Before you decide to relocate to Colorado, it’s important to research the exact cost of living around the state. And that’s what we’re going to help you do.
These are the places in Colorado that cost a pretty penny — the most expensive cities in the state.
We used Saturday Night Science to compare the 2018-2022 American Community Survey on cost of living for the 77 places in Colorado with more than 5,000 people.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Colorado for 2024.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Most Expensive Places To Live In Colorado For 2024
What’s the most expensive place to live in Colorado? Well, HomeSnacks crunched the numbers and discovered that Cherry Hills Village is the most expensive place to live in Colorado.
Federal Heights (the cheapest place to live in Colorado) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Colorado and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Colorado For 2024
/10
Population: 6,405
Cost Of Living Index: 232
Median Income: $250,001
Average Home Price: $2,996,340
Home Price To Income Ratio: 12.0x
More on Cherry Hills Village: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Cherry Hills Village is 232. The median income in Cherry Hills Village comes in at $250,001 and the average home value is $2,996,340 for 2024.
/10
Population: 15,537
Cost Of Living Index: 183
Median Income: $139,144
Average Home Price: $1,340,649
Home Price To Income Ratio: 9.6x
More on Greenwood Village: Data | Cost Of Living | Real Estate
The overall cost of living in Greenwood Village is 183. The median income in Greenwood Village comes in at $139,144 and the average home value is $1,340,649 for 2024.
/10
Population: 13,993
Cost Of Living Index: 145
Median Income: $121,066
Average Home Price: $927,299
Home Price To Income Ratio: 7.7x
More on Lone Tree: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Lone Tree is 145. The median income in Lone Tree comes in at $121,066 and the average home value is $927,299 for 2024.
/10
Population: 11,811
Cost Of Living Index: 142
Median Income: $189,280
Average Home Price: $863,001
Home Price To Income Ratio: 4.6x
More on Castle Pines: Data | Cost Of Living | Real Estate
The overall cost of living in Castle Pines is 142. The median income in Castle Pines comes in at $189,280 and the average home value is $863,001 for 2024.
/10
Population: 106,598
Cost Of Living Index: 141
Median Income: $80,243
Average Home Price: $974,246
Home Price To Income Ratio: 12.1x
More on Boulder: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Boulder is 141. The median income in Boulder comes in at $80,243 and the average home value is $974,246 for 2024.
/10
Population: 13,146
Cost Of Living Index: 134
Median Income: $149,464
Average Home Price: $827,554
Home Price To Income Ratio: 5.5x
More on Superior: Data | Cost Of Living | Real Estate
The overall cost of living in Superior is 134. The median income in Superior comes in at $149,464 and the average home value is $827,554 for 2024.
/10
Population: 6,952
Cost Of Living Index: 134
Median Income: $94,338
Average Home Price: $3,293,818
Home Price To Income Ratio: 34.9x
More on Aspen: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Aspen is 134. The median income in Aspen comes in at $94,338 and the average home value is $3,293,818 for 2024.
/10
Population: 6,497
Cost Of Living Index: 134
Median Income: $92,083
Average Home Price: $1,223,499
Home Price To Income Ratio: 13.3x
More on Carbondale: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Carbondale is 134. The median income in Carbondale comes in at $92,083 and the average home value is $1,223,499 for 2024.
/10
Population: 13,251
Cost Of Living Index: 132
Median Income: $93,280
Average Home Price: $1,192,382
Home Price To Income Ratio: 12.8x
More on Steamboat Springs: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Steamboat Springs is 132. The median income in Steamboat Springs comes in at $93,280 and the average home value is $1,192,382 for 2024.
/10
Population: 5,017
Cost Of Living Index: 131
Median Income: $129,481
Average Home Price: $1,130,739
Home Price To Income Ratio: 8.7x
More on Breckenridge: Data | Crime | Cost Of Living | Real Estate
The overall cost of living in Breckenridge is 131. The median income in Breckenridge comes in at $129,481 and the average home value is $1,130,739 for 2024.
Methodology: How We Determined The Most Expensive Places To Live In The Centennial State For 2024
The two most important things to think about when it comes to being able to afford a city in Colorado are:
- How much money do I make?
- How much do I have to spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing, it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2018-2022 around incomes and costs. They are:
- Overall Cost Of Living Index
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
You can then compare these metrics in each of the places in Colorado to figure out which is the most expensive.
You are left with a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index to rank all of the 77 places in Colorado that have more than 5,000 people.
The place with the highest cost of living in Colorado according to the data is Cherry Hills Village. We updated this article for 2024. This article is our tenth time ranking the most expensive places to live in Colorado.
Summary: Taking A Chunk Out Of Your Paycheck In Colorado For 2024
Well, there you have it, the places in Colorado that have the highest cost of living, with Cherry Hills Village ranking as the most expensive city in the Centennial State.
The most expensive cities in Colorado are Cherry Hills Village, Greenwood Village, Lone Tree, Castle Pines, Boulder, Superior, Aspen, Carbondale, Steamboat Springs, and Breckenridge.
Here’s a look at the most affordable cities in Colorado according to the data:
- Federal Heights
- Lamar
- La Junta
For more Colorado reading, check out:
- Best Places To Live In Colorado
- Cheapest Places To Live In Colorado
- Most Dangerous Cities In Colorado
- Best Places To Raise A Family In Colorado
- Safest Places In Colorado
- Worst Places To Live In Colorado
Most Expensive Cities In Colorado
| Rank | City | Cost Of Living | Population | Median Income | Average Home Price | Home/Income Ratio |
|---|---|---|---|---|---|---|
| 1 | Cherry Hills Village | 232 | 6,405 | $250,001 | $2,996,340 | 12.0x |
| 2 | Greenwood Village | 183 | 15,537 | $139,144 | $1,340,649 | 9.6x |
| 3 | Lone Tree | 145 | 13,993 | $121,066 | $927,299 | 7.7x |
| 4 | Castle Pines | 142 | 11,811 | $189,280 | $863,001 | 4.6x |
| 5 | Boulder | 141 | 106,598 | $80,243 | $974,246 | 12.1x |
| 6 | Superior | 134 | 13,146 | $149,464 | $827,554 | 5.5x |
| 7 | Aspen | 134 | 6,952 | $94,338 | $3,293,818 | 34.9x |
| 8 | Carbondale | 134 | 6,497 | $92,083 | $1,223,499 | 13.3x |
| 9 | Steamboat Springs | 132 | 13,251 | $93,280 | $1,192,382 | 12.8x |
| 10 | Breckenridge | 131 | 5,017 | $129,481 | $1,130,739 | 8.7x |
| 11 | Louisville | 130 | 20,920 | $135,840 | $821,232 | 6.0x |
| 12 | Eagle | 127 | 7,481 | $101,373 | $914,956 | 9.0x |
| 13 | Timnath | 126 | 7,122 | $162,976 | $675,800 | 4.1x |
| 14 | Monument | 125 | 10,548 | $102,969 | $712,688 | 6.9x |
| 15 | Centennial | 124 | 107,702 | $124,617 | $630,996 | 5.1x |
| 16 | Erie | 124 | 30,447 | $154,509 | $727,737 | 4.7x |
| 17 | Castle Rock | 122 | 74,065 | $135,985 | $655,932 | 4.8x |
| 18 | Golden | 122 | 20,461 | $90,990 | $820,716 | 9.0x |
| 19 | Durango | 122 | 19,148 | $76,177 | $707,331 | 9.3x |
| 20 | Avon | 121 | 6,115 | $85,817 | $1,150,708 | 13.4x |
| 21 | Parker | 119 | 58,733 | $126,615 | $684,096 | 5.4x |
| 22 | Broomfield | 118 | 73,946 | $117,541 | $637,472 | 5.4x |
| 23 | Glenwood Springs | 117 | 10,100 | $80,806 | $793,858 | 9.8x |
| 24 | Littleton | 116 | 45,531 | $90,273 | $674,009 | 7.5x |
| 25 | Woodland Park | 116 | 7,911 | $89,341 | $534,640 | 6.0x |
| 26 | Gypsum | 115 | 8,291 | $99,726 | $676,112 | 6.8x |
| 27 | Lakewood | 113 | 156,149 | $82,786 | $560,048 | 6.8x |
| 28 | Windsor | 113 | 33,905 | $121,754 | $567,646 | 4.7x |
| 29 | Estes Park | 113 | 5,906 | $63,598 | $687,234 | 10.8x |
| 30 | Denver | 112 | 710,800 | $85,853 | $558,402 | 6.5x |
| 31 | Lafayette | 112 | 30,295 | $105,819 | $684,062 | 6.5x |
| 32 | Fort Collins | 111 | 168,758 | $78,977 | $545,188 | 6.9x |
| 33 | Arvada | 110 | 123,066 | $106,014 | $594,157 | 5.6x |
| 34 | Firestone | 110 | 16,704 | $106,960 | $562,511 | 5.3x |
| 35 | Commerce City | 109 | 63,050 | $96,484 | $497,543 | 5.2x |
| 36 | Frederick | 109 | 15,037 | $128,078 | $545,237 | 4.3x |
| 37 | Severance | 109 | 8,526 | $121,047 | $494,757 | 4.1x |
| 38 | Colorado Springs | 108 | 479,612 | $79,026 | $440,298 | 5.6x |
| 39 | Longmont | 108 | 98,282 | $89,720 | $540,403 | 6.0x |
| 40 | Englewood | 108 | 33,634 | $79,375 | $522,702 | 6.6x |
| 41 | Wheat Ridge | 107 | 32,263 | $79,567 | $594,883 | 7.5x |
| 42 | Edgewater | 107 | 5,002 | $71,964 | $592,807 | 8.2x |
| 43 | Fountain | 106 | 29,498 | $80,311 | $389,428 | 4.8x |
| 44 | Salida | 106 | 5,697 | $63,775 | $666,776 | 10.5x |
| 45 | Westminster | 105 | 115,502 | $90,651 | $521,670 | 5.8x |
| 46 | Wellington | 105 | 11,163 | $101,259 | $466,351 | 4.6x |
| 47 | Berthoud | 105 | 10,892 | $101,817 | $592,425 | 5.8x |
| 48 | Loveland | 104 | 76,500 | $81,898 | $487,758 | 6.0x |
| 49 | Thornton | 103 | 141,799 | $95,064 | $512,505 | 5.4x |
| 50 | Fruita | 103 | 13,462 | $71,550 | $430,521 | 6.0x |
| 51 | Aurora | 102 | 387,349 | $78,685 | $472,149 | 6.0x |
| 52 | Gunnison | 102 | 6,629 | $63,229 | $564,780 | 8.9x |
| 53 | Eaton | 101 | 5,763 | $102,314 | $454,752 | 4.4x |
| 54 | Grand Junction | 100 | 65,918 | $62,993 | $382,198 | 6.1x |
| 55 | Rifle | 100 | 10,420 | $72,955 | $439,901 | 6.0x |
| 56 | Lochbuie | 100 | 7,963 | $84,556 | $457,546 | 5.4x |
| 57 | Brighton | 99 | 40,569 | $86,975 | $497,256 | 5.7x |
| 58 | Northglenn | 99 | 37,948 | $77,797 | $459,707 | 5.9x |
| 59 | Milliken | 99 | 8,438 | $96,772 | $443,483 | 4.6x |
| 60 | Sheridan | 99 | 6,062 | $53,707 | $424,232 | 7.9x |
| 61 | Dacono | 98 | 6,260 | $94,783 | $483,988 | 5.1x |
| 62 | Montrose | 96 | 20,394 | $60,132 | $423,228 | 7.0x |
| 63 | Delta | 96 | 9,137 | $45,950 | $335,333 | 7.3x |
| 64 | Greeley | 95 | 107,949 | $65,525 | $411,873 | 6.3x |
| 65 | Craig | 94 | 9,013 | $52,443 | $287,429 | 5.5x |
| 66 | Evans | 93 | 22,092 | $75,544 | $388,506 | 5.1x |
| 67 | Fort Lupton | 93 | 8,164 | $71,293 | $451,653 | 6.3x |
| 68 | Cortez | 91 | 8,832 | $55,962 | $301,599 | 5.4x |
| 69 | Trinidad | 90 | 8,334 | $47,908 | $242,035 | 5.1x |
| 70 | Brush | 90 | 5,304 | $64,475 | $289,894 | 4.5x |
| 71 | Pueblo | 89 | 111,430 | $52,794 | $286,223 | 5.4x |
| 72 | Alamosa | 89 | 9,792 | $50,239 | $284,458 | 5.7x |
| 73 | Sterling | 87 | 13,466 | $44,556 | $239,066 | 5.4x |
| 74 | Fort Morgan | 86 | 11,501 | $55,407 | $318,927 | 5.8x |
| 75 | La Junta | 84 | 7,244 | $50,799 | $154,737 | 3.0x |
| 76 | Lamar | 83 | 7,667 | $48,422 | $167,777 | 3.5x |
| 77 | Federal Heights | 82 | 14,173 | $56,316 | $401,479 | 7.1x |