Meandering rivers, rocky mountains, and vast canyons paint the landscape of Colorado. While nature lovers flock to the state’s scenic attractions, Colorado’s small towns and bustling urban centers offer their own unique charm.
While some of these towns and cities come with a heavy price tag, there are still plenty of budget-friendly cities in the Centennial State.
So whether you’re planning on relocating, hoping to retire, or simply want an inexpensive home in the mountains, here’s what you need to know about the cost of living in Colorado (complete with a list of 10 cheap places to live in Colorado).
Cost of Living in Colorado
While many of Colorado’s small towns offer affordable prices, the big cities are significantly more expensive. In fact, Boulder and Denver are among the top 25 most expensive cities in the country.
According to LivingCost, the average cost of living for a single person in Denver is $2760, and in Boulder, it’s $2520.
This is significantly higher than the overall average cost of living in the state, which is $2,061, according to Uncover Colorado. However, rural towns, such as Pueblo, Grand Junction, and Greeley, offer a significantly cheaper lifestyle.
Here are some more statistics about living in Colorado:
- Median Home Price: $531,605
- Average Rent Price for a One-Bedroom: Between $1,200 and $1,500
- Population: Approximately 5.8 million
Top 10 Budget-Friendly Cities
Now that you have a general idea of the cost of living in Colorado, here’s a roundup of the top 10 cheapest cities in the state. Here, you’ll also find additional statistics, including home prices and rental costs (according to Zillow, Zumper, or RentHop) as well as population data (from the United States Census Bureau).
Clifton
Image courtesy of Uncover Colorado
Located in Mesa County, Clifton is a laid-back town sprinkled with parks, restaurants, and locally-owned restaurants. On the western edge of the state, the town provides easy access to hiking trails and scenic views. From here, residents and travelers can also easily visit the nearby Colorado National Monument.
- Median Home Price: $296,047
- Average Rent Price for a One-Bedroom: $800
- Population: 20,783
- Closest Big City: Grand Junction (Approx. 7 miles)
Montrose
Image courtesy of Visit the USA
Montrose is a haven for outdoor enthusiasts. Its location near the Black Canyon of the Gunnison National Park offers unparalleled hiking, fishing, and camping opportunities. The city also hosts cultural events, art galleries, and historic downtown attractions.
- Median Home Price: Approximately $423,229
- Average Rent Price for a One-Bedroom: Around $600
- Population: 20,648
- Closest Big City: Grand Junction (Approx. 60 miles)
Evans
Image courtesy of City of Evans, Colorado
Evan’s proximity to larger cities makes it the perfect choice for those who want to experience small-town charm while still enjoying big-city amenities. The town sits in Weld County and offers numerous parks, trails, and community events.
- Median Home Price: Approximately $393,497
- Average Rent Price for a One-Bedroom: $985
- Population: 22,296
- Closest Big City: Denver (Approx. 50 miles)
Fort Morgan
Image courtesy of Uncover Colorado
The most populous city of Morgan County, Fort Morgan is a historic town home to museums and cultural landmarks. Here, you can cross the Platte River on the Rainbow Arch Bridge or catch a show at the Center for Arts & Enrichment. There is a lively music scene and plenty of family-friendly events.
- Median Home Price: $318,927
- Average Rent Price for a One-Bedroom: $800
- Population: 11,439
- Closest Big City: Denver (Approx. 80 miles)
Craig
Image courtesy of Uncover Colorado
Craig is a small agricultural town known as the “elk hunting capital of the world.” It is also a paradise for outdoor enthusiasts, with plenty of hiking, hunting, fishing, and wildlife viewing opportunities. This affordable city hosts local rodeos, museums, and community events celebrating its Western heritage.
- Median Home Price: $287,429
- Average Rent Price for a One-Bedroom: Around $800
- Population: 8,969
- Closest Big City: Grand Junction (Approx. 100 miles)
Sterling
Image courtesy of Uncover Colorado
Sterling is a plains city in northeastern Colorado. Boasting small-town charm, the city features recreational parks, golf courses, and a vibrant art scene. Residents enjoy local festivals, farmer’s markets, and beautiful hiking trails.
- Median Home Price: $239,066
- Average Rent Price for a One-Bedroom: $850
- Population: 13,739
- Closest Big City: Denver (Approx. 130 miles)
Pueblo
Image courtesy of Visit Pueblo.org
Located on the western edge of the Great Plains, Pueblo is a small town with a charming riverwalk and a rich cultural scene. The town boasts 300 days of sunshine and plenty of outdoor recreation, including hiking, mountain biking, and fishing. There are museums, breweries, and a popular zoo.
- Median Home Price: Around $284,857
- Average Rent Price for a One-Bedroom: Approximately $930
- Population: Around 112,000
- Closest Big City: Colorado Springs (Approx. 45 miles)
Grand Junction
Image courtesy of Visit the USA
Grand Junction sits on the western slope of Colorado near the Utah border. The town is surrounded by stunning red rock landscapes, hiking trails, and rugged mountains that beckon nature lovers. The city is also close to the Colorado National Monument and is home to wineries, art galleries, and trendy restaurants.
- Median Home Price: $382,198
- Average Rent Price for a One-Bedroom: $900
- Population: 66,964
- Closest Big City: Denver (Approx. 250 miles)
Greeley
Image courtesy of City of Greeley
Travel to Northern Colorado, and you’ll find Greeley. At the confluence of the South Platte and Cache la Poudre rivers, this town was originally an agricultural development. Today, residents can stroll along the rivers, attend festivals, visit museums, and unwind at one of the town’s breweries. The town is also only a one-hour drive from downtown Denver.
- Median Home Price: $411,873
- Average Rent Price for a One-Bedroom: $1,350
- Population: 109,323
- Closest Big City: Denver (Approx. 60 miles)
Fountain
Image Courtesy of Springs Homes
Located at the base of the majestic Pike’s Peak in El Paso County, Fountain is a friendly small town surrounded by beautiful nature. Residents can fish, hike, or bike in the surrounding area. The town is also home to a small city center with shops, restaurants, and historical sites.
- Median Home Price: $389,428
- Average Rent Price for a One-Bedroom: $1,499.
- Population: 29,677
- Closest Big City: Colorado Springs (Approx. 10 miles)
Keeping Your Cost of Living Down in CO
Of course, living in an affordable town doesn’t automatically guarantee you’ll have more savings. While choosing a budget-friendly location is a good start, other factors, like personal spending habits and lifestyle choices, will also impact your ability to stay within budget.
Here are a couple of tips for keeping costs down in Colorado:
Use Public Transportation
Take advantage of your town’s public transportation, so you save money on gas, Ubers, and other car-related expenses. While the largest public transportation in the state is found in Denver, most communities in Colorado have a regional bus service. There are also intercity bus services offered by carriers such as Burlington Trailways, Bustang. and Greyhound Lines.
Cook at Home
Avoid eating out and get into the habit of cooking at home. Some of the cheapest grocery chains in Colorado include Costco, Sprouts, and Albertsons.
Opt for a Smaller Apartment/Home
Downsizing can help you cut down on the cost of rent. If you’re worried about what to do you with any belongings that don’t fit into your new accommodations, consider renting a storage unit or looking into peer-to-peer storage options, like those offered by Neighbor.
Explore Free Local Activities
There are lots of free things to do in Colorado. There are seven free National Wildlife Refuges in the state that make for a perfect all-day outing. The state is also full of stunning hiking trails, such as those in Garden of the Gods, a free National Natural Landmark. Check out the state’s event calendar to explore other free activities, like festivals, game nights, and light shows.
Helpful Guides for Your Move to the Centennial State
Moving can be stressful. If you’re nervous about your upcoming move, here a couple of helpful guides:
- Moving for Seniors: The Ultimate Guide to Planning a Move
- Moving to a New City – The Before, During, and After
- How to Move to a New State: A Quick Guide
- Dealing With Moving Stress: Tips to Manage Anxiety When Moving
- Best Ways to Move Cross Country: The Complete Guide to an Affordable Cross-Country Move
- How to Pack Dishes for a Move
- How to Move Heavy Furniture by Yourself: A Complete Guide
- The Ultimate Home Inspection Checklist for Buyers
Time to Pack Your Bags!
If one of these affordable places calls your name, check out some real estate websites, like Zillow, Apartments.com, or Craiglist, to see what housing options are available. If you’ve found a new home, it’s time to pack your bags and start your new life in Colorado!
