Cost of Living in Pueblo, CO

An Overview of Cost of Living in Pueblo, CO

The cost of living in Pueblo affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Pueblo is 94, which is 6% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Pueblo closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Pueblo can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

What Do Locals Say About the Cost of Living in Pueblo?

Nobody knows their city better than the people who actually live there. So, we asked 44 local residents how they would rate the cost of living in Pueblo and this is how they responded. 32% of people said that the cost of living was affordable, with prices decreasing, while 68% of people said that the cost of living was very expensive and prices continue to rise.

Is Pueblo Affordable?

Is Pueblo affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Pueblo, for instance, where the median home price falls 19% lower than the national average, and monthly rent rates are 13% lower than usual. Additionally, median income levels contribute to the equation, with Pueblo flaunting a median household income of $42,902, 22.5% lower than the national norm.

What Factors can Influence the Cost of Living in Pueblo?

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Pueblo, the transportation index is 0.4% 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.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Pueblo comes in at 6% lower than the national average.

Where is the Data From?

The Pueblo 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. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.