F
46%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
150%
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 Highlands Ranch Colorado National
Cost of living146111100
Goods & Services106104100
Groceries105101100
Health care99100100
Housing250134100
Transportation104105100
Utilities8591100

An Overview of Cost of Living in Highlands Ranch, CO

Getting a feel for the cost of living in Highlands Ranch is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Highlands Ranch is 146, which is 46% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Highlands Ranch is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Highlands Ranch falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs significantly influence the Highlands Ranch cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 149.5%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Highlands Ranch Affordable?

Is Highlands Ranch 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 Highlands Ranch, the median home price is 167.2% higher than the national average and monthly rent prices are 108.2% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Highlands Ranch boasting a median household income of $127,093, 129.7% higher than the national average.

What Factors can Influence the Cost of Living in Highlands Ranch?

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Highlands Ranch, the housing index is 149.5% higher than the national average.

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.

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 Highlands Ranch, the prevailing sales tax rate starts at 2.9%, and income tax rates kick off at 4.4%.

Where is the Data From?

The Highlands Ranch 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 Highlands Ranch is 32% higher than the Colorado average
  • The cost of living in Highlands Ranch is 46% higher than the national average
  • Highlands Ranch housing is 150% 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 Highlands Ranch

See all the best places to live around Highlands Ranch

Compare Highlands Ranch, 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$137,980$11,498$3,219$4,140
      Renters$88,621$7,385$2,068$2,659
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Highlands Ranch, 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 Highlands Ranch, homeowners have a median income of $137,980. Using that number, a maximum of $3,219 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $88,621, which means there is a maximum of $2,068 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 Highlands Ranch 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 Highlands Ranch 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 Highlands Ranch 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 Highlands Ranch National avg. Difference
      Home Price $493,600.00$184,700.00167.2%
      Avg. Mortgage Payment $3,151.90$2,346.6934.3%
      Apartment Rent $1,976.00$949.00108.2%

      Transportation

      Item Highlands Ranch National avg. Difference
      Gasoline $3.67$3.465.9%
      Tire Balancing $60.05$59.920.2%

      Utilities

      Item Highlands Ranch 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.
      Glendale CDP, CO781022.3%
      Franktown, CO2141022.3%
      Sheridan, CO6,07211312.9%
      Glendale, CO5,18611413.9%
      Louviers, CO38111414.3%
      Highlands Ranch, CO107,01714646.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Daly City, CA107,197205105.3%
      Jurupa Valley, CA106,64613535.4%
      Greeley, CO107,44511111.2%
      Strathcona County, AB106,316n/a 
      Lewisville, TX107,74011615.8%
      Highlands Ranch, CO107,01714646.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.