Cañon City 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.
IndexCañon CityColoradoNational
Cost of living index90107100
IndexCañon CityColoradoNational
Goods & Services index96101100
Groceries index9598100
Health care index103104100
Housing index80127100
Transportation index8499100
Utilities index8888100
A general summary of the cost of living index in Cañon City, CO is shown above. Compared to the state average of Colorado the cost of living index in Cañon City, CO is 90, which is 16% lower than the average in Colorado and compared to the national average it is 10% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Cañon City, CO goods and services come in at 5% lower than the average in Colorado and are 4% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Cañon City is 16% lower than the Colorado average.
  • The cost of living in Cañon City is 10% lower than the national average.
  • The cost of housing in Cañon City is 20% lower 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 Cañon City, CO Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in Cañon City, CO would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Cañon City, CO, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Cañon City, CO salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$46,239$3,853$1,079$1,387
Renters$24,144$2,012$563$724
One can approximate the cost of living and the housing affordability in Cañon City, CO by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Cañon City, CO have a median income of $46,239. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,079 per month to avoid calamity and poverty. The renters in the city have an income of about $24,144, which would make their monthly maximum allowable rental costs $563.

Colorado Sales Tax

StateGeneral Sales TaxWith Max Surtax
Colorado2.9%10%

Colorado Income Tax

StateIncome Tax (Low)Income Tax (High)
Colorado4.63%4.63%
When assessing the complete cost of living in Cañon City, CO, the Colorado income tax and the Colorado sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Colorado maximum surtax is 10%, and the Colorado sales tax is 2.9%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 4.63% to 4.63% in Colorado.

Goods & Services

ItemCañon CityNational avg.Difference
Haircut $13.20$14.599.5%
Beauty Salon $36.40$34.685.0%
Toothpaste $3.35$2.4735.4%
Shampoo $0.95$1.027.0%
Movie $9.65$9.872.2%
Bowling $3.35$4.3923.7%

Groceries

ItemCañon CityNational avg.Difference
Ground Beef $4.71$4.485.2%
Fried Chicken $1.06$1.4627.6%
Milk $2.12$2.3610.0%
Potatoes $2.45$3.0620.0%
Pizza $8.40$9.249.1%
Beer $7.87$8.638.8%

Health Care

ItemCañon CityNational avg.Difference
Optometrist $106.00$99.786.2%
Doctor $112.80$105.037.4%
Dentist $90.60$88.702.1%
Ibuprofen $9.66$9.412.6%
Lipitor $295.27$298.501.1%

Housing

ItemCañon CityNational avg.Difference
Home Price $146,700.00$175,700.0016.5%
Avg. Mortgage Payment $1,062.29$1,081.031.7%
Apartment Rent $675.00$920.0026.6%

Transportation

ItemCañon CityNational avg.Difference
Gasoline $1.62$2.0922.6%
Tire Balancing $45.98$45.291.5%

Utilities

ItemCañon CityNational avg.Difference
All Electricity$132.82$170.8022.2%
Phone $28.98$28.262.6%
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.
Florence, CO3,87581-19%
Williamsburg, CO64783-17%
Coal Creek town, CO31192-8%
Brookside, CO26885-15%
Lincoln Park, CO3,29492-8%
Cañon City, CO16,41090-10%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Tanque Verde, AZ16,41112727%
Lithia Springs, GA16,38491-9%
Clarksburg, WV16,43789-11%
Lansdale, PA16,38211717%
Martha Lake, WA16,44112525%
Cañon City, CO16,41090-10%
Source: The Cañon City, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.