Basalt cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBasaltColoradoNational
Cost of living index151107100
IndexBasaltColoradoNational
Goods & Services index114101100
Groceries index10198100
Health care index113104100
Housing index248127100
Transportation index13399100
Utilities index8288100
Here we can see a simple outline of the cost of living in Basalt, CO. As you can see, with the average cost of living in Basalt, CO being 151, that puts it 41% higher than the average of Colorado and 51% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Basalt, CO, the price of goods and services are 13% higher than the average of Colorado as well as 14% higher than the nation's average.

Did you know?

  • The cost of living in Basalt is 41% higher than the Colorado average.
  • The cost of living in Basalt is 51% higher than the national average.
  • The cost of housing in Basalt is 148% higher than the national average.
  • Colorado general sales tax is 43% lower than the national average.
  • Colorado state income tax is 108% higher than the national average.

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Compare Basalt, CO Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Basalt, CO to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Basalt, CO, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Basalt, CO salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$71,216$5,935$1,662$2,137
Renters$61,088$5,091$1,425$1,833
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Basalt, CO, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Basalt, CO homeowners have a median income of $71,216. Using that number, you will come up with a maximum of $1,662 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $61,088, which means there is a maximum of $1,425 to be spent on the costs of renting a home or apartment.

Colorado Sales Tax

StateGeneral Sales TaxWith Max Surtax
Colorado2.9%10%

Colorado Income Tax

StateIncome Tax (Low)Income Tax (High)
Colorado4.63%4.63%
One thing to keep in mind when considering the cost of living in Basalt, CO is the Colorado sales tax and Colorado income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Colorado sales tax rate is 2.9% and the maximum surtax that can be charged is 10%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Colorado income tax rates range from 4.63% to 4.63%.

Goods & Services

ItemBasaltNational avg.Difference
Haircut $17.00$14.5916.5%
Beauty Salon $40.00$34.6815.3%
Toothpaste $3.34$2.4735.0%
Shampoo $1.04$1.021.8%
Movie $9.75$9.871.2%
Bowling $5.00$4.3913.9%

Groceries

ItemBasaltNational avg.Difference
Ground Beef $4.74$4.485.9%
Fried Chicken $2.24$1.4653.0%
Milk $2.19$2.367.1%
Potatoes $2.49$3.0618.7%
Pizza $11.00$9.2419.0%
Beer $9.19$8.636.5%

Health Care

ItemBasaltNational avg.Difference
Optometrist $159.00$99.7859.4%
Doctor $120.00$105.0314.2%
Dentist $102.50$88.7015.6%
Ibuprofen $8.67$9.417.9%
Lipitor $306.77$298.502.8%

Housing

ItemBasaltNational avg.Difference
Home Price $483,400.00$175,700.00175.1%
Avg. Mortgage Payment $1,716.00$1,081.0358.7%
Apartment Rent $1,700.00$920.0084.8%

Transportation

ItemBasaltNational avg.Difference
Gasoline $3.00$2.0943.4%
Tire Balancing $47.12$45.294.1%

Utilities

ItemBasaltNational avg.Difference
All Electricity$152.36$170.8010.8%
Phone $19.99$28.2629.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Redstone, CO1011010%
Cattle Creek, CO85389-11%
El Jebel, CO3,45013434%
No Name, CO19212828%
Aspen, CO6,70014141%
Basalt, CO3,89115151%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lansford, PA3,89193-7%
Wolfforth, TX3,89190-10%
Smithville, TX3,89090-10%
Farmerville, LA3,89279-21%
Aliceville, AL3,89283-17%
Basalt, CO3,89115151%
Source: The Basalt, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.