F
69%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
229%
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 Boulder Colorado National
Cost of living169111100
Goods & Services104104100
Groceries96101100
Health care89100100
Housing329134100
Transportation109105100
Utilities8891100

An Overview of Cost of Living in Boulder, CO

Are you thinking about relocating, but curious about the potential cost of living in Boulder? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Boulder stands at 169, making it 69% 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 affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Boulder is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Boulder falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs are a major factor in the Boulder 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 229.1% 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 Boulder?

Nobody knows their city better than the people who actually live there. So, we asked 28 local residents how they would rate the cost of living in Boulder and this is how they responded. 29% of people said that the cost of living was affordable, with prices decreasing, while 71% of people said that the cost of living was very expensive and prices continue to rise.

Is Boulder Affordable?

Is Boulder an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Boulder is 298.5% higher than the national average, while the average monthly rent prices are 67.3% higher than average. The affordability of any location can also be influenced by median income levels. Boulder has a median household income of $72,279, which is 30.7% higher than the national average.

What Factors can Influence the Cost of Living in Boulder?

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Boulder, the general sales tax rate starts at 2.9%, and income tax rates begin at 4.4%.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Boulder, the housing index is 229.1% higher than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Where is the Data From?

The cost of living in Boulder, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Boulder is 52% higher than the Colorado average
  • The cost of living in Boulder is 69% higher than the national average
  • Boulder housing is 229% 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 Boulder

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Compare Boulder, 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$122,395$10,200$2,856$3,672
      Renters$42,354$3,530$988$1,271
      A good way to judge both the affordability of the housing and the cost of living in Boulder is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Boulder has a median income of about $122,395 for people who own homes. Based on that number, a maximum of $2,856 should be spent on expenses related to housing. Renters have a slightly different median income, which is $42,354. Based on this average, renters should spend no more than $988 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Boulder National avg. Difference
      Haircut $25.33$24.264.4%
      Beauty Salon $45.45$45.560.3%
      Toothpaste $4.12$3.7011.4%
      Shampoo $1.19$1.286.8%
      Movie $11.09$12.138.6%
      Bowling $22.22$18.0023.5%

      Groceries

      Item Boulder National avg. Difference
      Ground Beef $5.56$5.844.8%
      Fried Chicken $1.43$1.578.9%
      Milk $4.89$4.674.7%
      Potatoes $4.62$4.936.4%
      Pizza $11.06$12.098.5%
      Beer $11.34$10.418.9%

      Health Care

      Item Boulder National avg. Difference
      Optometrist $110.45$125.6812.1%
      Doctor $188.89$135.7839.1%
      Dentist $107.78$113.294.9%
      Ibuprofen $10.80$10.651.4%
      Lipitor $477.35$468.601.9%

      Housing

      Item Boulder National avg. Difference
      Home Price $736,000.00$184,700.00298.5%
      Avg. Mortgage Payment $2,542.08$2,346.698.3%
      Apartment Rent $1,588.00$949.0067.3%

      Transportation

      Item Boulder National avg. Difference
      Gasoline $3.58$3.463.4%
      Tire Balancing $73.58$59.9222.8%

      Utilities

      Item Boulder National avg. Difference
      All Electricity $161.00$193.9917.0%
      Phone $195.56$192.251.7%
      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.
      Eldorado Springs, CO3251000.1%
      Leyner, CO01000.1%
      Gold Hill, CO1951000.1%
      Hidden Lake, CO301000.1%
      Crisman, CO511000.1%
      Boulder, CO108,77716968.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Broken Arrow, OK108,875945.8%
      San Buenaventura (Ventura), CA108,46716464.3%
      Inglewood, CA109,30915757.4%
      Sandy Springs, GA108,18013535.5%
      Hillsboro, OR108,02613232.1%
      Boulder, CO108,77716968.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.