Cheapest Places to Live in Colorado

Colorado, known for its majestic Rocky Mountains, vibrant cities, and extensive outdoor recreational opportunities, is a state that appeals to both nature enthusiasts and urban dwellers. The state features landmarks such as Rocky Mountain National Park, the Garden of the Gods, and Pikes Peak. The state’s economy is robust and diverse, supported by industries such as technology, aerospace, agriculture, and tourism. Colorado's tax structure, which includes moderate income and property taxes, contributes to its overall affordability. Despite the state’s growing popularity and the recent rise in housing prices and living costs, there are still several areas in Colorado where the cost of living is lower. These regions provide a lower cost of living while maintaining access to Colorado's natural beauty and amenities. Recent inflation and increases in food costs have affected affordability, making it important to identify regions within the state where living expenses are more manageable.

Affordable living in Colorado can often be found in smaller towns and less densely populated areas, where housing and daily expenses are lower. The significance of affordability in livability cannot be underestimated, as it ensures residents can enjoy a high quality of life without financial hardship. Factors leading to affordable living include local economic conditions, housing availability, and efficient public services. The C2ER's cost of living data is a valuable resource for pinpointing these affordable areas, helping residents make informed decisions about where to live in Colorado. By understanding where these affordable regions are located, residents can better navigate the state's economic landscape and fully enjoy the diverse opportunities and natural beauty that Colorado offers without compromising their financial health. Identifying the cheapest places to live in Colorado enables residents to make the most of their surroundings while maintaining financial stability.

La Junta Population: 6,907 23% cheaper than Colorado average

Med. Home Value: $94,800 Med. Rent: $635 Med. Household Inc.: $49,654

With a cost of living index that is 23% cheaper than the state average, La Junta is the cheapest place to live in Colorado. This area offers residents a remarkable blend of relatively low housing costs, budget-friendly grocery prices, affordable utilities, and economical health care services, making it an attractive destination for those seeking to stretch their dollars further. Whether you're a young professional, a growing family, or someone looking to enjoy a more relaxed pace of life, La Junta provides an inviting and cost-effective environment to call home.

Lamar Population: 7,598 21% cheaper than Colorado average

Med. Home Value: $105,500 Med. Rent: $746 Med. Household Inc.: $41,124

The second most affordable city in Colorado is Lamar and stands out for its cost-effective lifestyle. With an overall cost of living that is 21% cheaper than the Colorado average, overall goods and services, housing, utilities, transportation and health care costs fall within a reasonable range. Median household income levels are steady and come in at , which helps to increase the purchasing power of the local residents.

Federal Heights Population: 13,537 19% cheaper than Colorado average

Med. Home Value: $71,700 Med. Rent: $1,324 Med. Household Inc.: $49,291

Federal Heights lands in the #3 spot for the cheapest cities to live in Colorado, with a cost of living that is 19% cheaper than the state average. With home prices averaging and rental rates coming in around , it helps that household income levels average about , which assists with paying the mortgage or your monthly rent. Its robust public school system and accessible health care further enhance its appeal, making it a great place to settle down. The strong community spirit and ample recreational opportunities add to its charm.

Trinidad Population: 8,076 17% cheaper than Colorado average

Med. Home Value: $145,700 Med. Rent: $739 Med. Household Inc.: $38,733

The cost of everyday grocery items, goods & services and of course housing, can have a significant impact on the overall cost of living in any area. Trinidad offers a picturesque and affordable living environment, with a cost of living that is 17% cheaper than the state average. Everyday items like ground beef , eggs , coffee and pizza are all fairly reasonable compared to most other cities, which helps reduce those grocery bills. Home prices are also fairly affordable (compared to the state average), coming in at around .

Sterling Population: 14,421 16% cheaper than Colorado average

Med. Home Value: $141,100 Med. Rent: $814 Med. Household Inc.: $40,956

For those wanting to live well on a budget, Sterling is ideal, with a cost of living that is 16% cheaper than the state average. Reasonable housing prices (compared to the Colorado average) of and rental prices of are paired with economical goods and services and a range of free or low-cost recreational activities. The city's proactive economic development initiatives also ensure a steady stream of job opportunities, making it a smart choice for those prioritizing financial ease.

Alamosa Population: 9,360 16% cheaper than Colorado average

Med. Home Value: $153,800 Med. Rent: $683 Med. Household Inc.: $38,000

Alamosa comes in at #6 on our list of the cheapest cities in Colorado and is a haven for those seeking affordability without sacrificing convenience. The city is known for its discount shopping centers and budget-friendly dining options and has a cost of living that is 16% cheaper than Colorado. The city's local markets provide fresh produce and other groceries at reduced prices, while parks and community centers offer free entertainment and leisure. This city is perfect for enjoying a high quality of life at a low cost.

Pueblo Population: 111,776 16% cheaper than Colorado average

Med. Home Value: $149,600 Med. Rent: $826 Med. Household Inc.: $42,902

With its cost-effective lifestyle, Pueblo is an attractive destination for those looking to live affordably. The city boasts suitable housing costs, affordable healthcare, and a variety of budget-friendly dining options. The community is welcoming and vibrant, providing residents with a rich social life at a fraction of the cost. Median income levels come in at , which provides financial stability, purchasing power and increases the quality of life in the city.

Cortez Population: 8,729 12% cheaper than Colorado average

Med. Home Value: $166,800 Med. Rent: $839 Med. Household Inc.: $42,245

A lower cost of living allows individuals to manage their expenses more effectively, reducing the risk of financial stress and debt. When essential costs such as housing, food, transportation, and healthcare are more affordable, people can achieve greater financial stability and resilience. Cortez fits that mold and has a cost of living that is 12% cheaper than Colorado.

Clifton Population: 20,783 12% cheaper than Colorado average

Med. Home Value: $158,000 Med. Rent: $969 Med. Household Inc.: $46,394

Lower living costs can lead to a higher quality of life by making it easier for people to afford comfortable housing, nutritious food, and access to healthcare. It can also provide opportunities for better education, recreational activities, and community engagement, contributing to overall well-being. Clifton is one of the most affordable cities in Colorado, and has a cost of living that is 12% cheaper than the state average.

Craig Population: 8,978 12% cheaper than Colorado average

Med. Home Value: $173,500 Med. Rent: $825 Med. Household Inc.: $49,667

With a cost of living that is 12% cheaper than Colorado, Craig comes in at #10 on our list of the cheapest places to live in Colorado. Financial stress is a significant factor affecting mental and physical health. By lowering the cost of living, individuals can experience reduced anxiety related to meeting monthly expenses, thereby improving overall health and well-being. The ability to afford basic necessities without constant worry contributes to a more balanced and fulfilling life.

Full list of the cheapest places in Colorado

Rank	Location	Population	COL Index	Med. Home Value	Med. Household Inc.
1	La Junta	6,907	86	$94,800	$49,654
2	Lamar	7,598	88	$105,500	$41,124
3	Federal Heights	13,537	91	$71,700	$49,291
4	Trinidad	8,076	93	$145,700	$38,733
5	Sterling	14,421	93	$141,100	$40,956
6	Alamosa	9,360	93	$153,800	$38,000
7	Pueblo	111,776	94	$149,600	$42,902
8	Cortez	8,729	97	$166,800	$42,245
9	Clifton	20,783	98	$158,000	$46,394
10	Craig	8,978	98	$173,500	$49,667
11	Delta	8,893	99	$186,300	$40,841
12	Brush	5,408	99	$179,000	$56,078
13	Fort Morgan	11,311	99	$184,300	$48,642
14	Cañon City	16,369	103	$185,300	$49,963
15	Montrose	19,396	106	$232,200	$52,534
16	Derby	9,156	106	$207,100	$63,071
17	Orchard Mesa	6,484	106	$216,500	$61,017
18	Stratmoor	5,960	106	$191,500	$51,500
19	Pueblo West	32,842	106	$236,400	$73,608
20	Fruitvale	8,352	107	$214,000	$64,063
21	Grand Junction	62,218	107	$251,400	$54,570
22	Gunnison	6,653	109	$259,500	$44,386
23	Evans	22,128	109	$237,400	$64,007
24	Fruita	14,068	110	$245,100	$50,800
25	Welby	15,372	111	$241,900	$67,594
26	Greeley	107,445	111	$274,800	$57,537
27	Fort Lupton	8,600	111	$284,100	$66,056
28	Rifle	9,771	112	$275,700	$66,176
29	Cimarron Hills	18,981	112	$233,200	$71,342
30	Lochbuie	6,795	112	$275,200	$68,493
31	Sheridan	6,072	113	$262,300	$46,202
32	Glendale	5,186	114	$252,600	$60,573
33	Milliken	7,862	114	$306,700	$69,219
34	Security-Widefield	38,645	114	$237,500	$72,175
35	Eaton	5,646	116	$328,800	$86,620
36	Sherrelwood	19,082	118	$303,700	$64,404
37	Fountain	30,240	118	$259,000	$68,194
38	Dacono	6,167	119	$326,500	$73,050
39	Colorado Springs	471,686	119	$294,500	$51,237
40	Colorado Springs	471,686	119	$294,500	$56,155
41	Colorado Springs	471,686	119	$294,500	$64,893
42	Colorado Springs	471,686	119	$294,500	$61,082
43	Colorado Springs	471,686	119	$294,500	$83,209
44	Colorado Springs	471,686	119	$294,500	$91,314
45	Colorado Springs	471,686	119	$294,500	$88,650
46	Colorado Springs	471,686	119	$294,500	$106,231
47	Colorado Springs	471,686	119	$294,500	$100,104
48	Colorado Springs	471,686	119	$294,500	$67,719
49	Colorado Springs	471,686	119	$294,500	$109,399
50	Colorado Springs	471,686	119	$294,500	$47,922

Methodology

To formulate the list of the cheapest places to live in Colorado, AreaVibes utilized comprehensive data from the Council for Community and Economic Research (C2ER) cost of living index. The report is released annually and offers a detailed comparison of living expenses across various urban areas. The data is meticulously gathered by over 300 independent researchers, ensuring a high level of accuracy and reliability. The C2ER index encompasses more than 60 goods and services, categorized into six essential areas that significantly impact the cost of living. These categories and their respective weightings in the index are as follows: goods and services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%), and utilities (10%).

Map of Cost of Living by State

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The map above is a great way to help you discover the most affordable states across the U.S. By highlighting states with the lowest cost of living, this map provides an in-depth look at where you can get the most value for your money. By visually representing this data, the map allows users to easily compare different regions and make informed decisions about potential relocations or investments. Additionally, it provides valuable insights into the economic conditions and lifestyle factors that influence these cost of living statistics. Whether you're planning a move, considering a new job, or simply curious about the economic landscape, this map is a useful resource for understanding and navigating the financial implications of living in different states.