Denver Cost of Living

What living in Denver costs

Denver runs at 1.08x the US national average — 20 of the 99 other metros tracked here cost more, 79 cost less. A one-bedroom goes for about $1,550 a month, or $18,600 a year, and the median home sits near $585,000.

The price-to-rent ratio here is roughly 31, which is high. Above about 20, renting and investing the down payment usually beats buying over a normal holding period — the purchase price is steep relative to what the same property earns as a rental.

Working and living here

Denver is a metro of roughly 3.0M and growing steadily, running on aerospace, technology, energy. Larger employers include Lockheed Martin, UCHealth, Ball Corporation.

Colorado taxes income at the state level, and Denver adds no separate city tax. Cost-of-living indexes exclude income tax entirely, so compare after-tax figures rather than index ratios when weighing this metro against one in a no-income-tax state.

Getting around: Denver is served by limited transit. Budget for a car — around $9,000 a year all-in once insurance, fuel, maintenance and parking are counted, a cost the index assumes but does not itemise.

Climate: January highs near 45°F/lows near 19°F with dry snow; July highs near 90°F/lows near 60°F, low humidity, over 300 sunny days a year.

No local income tax, but Denver charges a flat monthly Occupational Privilege Tax (~$5.75/employee) on anyone working in the city, and elevation (5,280 ft) affects some newcomers physically.