C+
14%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
33%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Security-Widefield Colorado National
Cost of living114111100
Goods & Services111104100
Groceries104101100
Health care105100100
Housing133134100
Transportation104105100
Utilities9991100

An Overview of Cost of Living in Security-Widefield, CO

Are you thinking about relocating, but curious about the potential cost of living in Security-Widefield? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Security-Widefield stands at 114, making it 14% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Housing costs make up a big chunk of the cost of living in Security-Widefield, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 33.2% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Security-Widefield goods and services are 10.5% more expensive than the national average, leaving you with less money at the end of the month.

Is Security-Widefield Affordable?

Is Security-Widefield 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 Security-Widefield, for instance, where the median home price falls 28.6% higher than the national average, and monthly rent rates are 43.9% higher than usual. Additionally, median income levels contribute to the equation, with Security-Widefield flaunting a median household income of $72,175, 30.5% higher than the national norm.

What Factors can Influence the Cost of Living in Security-Widefield?

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Security-Widefield, healthcare costs are 5.3% higher than the national average.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Security-Widefield, the groceries index is 3.8% higher than the national average.

Where is the Data From?

The cost of living data in Security-Widefield 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.

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Cost Of Living Quick Facts

  • The cost of living in Security-Widefield is 3% higher than the Colorado average
  • The cost of living in Security-Widefield is 14% higher than the national average
  • Security-Widefield housing is 33% higher than the national average
  • Colorado general sales tax is 43% lower than the national average
  • Colorado state income tax is 69% higher than the national average

Most Affordable Places to Live in and Around Security-Widefield

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Compare Security-Widefield, CO Cost of Living

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      Salary Calculator

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$76,499$6,375$1,785$2,295
      Renters$55,594$4,633$1,297$1,668
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Security-Widefield, CO, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Security-Widefield homeowners, is $76,499. This would allow for a maximum of $1,785 per month to be spent on housing costs. For renters, the median monthly income is $55,594 which would result in a maximum of $1,297 to be spent on rental costs.

      Colorado Sales Tax

      State General Sales Tax With Max Surtax
      Colorado 2.9% 10%

      Colorado Income Tax

      State Income Tax (Low) Income Tax (High)
      Colorado 4.4% 4.4%

      Goods & Services

      Item Security-Widefield National avg. Difference
      Haircut $33.33$24.2637.4%
      Beauty Salon $47.14$45.563.5%
      Toothpaste $3.61$3.702.4%
      Shampoo $1.29$1.280.7%
      Movie $11.74$12.133.2%
      Bowling $18.60$18.003.3%

      Groceries

      Item Security-Widefield National avg. Difference
      Ground Beef $5.52$5.845.5%
      Fried Chicken $1.39$1.5711.4%
      Milk $4.69$4.670.4%
      Potatoes $4.14$4.9316.0%
      Pizza $12.36$12.092.2%
      Beer $10.75$10.413.3%

      Health Care

      Item Security-Widefield National avg. Difference
      Optometrist $115.89$125.687.8%
      Doctor $148.28$135.789.2%
      Dentist $118.46$113.294.6%
      Ibuprofen $10.72$10.650.6%
      Lipitor $514.89$468.609.9%

      Housing

      Item Security-Widefield National avg. Difference
      Home Price $237,500.00$184,700.0028.6%
      Avg. Mortgage Payment $2,599.40$2,346.6910.8%
      Apartment Rent $1,366.00$949.0043.9%

      Transportation

      Item Security-Widefield National avg. Difference
      Gasoline $3.64$3.465.3%
      Tire Balancing $60.47$59.920.9%

      Utilities

      Item Security-Widefield National avg. Difference
      All Electricity $191.51$193.991.3%
      Phone $189.92$192.251.2%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Stratmoor, CO5,9601066.2%
      Cimarron Hills, CO18,98111211.6%
      Fountain, CO30,24011818.2%
      Colorado Springs, CO471,68611919.3%
      Fort Carson, CO16,24312827.8%
      Security-Widefield, CO38,64511414.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Pacifica, CA38,663219118.5%
      Brookfield, WI38,62612322.6%
      Wheeling, IL38,6841087.7%
      Wausau, WI38,6858415.7%
      Mission Bend, TX38,6931021.6%
      Security-Widefield, CO38,64511414.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.