Apartment): $2300 per month
- Average Rent (2 BR House): $2400 per month
Considering the data for Erie, CO, the housing index currently stands at 120.5, indicating the cost of living is above average. The median home price of 574000 suggests that purchasing a home may be challenging for many buyers. Renting options range significantly, with an average of 2300 for a 2BR apartment and 2400 for a 2BR house, indicating a competitive rental market. Keep in mind that homeownership offers long-term investment benefits, while renting provides flexibility. Assess your financial position and housing needs carefully before making a decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Erie, 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.): $275 per month
Living in Erie, 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 $275 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 Erie is a financially viable option for your relocation.