Cost of Living in Johnstown, CO

An Overview of Cost of Living in Johnstown, CO

Knowing the cost of living in Johnstown 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 Johnstown stands at 125, marking it 25% higher than the national average.

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

Housing costs are a very significant part of the Johnstown 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 84.9% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is Johnstown Affordable?

Is Johnstown 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 Johnstown, the median home price is 97.1% higher than what most folks pay across the country, and monthly rent prices are 56.4% higher than the usual rates. Income levels in Johnstown come in at $115,069, which is 108% higher than the national average.

What Factors can Influence the Cost of Living in Johnstown?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Johnstown, the transportation index is 8.5% higher than the national average.

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 Johnstown, the housing index is 84.9% higher than the national average.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Johnstown, healthcare costs are 11.1% lower than the national average.

Where is the Data From?

The Johnstown 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.