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Cost of Living in Denver, CO

Denver offers a unique combination of urban amenities and outdoor recreation, with skiing, hiking, and mountain biking accessible within an hour. The tech and energy sectors drive strong job growth. Housing costs have risen significantly over the past decade but remain below West Coast cities.

Denver's cost of living index is 128 — 28% above the national average of 100. The median household income is approximately $68,592/year, and the median monthly rent is around $1,900.

Key Cost Factors in Denver

Housing: The largest expense for most residents. Median rent in Denver is approximately $1,900/month for a one-bedroom apartment. Home prices vary significantly by neighborhood.

Transportation: Costs depend heavily on whether you drive or use public transit. Denver transit options and commute patterns significantly affect monthly expenses.

Food & Groceries: Generally scales with overall cost of living. Eating out costs are above the national average in Denver.

Taxes: State and local tax burden is a critical factor when comparing cities. Research your specific situation, including state income tax, property tax, and sales tax rates.

Is Denver Affordable?

A common rule of thumb is to spend no more than 30% of gross income on housing. At the median rent of $1,900/month, you would need an income of at least $7,600/year to keep housing costs in check.

Frequently Asked Questions

Q: How does Denver compare to other major cities?
A: With a cost index of 128, Denver is 28% above the national average. Compare this to NYC (187), SF (~200), Austin (122), and Houston (96) to put it in context.

Q: What salary do I need to live comfortably in Denver?
A: Financial planners generally recommend earning 3–4× your annual rent. At $1,900/month in rent, that suggests a target income of $68,400–$91,200/year.

Disclaimer: Cost of living figures are estimates based on available data and may not reflect current conditions. Conduct thorough research before making relocation decisions.