F
38%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
120%
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 Rock Colorado National
Cost of living138111100
Goods & Services106104100
Groceries105101100
Health care99100100
Housing220134100
Transportation104105100
Utilities8591100

An Overview of Cost of Living in Castle Rock, CO

Knowing the cost of living in Castle Rock allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Castle Rock stands at 138, marking it 38% higher than the national average.

If you're in pursuit of an economical living environment, Castle Rock may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Castle Rock falls within this bracket.

Housing costs are a very significant part of the Castle Rock cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 120.1% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Castle Rock?

The most insightful perspective on a city comes from its residents. We recently surveyed 18 locals to gauge their perception of the cost of living in Castle Rock. The feedback revealed that 22% of respondents found the cost of living to be reasonable, with prices on the decline, while 78% regarded it as notably expensive with prices that continue to rise.

Is Castle Rock Affordable?

Is Castle Rock affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Castle Rock, the median home price is 140.8% higher than the national average and monthly rent prices are 71.8% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Castle Rock boasting a median household income of $113,585, 105.3% higher than the national average.

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

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, 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. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

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 Castle Rock, healthcare costs are 1.3% lower than the national average.

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Where is the Data From?

The Castle Rock cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors 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 Castle Rock is 24% higher than the Colorado average
  • The cost of living in Castle Rock is 38% higher than the national average
  • Castle Rock housing is 120% 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 Rock

See all the best places to live around Castle Rock

Compare Castle Rock, 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$126,299$10,525$2,947$3,789
      Renters$61,197$5,100$1,428$1,836
      To approximate the cost of living and the housing affordability in Castle Rock, 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 Castle Rock have a median income of $126,299. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,947 per month to avoid calamity and poverty. The renters in the city have an income of about $61,197, which would make their monthly maximum allowable rental costs $1,428.

      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 Rock 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 Rock 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 Rock 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 Rock National avg. Difference
      Home Price $444,800.00$184,700.00140.8%
      Avg. Mortgage Payment $3,151.90$2,346.6934.3%
      Apartment Rent $1,630.00$949.0071.8%

      Transportation

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

      Utilities

      Item Castle Rock 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%
      Larkspur, CO244981.8%
      Louviers, CO38111414.3%
      Elizabeth, CO1,75411817.7%
      Dove Valley, CO4,94312221.6%
      Castle Rock, CO65,17613837.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Jupiter, FL65,13912828.0%
      Bayonne, NJ65,11212626.4%
      Medicine Hat, AB65,247n/a 
      Bethesda, MD65,09220099.5%
      Sammamish, WA65,265206105.6%
      Castle Rock, CO65,17613837.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.