F
60%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
194%
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 Castle Pines Colorado National
Cost of living160111100
Goods & Services106104100
Groceries105101100
Health care99100100
Housing294134100
Transportation104105100
Utilities8591100

An Overview of Cost of Living in Castle Pines, CO

Understanding the cost of living in Castle Pines 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 Castle Pines cost of living index is 160, which is 60% 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.

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 Castle Pines 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, Castle Pines falls into this category, which may not align with your goal of finding a budget-friendly living environment.

When it comes to the cost of living in Castle Pines, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 194.3% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Is Castle Pines Affordable?

Is Castle Pines 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 Castle Pines, the median home price is 253.2% higher than what most folks pay across the country, and monthly rent prices are 56.9% higher than the usual rates. Income levels in Castle Pines come in at $178,036, which is 221.8% higher than the national average.

What Factors can Influence the Cost of Living in Castle Pines?

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Castle Pines, the housing index comes in at 194.3% higher 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 Castle Pines, healthcare costs are 1.3% lower than the national average.

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 Castle Pines, the general sales tax rate starts at 2.9%, and income tax rates begin at 4.4%.

Where is the Data From?

The Castle Pines 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Castle Pines is 44% higher than the Colorado average
  • The cost of living in Castle Pines is 60% higher than the national average
  • Castle Pines housing is 194% 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 Castle Pines

See all the best places to live around Castle Pines

Compare Castle Pines, 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$192,957$16,080$4,502$5,789
      Renters$59,539$4,962$1,389$1,786
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Castle Pines, CO, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Castle Pines, homeowners have a median income of $192,957. Using that number, a maximum of $4,502 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $59,539, which means there is a maximum of $1,389 to be spent on the costs of renting a home or apartment.

      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 Castle Pines National avg. Difference
      Haircut $26.81$24.2610.5%
      Beauty Salon $50.45$45.5610.7%
      Toothpaste $3.70$3.700.1%
      Shampoo $1.27$1.281.1%
      Movie $14.70$12.1321.1%
      Bowling $21.40$18.0018.9%

      Groceries

      Item Castle Pines National avg. Difference
      Ground Beef $5.23$5.8410.4%
      Fried Chicken $1.40$1.5711.2%
      Milk $4.74$4.671.4%
      Potatoes $4.30$4.9312.9%
      Pizza $12.87$12.096.5%
      Beer $10.67$10.412.5%

      Health Care

      Item Castle Pines National avg. Difference
      Optometrist $121.38$125.683.4%
      Doctor $116.64$135.7814.1%
      Dentist $126.27$113.2911.5%
      Ibuprofen $10.88$10.652.1%
      Lipitor $447.94$468.604.4%

      Housing

      Item Castle Pines National avg. Difference
      Home Price $652,300.00$184,700.00253.2%
      Avg. Mortgage Payment $3,151.90$2,346.6934.3%
      Apartment Rent $1,489.00$949.0056.9%

      Transportation

      Item Castle Pines National avg. Difference
      Gasoline $3.67$3.465.9%
      Tire Balancing $60.05$59.920.2%

      Utilities

      Item Castle Pines National avg. Difference
      All Electricity $145.02$193.9925.2%
      Phone $194.36$192.251.1%
      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.
      Franktown, CO2141022.3%
      Sheridan, CO6,07211312.9%
      Louviers, CO38111414.3%
      Elizabeth, CO1,75411817.7%
      Dove Valley, CO4,94312221.6%
      Castle Pines, CO10,97716059.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      North Logan, UT10,97811515.2%
      Damascus, OR10,97314444.4%
      Waimea, HI10,96917574.9%
      Morgan City, LA10,9638614.0%
      Grand Haven, MI10,991937.3%
      Castle Pines, CO10,97716059.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.