Firestone 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.
IndexFirestoneColoradoNational
Cost of living index113107100
IndexFirestoneColoradoNational
Goods & Services index10299100
Groceries index106103100
Health care index107102100
Housing index139127100
Transportation index10495100
Utilities index9388100
Here we can see a simple outline of the cost of living in Firestone, CO. As you can see, with the average cost of living in Firestone, CO being 113, that puts it 6% higher than the average of Colorado and 13% 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 Firestone, CO, the price of goods and services are 3% higher than the average of Colorado as well as 2% higher than the nation's average.

Did you know?

  • The cost of living in Firestone is 6% higher than the Colorado average.
  • The cost of living in Firestone is 13% higher than the national average.
  • The cost of housing in Firestone is 39% 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 Firestone, CO Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Health care index
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Using the salary calculator lets you compare the salary you earn in Firestone, 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 Firestone, CO, you have to earn a higher income in order to still have the same standard of living. To operate the Firestone, 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$88,071$7,339$2,055$2,642
Renters$70,476$5,873$1,644$2,114
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Firestone, CO, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Firestone, CO has a median income of about $88,071 for people who own homes. Based on that number, a person should spend a maximum of $2,055 on expenses related to housing. Renters have a slightly different median income, which is $70,476. Based on this average, renters should spend no more than $1,644 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 Firestone, 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

ItemFirestoneNational avg.Difference
Haircut $18.59$15.5619.4%
Beauty Salon $36.88$36.112.1%
Toothpaste $3.14$2.4726.9%
Shampoo $0.97$0.960.2%
Movie $11.18$10.1310.4%
Bowling $6.03$4.7427.3%

Groceries

ItemFirestoneNational avg.Difference
Ground Beef $4.77$3.9819.6%
Fried Chicken $1.40$1.410.5%
Milk $1.78$2.0613.7%
Potatoes $2.81$2.985.8%
Pizza $7.33$9.4722.7%
Beer $8.43$8.794.1%

Health Care

ItemFirestoneNational avg.Difference
Optometrist $102.80$101.041.7%
Doctor $134.18$107.4424.9%
Dentist $90.01$90.420.4%
Ibuprofen $9.40$9.281.3%
Lipitor $426.52$426.500.0%

Housing

ItemFirestoneNational avg.Difference
Home Price $242,100.00$175,700.0037.8%
Avg. Mortgage Payment $1,431.28$1,133.2326.3%
Apartment Rent $1,313.00$920.0042.7%

Transportation

ItemFirestoneNational avg.Difference
Gasoline $1.99$1.990.4%
Tire Balancing $52.50$45.7614.7%

Utilities

ItemFirestoneNational avg.Difference
All Electricity$135.90$163.8117.0%
Phone $30.43$28.397.2%
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.
Blue Sky, CO01022%
Leyner, CO311022%
Gilcrest, CO98295-5%
Lochbuie, CO5,12796-4%
Fort Lupton, CO7,59598-2%
Firestone, CO10,90811313%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Campton Hills, IL10,90813333%
Riverton, WY10,90292-8%
Burkburnett, TX10,91582-18%
Webster, TX10,89891-9%
Mack, OH10,9191022%
Firestone, CO10,90811313%
Source: The Firestone, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.