What Is A Livable Wage In Colorado Springs?

$17.38.
Living Wage Calculation for El Paso County, Colorado

What salary do you need to live in Colorado Springs?

Typical Expenses

What is a good salary in Colorado Springs?

The average salary in Colorado Springs is $47,359. A good hourly wage in Colorado Springs is $19.71 per hour. That works out to a good weekly wage of $788 per week and a good monthly wage of $3,416 per month. However, using the median income is only one way to calculate a good salary in Colorado Springs.

How much do I need to make an hour to live in Colorado Springs?

Meanwhile, the same situation requires $25.08 an hour in the Denver metro area, $18.25 hourly in the Colorado Springs metro, $21.08 hourly in the Fort Collins metro, and $12.19 hourly in the Pueblo metro.

What is a good salary to live in Colorado?

According to data from HowMuch.net, in order to comfortably afford to live in Colorado, you have to earn over $100,200 annually. This works out to earning about $8,350 per month.

What’s the cheapest city to live in in Colorado?

The Cheapest Places to Live in Colorado

• Fruita.
• Trinidad.
• Colorado Springs.
• Brush!
• Fort Lupton.
• Federal Heights.
• Cañon City.
• Sterling. Sterling is a small city in northeastern Colorado with nearly 15,000 residents.

Why is cost of living so high in Colorado Springs?

Tatiana Bailey, director of the University of Colorado at Colorado Springs Economic Forum, said the local cost of living is being driven higher by thousands of people moving here, mostly from the Denver area, because the Springs area still remains more affordable than most of the nation’s other major urban areas.

What is considered rich in Colorado Springs?

According to GOBankingRates, the lowest income to be considered “rich” falls at $122,763, which is 20% of our city’s population. The average income of the top 20% of Colorado Springs’ richest residents is $203, 661. The average income of the top 5% is set at $345,526. So, who are Colorado Springs’ wealthiest residents?

What is the median salary in Colorado Springs?

Table

How much does the average person make in Colorado?

How much does an Average make in Colorado? As of Jul 31, 2022, the average annual pay for the Average jobs category in Colorado is $65,630 a year. Just in case you need a simple salary calculator, that works out to be approximately $31.55 an hour. This is the equivalent of $1,262/week or $5,469/month.

Can you live on minimum wage in Colorado?

Employees earning the Colorado minimum wage may still not reach a living wage. Considerations for calculating living wage include home prices, rent costs, utilities, food, transportation and healthcare. Although these are basic costs they do not include many expenses that Colorado employees may face.

Where does Colorado Springs rank in the cost of living?

Colorado Springs scores 109.1 on the Cost of Living index, meaning that it is slightly above average, but still significantly lower than other major Colorado cities. (Denver has a cost of living index of 114.7).

What is a comfortable wage in Colorado?

Living Wage Calculation for Denver County, Colorado

What is middle class in Colorado?

The range to be considered middle income is highest for families composed of two adults and two young children, requiring an income between $69,000 and $208,000. By comparison, single-adult families with no young children must earn $22,000 to $68,000 to be considered middle income.

Is it cheaper to live in Colorado or California?

While the cost of living in Colorado is 31% higher than the national average it is still 35-40% cheaper than California. The price of new homes is higher than other states but rental prices are quite affordable and utility costs are much lower.

Where is the safest cheapest place to live in Colorado?

#1 Lamar: Cheapest Places to Live in Colorado
Located in Prowers County, this small Colorado town is one of the safest and inexpensive places to live in Colorado. The close proximity to Pueblo and Colorado Springs is another reason for keeping this city at the top of the list.

Is moving to Colorado worth it?

Colorado has attracted many new residents who are drawn to the high quality of life in the state. The combination of job opportunities, beautiful weather, scenic views and a culture of wellness has proved irresistible to the Americans who have flocked to the state.

Where is affordable housing in Colorado?

Topping the list of the most affordable city in Colorado is Federal Heights, a suburb of Denver. Residents enjoy restaurants, coffee shops, and parks and take advantage of family-friendly activities.

Why is rent so high in Colorado Springs?

“Essentially what we found is that rent is going up so quickly, because people are leaving major metropolitan cities like LA, NYC and Boston and moving to places like Colorado Springs. That has really driven the cost up, when we look at Colorado specifically. Back to the basics of supply and demand.

Are houses expensive in Colorado Springs?

Buying a Home
As of December 2021, the National Association of Realtors reports that Colorado Springs has a $441,200 median home price (an 18.6% increase over 2020) for existing, single family homes, while the national median home price is $356,133.

What is the average utility bill in Colorado Springs?

Utility costs in Colorado Springs are above the national average. Utilities (including gas, electric, water, and garbage) average around $176/monthly for a 900 square foot apartment.