Living Wage Calculation for Fort Collins, CO
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 0 Children | |
| Living Wage | $18.39 | $28.19 |
| Poverty Wage | $6.19 | $8.38 |
| Minimum Wage | $12.56 | $12.56 |
What is a good salary in Fort Collins Colorado?
The average salary in Fort Collins is $58,852. A good hourly wage in Fort Collins is $24.04 per hour. That works out to a good weekly wage of $961 per week and a good monthly wage of $4,166 per month. However, using the median income is only one way to calculate a good salary in Fort Collins.
What is a livable annual salary in Colorado?
Typical Expenses
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 1 Child | |
| Required annual income after taxes | $34,427 | $60,914 |
| Annual taxes | $7,815 | $13,827 |
| Required annual income before taxes | $42,241 | $74,741 |
How much an hour do you need to make to live in Colorado?
According to a report published by the National Low Income Housing Coalition, one must work 72 hours a week at Colorado’s minimum wage of $12.32 an hour to afford a one-bedroom accommodation at a fair market rent of $1,154 a month, assuming one spends 30 percent of their total income on rent.
How much are utilities in Fort Collins Colorado?
Average Single-Family Monthly Bill Comparison
| Utility | 2021 | $ Change |
|---|---|---|
| Water 10,000 gallons/month | $49.03 | $0 |
| Wastewater 4,800 gallons/month WQA | $34.25 | $0 |
| Stormwater 8,600 sq. ft. lot, light runoff | $21.74 | $0 |
| Total Average Bill | $183.16 | $1.56 |
What is a good salary to live comfortably in Colorado?
How much do you need to earn 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 is cost of living increase for 2022 in Colorado?
Consumer Price Index, Denver-Aurora-Lakewood area – May 2022. Area prices rose 1.3 percent in April and May, up 8.3 percent over the year.
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.
What is 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.
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.
How much do you need to make to afford rent in Colorado?
As the average rent price for a one-bedroom apartment in Denver, Colorado is $1,483 per month, a resident should earn at least $4,449 monthly in pre-tax income to live comfortably.
Is Fort Collins cheap to live?
Fort Collins has a relatively low cost of living compared to Denver and Boulder. It was ranked #1 on Livability’s list of The 5 Most Affordable Cities in Colorado.
Is it cheaper to live in Fort Collins or Colorado Springs?
Highlights. Colorado Springs is 11.7% less expensive than Fort Collins. Colorado Springs housing costs are 26.2% less expensive than Fort Collins housing costs. Health related expenses are 1.3% less in Colorado Springs.
What is the coldest month in Fort Collins?
December
The cold season lasts for 3.4 months, from November 20 to March 1, with an average daily high temperature below 49°F. The coldest month of the year in Fort Collins is December, with an average low of 20°F and high of 41°F.
What is good pay in Colorado?
Average Salary in Colorado
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $92,844 | $45 |
| 75th Percentile | $69,633 | $33 |
| Average | $65,630 | $32 |
| 25th Percentile | $45,958 | $22 |
Why is Colorado rent so high?
Skyrocketing rent is a matter of inventory and demand. Denver and the Front Range are stuck in a lack-of-inventory issue, Moye said. “You just have so many people, especially young people, who want to move here, that we just don’t have enough apartments and townhomes and rentals to cover them,” she said.
Why is cost of living so high in Colorado?
Colorado homes have skyrocketed in value especially in highly sought after areas such as Denver, Boulder, and Colorado Springs. These home values have increased due to a variety of factors from the growing population, lower interest rates, and builders focusing on luxury homes.
Is it cheaper to live in Florida or Colorado?
Florida is 11.4% cheaper than Colorado.
What salary do you need to live comfortably in Denver?
In Denver, where the median income is just shy of $39,000, residents need to make about $110,000 to comfortably own a home or a little over $100,000 to rent. The city has one of the largest gaps between median income and income needed to live comfortably.
Why are wages so low in Colorado?
The two most likely factors that explain the drop in the amount of low-wage jobs in Colorado are the historically low unemployment rate in 2017 and 2018 and moderate increases in the minimum wage over the past several years. In 2017, Colorado’s minimum wage rose from $8.31 to $9.30.
What is upper class in Colorado?
In Denver, you’ll need to earn $141,801 or more to be considered a “rich” person in the top 20% of the city’s 700,000 residents. The ultra-rich, or the top 5% of earners in Denver, make way more: $475,273 on average, according to the analysis.