Dakota Ridge 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.
IndexDakota RidgeColoradoNational
Cost of living index112107100
IndexDakota RidgeColoradoNational
Goods & Services index103101100
Groceries index10098100
Health care index106104100
Housing index140127100
Transportation index9899100
Utilities index9388100
An overview of the general cost of living index for Dakota Ridge, CO is displayed above for your reference. Residents in Dakota Ridge, CO enjoy a cost of living index of 112. This index is 5% higher than the Colorado average, and 12% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Dakota Ridge, CO, the average cost of goods and services is 2% higher than it is in Colorado, and it is 3% higher than the national average.

Did you know?

  • The cost of living in Dakota Ridge is 5% higher than the Colorado average.
  • The cost of living in Dakota Ridge is 12% higher than the national average.
  • The cost of housing in Dakota Ridge is 40% 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 Dakota Ridge, CO Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Using the salary calculator lets you compare the salary you earn in Dakota Ridge, CO to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Dakota Ridge, CO, you have to earn a higher income in order to still have the same standard of living. To operate the Dakota Ridge, CO salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$92,300$7,692$2,154$2,769
Renters$57,026$4,752$1,331$1,711
The affordability of the housing market in Dakota Ridge, CO as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Dakota Ridge, CO homeowners, the median income is $92,300. This indicates that a monthly maximum of $2,154 should be spent by homeowners on all housing related costs. Renters have a median income of $57,026. This indicates that renters should have a maximum of $1,331 used for their rent related monthly 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 Dakota Ridge, 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

ItemDakota RidgeNational 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

ItemDakota RidgeNational 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

ItemDakota RidgeNational 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

ItemDakota RidgeNational avg.Difference
Home Price $251,200.00$175,700.0043.0%
Avg. Mortgage Payment $1,348.76$1,081.0324.8%
Apartment Rent $1,237.00$920.0034.5%

Transportation

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

Utilities

ItemDakota RidgeNational 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.
Seven Hills, CO1291000%
Hidden Lake, CO01000%
Leyner, CO311000%
Glendale CDP, CO1111000%
Federal Heights, CO11,83583-17%
Dakota Ridge, CO33,58311212%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Monroe, NC33,58895-5%
Nacogdoches, TX33,58991-9%
Security-Widefield, CO33,56697-3%
Wildomar, CA33,60111818%
Redan, GA33,60393-7%
Dakota Ridge, CO33,58311212%
Source: The Dakota Ridge, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.