F
67%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
210%
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 Black Forest Colorado National
Cost of living167111100
Goods & Services111104100
Groceries104101100
Health care105100100
Housing310134100
Transportation104105100
Utilities9991100

An Overview of Cost of Living in Black Forest, CO

Are you thinking about relocating, but curious about the potential cost of living in Black Forest? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Black Forest stands at 167, making it 67% 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.

If you value affordability in your search for a new place to live, Black Forest may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Black Forest falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs make up a big chunk of the cost of living in Black Forest, 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 209.6% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Black Forest, you can expect to pay 10.5% more than average for these items, making it a more expensive place to live.

Is Black Forest Affordable?

Is Black Forest an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Black Forest, the median home price is 209.6% higher than what most folks pay across the country, and monthly rent prices are 100% lower than the usual rates. Income levels in Black Forest come in at $119,957, which is 116.8% higher than the national average.

What Factors can Influence the Cost of Living in Black Forest?

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Black Forest, the prevailing sales tax rate starts at 2.9%, and income tax rates kick off at 4.4%.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Black Forest, the housing index stands at 209.6% higher than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Black Forest, healthcare costs are 5.3% higher than the national average.

Where is the Data From?

The Black Forest cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Black Forest is 50% higher than the Colorado average
  • The cost of living in Black Forest is 67% higher than the national average
  • Black Forest housing is 210% 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 Black Forest

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Compare Black Forest, CO Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$126,263$10,522$2,946$3,788
      Renters$60,747$5,062$1,417$1,823
      To approximate the cost of living and the housing affordability in Black Forest, CO, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Black Forest have a median income of $126,263. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,946 per month to avoid calamity and poverty. The renters in the city have an income of about $60,747, which would make their monthly maximum allowable rental costs $1,417.

      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 Black Forest 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 Black Forest 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 Black Forest 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 Black Forest National avg. Difference
      Home Price $571,800.00$184,700.00209.6%
      Avg. Mortgage Payment $2,599.40$2,346.6910.8%
      Apartment Rent $0.00$949.00100.0%

      Transportation

      Item Black Forest National avg. Difference
      Gasoline $3.64$3.465.3%
      Tire Balancing $60.47$59.920.9%

      Utilities

      Item Black Forest 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.
      Peyton, CO01066.4%
      Elbert, CO220982.3%
      Larkspur, CO244981.8%
      Cimarron Hills, CO18,98111211.6%
      Colorado Springs, CO471,68611919.3%
      Black Forest, CO13,10316767.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Sharon, PA13,1018316.6%
      Newton, NC13,106919.2%
      South Daytona, FL13,098955.0%
      Connersville, IN13,0967920.5%
      Coatesville, PA13,096991.1%
      Black Forest, CO13,10316767.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.