11 Cheapest Places to Live in Colorado with the Lowest Cost of Living
Colorado can be a great place if you are looking to move to a state where you can enjoy amazing weather, plenty of outdoor activities, sports, food, and cultural activities. Not only these, but Colorado also maintains a steady graph of job opportunities, especially in the software, high-tech, aviation, and healthcare industries.
All these made Colorado one of the fastest-growing states in the US that results in skyrocketing prices of real estate. Don’t worry, we’ve got you covered! In this article, we’ll take you on a tour of the best low-cost living options in Colorado. So, let’s dive in and explore the cheapest places to live in Colorado that won’t break the bank!
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And that’s not all, we’ll also dive into the pros and cons of living in Colorado, so you can make an informed decision about your move. Colorado is now becoming very popular among retirees, students, digital nomads, and ex-pats.
You should know the best reasons why Colorado is so famous among all. So, if you are planning to enjoy the Colorado lifestyle at a lower price, let’s have a look at the most affordable places to live in Colorado where you can make your next dream home.
We created this list taking into account the median housing price, cost of living in Colorado, average crime rate, and other critical factors which make a place liveable.
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Located in Prowers County, this small Colorado town is one of the safest and most inexpensive places to live in Colorado. The close proximity to Pueblo and Colorado Springs is another reason for keeping this city at the top of the list. Quiet and rural, Lamar is a wonderful city for families with a variety of parks and a strong sense of community. The crime rate is lower than the national average.
The city is located in the rural part of the state. However, the huge job opportunities in the trucking industry, medical and mountain bike mechanic profession make this an ideal place for families, students, and expats. The median income and home value are lower than the state average.
The median income: $45,000
The median home value: $220,000
Lamar is filled with a lot of natural trails, State Parks, and golf courses. You can see here 1907 train depot, along with a 100-year-old train engine, a windmill, and a vintage water tank.
It is also known as one of the best birding spots in Colorado. You will definitely love to explore John Martin Reservoir State Park, a perfect getaway for nature lovers.
Cost of Living in Lamar
The overall cost of living is lower than the state and country average. If you are planning to own a house in Colorado, Lamar should be at the top of your list as housing cost is 50% lower than the national average. The grocery items and food costs are also affordable in Lamar. Expect to pay around $1900-2200 per month to live a comfortable life in Lamar.
Just one downside is that the state income tax in Colorado is 88% higher than the national average.
One of the least expensive areas to live in Colorado is Cortez, which is situated in the state’s southwest. Residents enjoy an economical lifestyle with access to the natural splendor of nearby Mesa Verde National Park thanks to a cost of living that is over 20% cheaper than the national average.
The town also boasts a strong sense of community, with regular events like the Farmers Market and local festivals. Despite being a small town, Cortez contains everything you could possibly need, including a hospital, a community college, and a wide selection of stores and eateries.
Overall, Cortez is a great option for anybody looking for a tight-knit community at a reasonable price in the heart of Colorado outdoors.
- Ancient ruins and unusual geologic formations can be found at Canyons of the Ancients National Monument.
- San Juan National Forest provides hiking, camping, and mountain biking activities.
- The Cortez Cultural Centre presents artwork, musical productions, and dance performances that highlight the history and culture of the area.
- Phil’s World, a popular mountain biking trail system with stunning views of the La Plata Mountains
- Hovenweep National Monument, featuring ancient Puebloan ruins and impressive stonework architecture
Cost of Living in Cortez
The cost of living in Cortez is significantly lower than the national average, making it an affordable option for those looking to relocate to Colorado. With typical property prices far lower than the state average, housing is especially inexpensive. Healthcare, transportation, and utility prices are all below the national average. There are many local options for fresh vegetables and other things, and grocery prices are likewise reasonably priced.
The median home price in Cortez is around $276,000 and the median household income is around $52,000.
Located at the border of New Mexico, Trinidad is a unique and interesting place in Colorado where you would like to spend the rest of your life. This lively city features an eclectic family-oriented community.
Although the crime rate in Trinidad is higher than the national average, varieties of outdoor activities are one of the reasons to keep this city on this list of “cheapest places in Colorado to live in”. Trinidad has great job opportunities in the tourism and cannabis industries.
There are plenty of hiking and biking trails in Trinidad. The spectacular views of Trinidad Lake State Park are incredible. You can enjoy fishing, boating, or camping in the lap of nature. The locals and visitors love to explore the mountains and ski resorts around. The city is also known as “Weed Town of the USA” for its over 30 dispensaries.
Cost of Living in Trinidad
Trinidad has a very less population of 8500 residents. Due to its lower home value and cheap grocery and utility cost, Trinidad is much cheaper than other places in Colorado. A family of four can expect to spend around $2700-2900 monthly whereas a single person can live here with just $1500 per month.
4. Colorado Springs
Looking for a safe place to live in Colorado where newcomers can enjoy every weekend without going far from their hometown, Colorado Springs is worth considering.
Nestled in the foothills of gorgeous Pike’s Peak, America’s “purple mountain majesty,” Colorado Springs is a dream destination that offers the most dramatic view along the Front Range. Colorado Springs is not only the second-largest city in the state but also one of the best places to live in Colorado.
Thanks to its friendly neighborhood and diverse culture which make it ideal for families and digital nomads. Colorado Springs is home to 464,480 people and more moving here every day from nearby California and Texas states. The best thing is that the city has huge potential to grow economically and it is growing rapidly.
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Colorado Springs is one of the best and cheapest honeymoon destinations in the United State. This southern Colorado town features majestic mountain views, hiking trails, biking paths, and some spectacular city parks where you can spend your weekend evenings. Check out our this article on the 10 best hikes in Colorado Springs.
Pikes Peak at 14,115 feet is one of the most beautiful tourist attractions in Colorado Springs. There are several museums that you can explore here. You can also read 2 days in Colorado Springs itinerary for a perfect weekend trip.
Cost of Living in Colorado Springs
If you are searching for the cheapest places to rent in Colorado, I will highly recommend Colorado Springs. Despite being a populous city, the living cost in Colorado Springs is affordable. From housing expenses to utility bills, healthcare, goods, and services, everything is quite inexpensive in Colorado Springs. With a monthly expenditure of $2400, an expat can live a happy life with all the basic amenities.
Aurora is on our list of the cheapest cities in Colorado. It is a suburb of Denver but it has its own charm. More than 400,000 people call this area home. The city boasts plenty of museums, city parks, restaurants, and various types of things to do.
Read Also: How to Spend a Romantic Getaway in Colorado Springs
The proximity to the Denver International Airport, lower than average crime rate, and numerous job opportunities are the reasons for the rapid growth of this suburb. University of Colorado’s medical campus and Buckley Air Force Base are two large employers in Aurora. Undoubtedly, a safe and affordable place to live near Denver metropolitan area.
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If you live near Aurora, check out the Cherry Creek State Park and enjoy hiking, biking, and walking trails, as well as a marina. Aurora Reservoir is also nearby where you can go for swimming, fishing, and kayaking.
Cost of Living in Aurora
The average cost of living in Aurora for an expat is around $2000-2300 per month. You can get a 1 bedroom studio at $1300-1500. Utility cost is a little bit higher though, but grocery, goods, and healthcare services are affordable.
With a population of about 1,11,500 Pueblo made it on our list of the cheapest places in Colorado to live. The city is safe for newcomers, clean, and mostly known for its delicious Mexican foods, mesmerizing views of Lake Pueblo State Park, green chilly farms, and pleasantly warm weather.
If you are a student or a family man with kids, Pueblo could be a great choice for you as the town provides the best education facilities in Colorado. Being one of the largest steel-producing areas in the country, Pueblo has a lot of job opportunities.
Summer and fall season is the best time for the farmer’s market. Pueblo is filled with a variety of cafes, bars, and restaurants that you can enjoy throughout the year. Don’t miss the chance to take part in local events like the Colorado State Fair in late summer, annual Chile & Frijoles Festival.
Lake Pueblo State Park, Mesa Verde National Park, and Arkansas River are not only local favorites but also liked by tourists. You can enjoy here various types of adventure activities in summer.
Cost of Living in Pueblo
Pueblo’s housing market is pretty inexpensive. Do you know that 86% of homes in Pueblo come under $250,000? If you are looking to spend your retired life in Pueblo, you have already taken a good decision. The cost of living, utilities, healthcare, and transportation is much lower than the national average.
7. Canon City
Located at the base of the Rocky Mountains, Canon City is clean, safe, and inviting with amazing job opportunities. The inexpensive median home value and comparatively lower crime rate make it one of the most affordable places to live in Colorado.
Each year, many adventure-loving people are moving to this beautiful Colorado city to enjoy plenty of adventure activities and outdoor recreation. The close proximity to Colorado Springs and Pueblo makes it more appealing for families, students, and digital nomads.
Canon City is an adventurer’s paradise. Enjoy hiking, mountain biking, and whitewater rafting along the Arkansas River in summer. The city offers amazing fall colors during the fall season. It has ample well-maintained city parks. However, the main attraction is the Royal Gorge Bridge and the Royal Gorge Route Railroad.
Cost of Living in Canon City
Housing, and transportation cost is lower than the state average and national average. Utility cost is a little bit higher though, but overall the cost of living in Canon City is quite affordable.
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8. Grand Junction
Knowing for endless outdoor activities, vineyards, and breweries, Grand Junction is one of the cheapest places to live in Colorado. It is located near the border of western Colorado which makes it easy to travel to other areas.
Grand Junction is home to around 63,000 people, and it has all the restaurants, breweries, grocery stores, and other amenities you could want. Grand Junction is one of the safest cities in Colorado which makes it appealing to female students, nomads, and expats. The unemployment rate in Grand Junction is very low.
You will find here endless hiking trails throughout the Grand Valley and lots of dog-friendly areas. Grand Junction has the popular Colorado National Monument which is known for the most scenic road cycling events in America.
Colorado River runs through the city, making it a great place for camping, hiking, kayaking, paddleboarding, and other outdoor activities for thrill-seekers. The city also features some of the best golf courses in Colorado.
Cost of Living in Grand Junction
Housing and transportation cost is very affordable in Grand Junction. If you are looking for a cheap place to rent in Colorado, consider Grand Junction to make your new home. An expat needs to spend around $2200 per month to live here. It may be favorable for some individuals, but not all. Families can expect a monthly expenditure of around $4000. It is all about your preferences and needs.
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With endless trails, major employers, innovative craft breweries, and breathtaking views of Longs Peak, Longmont is one of the cheapest towns to live in Colorado. This is a true Colorado hidden gem that has ample opportunities for outdoor recreation. Unsurprisingly, Longmont is still a great place to buy a house at an affordable price.
Some popular schools such as the Colorado State University, Colorado School of Mines, and the University of Colorado Boulder are not far away from Longmont. Many tech companies love this city which results in ample job opportunities. It is one of the top growing cities in America. The population in Longmont is around 95,000 and the unemployment rate is 3%.
Check out the beautiful downtown, art galleries, restaurants, and shops in Longmont. The city boasts various music venues, breweries, gaming arcades, and a popular skydiving center. Numerous hiking paths, biking trails, and city parks offer plenty of outdoor adventure opportunities.
Cost of Living in Longmont
Who doesn’t like to live in the shadow of the mountains and that too at a very affordable price? Despite being a fast-growing suburb with majestic mountain views, Longmont is still very affordable. The median house price in Longmont is half of the Boulder area. You can find a home in Longmont for under $350k.
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What could be more beautiful than looking out your windows to gorgeous Rocky Mountain view every morning? Westminster is not only a quaint pretty city but also one of the best places in Colorado to live in on a budget.
Located in the northwest of Denver, this suburb is a family-oriented community that features low crime, fantastic scenery, a thriving dining scene, great shopping opportunities, and plenty of outdoor activities.
From hiking and mountain biking to boating and fishing, Westminster boasts countless outdoor activities. You can visit the Butterfly Pavilion for a unique experience or check out Standley Lake Region Park, Westminster Center Park where you can have a hearty time.
Cost of Living in Westminster
Although the cost of living in Westminster is a bit higher than the national average, but the quality of life is pretty good and probably the best on this list. The median home price is around $550,500. You can rent a one-bedroom apartment in Westminster for under $1400.
With a lower cost of living and great employment opportunities, Thornton welcomes retirees, families, students, and expats looking to live an inexpensive and simpler life. The city has a well-connected transport facility near Denver International Airport.
Thornton has more than 25,000 trades with diverse employment. Washington Square Business Park is the hub of hundreds of companies that keep the local economy thriving.
Thornton is an extremely safe city in Colorado and it has a lot of parks and open space for outdoor activities. Education and healthcare services are also standard. The city has 20 elementary schools, 12 middle schools, and 8 high schools.
Check out Mid-Air Adventures, a perfect place for adventure enthusiasts. It features rope bridges, zip lines, and a large rock climbing wall. Thornton is popular for various winter activities like skateboarding, snowboarding, skiing, and tumbling. If you are a beginner, Thornton could be the best place to learn skiing and skateboarding.
Thornton hosts many festivals throughout the year in which Colorado Shakespeare Festival is one of the best festivals that you shouldn’t miss.
Living Cost in Thornton
The cost of living in Thornton is very affordable compared to nearby Denver city. The median family income in the area is $66,160 and the median home price is $500,300. If you are looking to rent rather than purchase a house, the average one-bedroom space in Thornton starts at $1400.
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