Cost of Living in Greeley, CO

An Overview of Cost of Living in Greeley, CO

Understanding the cost of living in Greeley can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Greeley cost of living index is 111, which is 11% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Housing costs are a major factor in the Greeley cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 37.8% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Greeley?

Nobody knows their city better than the people who actually live there. So, we asked 27 local residents how they would rate the cost of living in Greeley and this is how they responded. 44% of people said that the cost of living was affordable, with prices decreasing, while 56% of people said that the cost of living was very expensive and prices continue to rise.

Is Greeley Affordable?

Is Greeley affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Greeley, for instance, where the median home price falls 48.8% higher than the national average, and monthly rent rates are 12% higher than usual. Additionally, median income levels contribute to the equation, with Greeley flaunting a median household income of $57,537, 4% higher than the national norm.

What Factors can Influence the Cost of Living in Greeley?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Greeley, the transportation index is 8.5% higher than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Greeley, the groceries index registers 4.1% lower than the national average.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Greeley, healthcare costs are 11.1% lower than the national average.

Where is the Data From?

The cost of living data in Greeley displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.