Berkley 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.
IndexBerkleyColoradoNational
Cost of living index101107100
IndexBerkleyColoradoNational
Goods & Services index103101100
Groceries index10098100
Health care index106104100
Housing index103127100
Transportation index9899100
Utilities index9388100
A general overview of the cost of living index for Berkley, CO is displayed above. In Berkley, CO, the overall cost of living index is 101, which is 6% lower than the Colorado average and 1% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Berkley, CO, the city's goods and services are 2% higher than the Colorado average and 3% higher than the U.S. average.

Did you know?

  • The cost of living in Berkley is 6% lower than the Colorado average.
  • The cost of living in Berkley is 1% higher than the national average.
  • The cost of housing in Berkley is 3% 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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Salary Calculator

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Use the salary calculator to compare your current salary in Berkley, CO to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Berkley, CO, then you would need to earn more income in order to maintain the same standard of living. To use the Berkley, CO salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$55,724$4,644$1,300$1,672
Renters$43,172$3,598$1,007$1,295
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Berkley, CO as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Berkley, CO homeowners, is $55,724. This would allow for a maximum of $1,300 per month to be spent on housing costs. For renters, the median monthly income is $43,172 which would result in a maximum of $1,007 to be spent on rental costs.

Colorado Sales Tax

StateGeneral Sales TaxWith Max Surtax
Colorado2.9%10%

Colorado Income Tax

StateIncome Tax (Low)Income Tax (High)
Colorado4.63%4.63%
The Colorado sales tax and Colorado income tax rates should definitely be considered when determining the overall cost of living in Berkley, CO. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Colorado sales tax is 2.9% and the maximum surtax is 10%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Colorado income tax rates range from 4.63% to 4.63%.

Goods & Services

ItemBerkleyNational avg.Difference
Haircut $17.25$14.5918.2%
Beauty Salon $35.00$34.680.9%
Toothpaste $3.00$2.4721.3%
Shampoo $1.10$1.027.6%
Movie $11.22$9.8713.7%
Bowling $6.75$4.3953.7%

Groceries

ItemBerkleyNational avg.Difference
Ground Beef $5.01$4.4811.9%
Fried Chicken $1.71$1.4616.8%
Milk $2.43$2.363.1%
Potatoes $2.55$3.0616.7%
Pizza $7.99$9.2413.6%
Beer $8.55$8.631.0%

Health Care

ItemBerkleyNational avg.Difference
Optometrist $101.85$99.782.1%
Doctor $124.80$105.0318.8%
Dentist $95.00$88.707.1%
Ibuprofen $9.24$9.411.8%
Lipitor $278.85$298.506.6%

Housing

ItemBerkleyNational avg.Difference
Home Price $176,700.00$175,700.000.6%
Avg. Mortgage Payment $1,348.76$1,081.0324.8%
Apartment Rent $997.00$920.008.4%

Transportation

ItemBerkleyNational avg.Difference
Gasoline $2.00$2.094.6%
Tire Balancing $47.12$45.294.1%

Utilities

ItemBerkleyNational avg.Difference
All Electricity$153.48$170.8010.1%
Phone $27.57$28.262.4%
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.
Federal Heights, CO11,83583-17%
Lakeside, CO490-10%
Derby, CO8,63893-7%
Glendale, CO4,56494-6%
North Washington, CO30395-5%
Berkley, CO11,7061011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Home Gardens, CA11,70111313%
Scotts Valley, CA11,71117474%
Terryville, NY11,68614343%
Hudson, FL11,73092-8%
Magnolia, AR11,68190-10%
Berkley, CO11,7061011%
Source: The Berkley, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.