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: $574000
• 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 110.3

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $154509

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

• Click here for more information

Summary

When considering a move to Erie, CO, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.