The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. The assumption is the sole provider is working full-time (2080 hours per year).
Typical Annual Salaries.
| Occupational Area | Typical Annual Salary |
|---|---|
| Transportation & Material Moving | $33,234 |
What is a livable salary in Colorado Springs?
The median income in Colorado Springs is $67,719. However, you can live comfortably if you only spend 30% of your take home pay on rent. If you rent a one bedroom apartment in Colorado Spring for $1,154, you need a salary of $46,160 to live comfortably.
What is considered a good salary in Colorado Springs?
A good salary in Colorado Springs, CO is anything over $41,000. That’s because the median income in Colorado Springs is $41,000, which means if you earn more than that you’re earning more than 50% of the people living in Colorado Springs. The average salary in Colorado Springs is $47,359.
How much do you need to make an hour to live comfortably in Colorado?
Living Wage Calculation for Denver County, Colorado
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 0 Children | |
| Living Wage | $20.61 | $30.90 |
| Poverty Wage | $6.19 | $8.38 |
| Minimum Wage | $12.56 | $12.56 |
How much does a single person need to make to live in Colorado?
How much do you need to earn to live in Colorado? According to data from HowMuch.net, in order to comfortably afford to live in Colorado, you have to earn over $100,200 annually. This works out to earning about $8,350 per month.
Is it cheap to live in Colorado Springs?
Is it expensive to live in Colorado Springs? Actually, the cost of living here is 6% lower than the national average and 16% lower than close-by Denver. The average Colorado Springs utility bill is 26% lower than other parts of the country, and housing is about 2% lower.
What’s the cheapest city to live in in Colorado?
10 Most Affordable Places to Live in Colorado
- Federal Heights. Topping the list of the most affordable city in Colorado is Federal Heights, a suburb of Denver.
- Lamar.
- Brush.
- Fort Morgan.
- Sterling.
- Trinidad.
- Pueblo.
- Clifton.
What is a living wage in Colorado?
$15.87 an hour on Jan. 1, 2022; and. Annual adjustments based on the Consumer Price Index each year thereafter.
What is the average wage in Colorado Springs?
Workers in the Colorado Springs, CO Metropolitan Statistical Area had an average (mean) hourly wage of $26.70 in May 2020, which compared to the nationwide average of $27.07, the U.S. Bureau of Labor Statistics reported today.
What is minimum wage for Colorado Springs?
$12.56
For 2022, the Colorado state minimum wage rate is $12.56.
Minimum Wage History.
| EFFECTIVE DATE | MINIMUM WAGE | TIPPED EMPLOYEE MINIMUM WAGE |
|---|---|---|
| January 1, 2020 | $12.00 | $8.98 |
| January 1, 2019 | $11.10 | $8.08 |
| January 1, 2018 | $10.20 | $7.18 |
| January 1, 2017 | $9.30 | $6.28 |
Is 18 dollars an hour a good wage?
The $18 per hour wage falls within the second and most common hourly rate range in the US. As it’s far enough from the minimum wage, it can be considered good money.
What is Colorado Minimum Wage?
$12.56
DENVER, Colo. — The new Colorado minimum wage will rise on January 1, 2022, to $12.56 or $9.54 for those receiving enough in tips for total pay to meet or exceed the full minimum wage.
How much does it cost to live in Colorado per month?
For a single person, the average cost of living in Denver Colorado is $2,061 per month. That figure jumps to $4,703 for a family of four.
Is moving to Colorado worth it?
Residents live a healthy lifestyle
Consider moving to Colorado. Thanks to the state’s endless number of outdoor activities, healthy food options and health-focused culture, Colorado is one of the healthiest states in the country. According to Mind Body Green, the state also has the lowest obesity rate in the country.
Is it cheap to live in Colorado?
Colorado has been ranked as one of the top 10 most expensive states to live in by U.S. News & World Report. This is mainly due to the fact that housing in Colorado is 34% more expensive than the rest of the United States. You can expect to pay about $1300 per month for rent or $1,750 for a mortgage.
Is rent expensive in Colorado?
Under 40% of Colorado residents choose to rent, as renting in the state is slightly more expensive than the rest of the country. According to 2019 data from Apartment List, a two bedroom apartment in Colorado has a median rent of $1,305, which is $130 above the national median.
Why is rent so high in Colorado Springs?
“Essentially what we found is that rent is going up so quickly, because people are leaving major metropolitan cities like LA, NYC and Boston and moving to places like Colorado Springs. That has really driven the cost up, when we look at Colorado specifically. Back to the basics of supply and demand.
Where is the cheapest place to live near Colorado Springs?
Consider these five safe, affordable neighborhoods in Colorado Springs before you settle down!
- Briargate.
- Northeast Colorado Springs.
- Northgate.
- Northwest Colorado Springs.
- Old Colorado City.
Is Colorado cheaper than California?
While the cost of living in Colorado is 31% higher than the national average it is still 35-40% cheaper than California. The price of new homes is higher than other states but rental prices are quite affordable and utility costs are much lower.
What state has the lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
What city has the lowest cost of living?
Wichita Falls, Texas, was named the city with the lowest cost of living. Visit Business Insider’s homepage for more stories.
