Fort Morgan 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.
IndexFort MorganColoradoNational
Cost of living index91107100
IndexFort MorganColoradoNational
Goods & Services index103101100
Groceries index10098100
Health care index106104100
Housing index69127100
Transportation index9899100
Utilities index9388100
Here we can see a simple outline of the cost of living in Fort Morgan, CO. As you can see, with the average cost of living in Fort Morgan, CO being 91, that puts it 15% lower than the average of Colorado and 9% lower 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 Fort Morgan, CO, the price of goods and services are 2% higher than the average of Colorado as well as 3% higher than the nation's average.

Did you know?

  • The cost of living in Fort Morgan is 15% lower than the Colorado average.
  • The cost of living in Fort Morgan is 9% lower than the national average.
  • The cost of housing in Fort Morgan is 31% 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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Salary Calculator

This is how much you would need to earn in
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Groceries index
Health care index
Housing index
Transportation index
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The salary calculator is meant to help you compare your salary in Fort Morgan, CO to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Fort Morgan, CO, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Fort Morgan, CO salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$52,723$4,394$1,230$1,582
Renters$30,107$2,509$702$903
The affordability of the housing market in Fort Morgan, 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 Fort Morgan, CO homeowners, the median income is $52,723. This indicates that a monthly maximum of $1,230 should be spent by homeowners on all housing related costs. Renters have a median income of $30,107. This indicates that renters should have a maximum of $702 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%
When you are determining the total cost of living in Fort Morgan, CO you will want to make sure you consider both the Colorado sales tax and the Colorado income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Colorado is 2.9%, with the highest surtax being 10%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Colorado have a range from 4.63% to 4.63%.

Goods & Services

ItemFort MorganNational 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

ItemFort MorganNational 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

ItemFort MorganNational 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

ItemFort MorganNational avg.Difference
Home Price $118,400.00$175,700.0032.6%
Avg. Mortgage Payment $1,348.76$1,081.0324.8%
Apartment Rent $660.00$920.0028.3%

Transportation

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

Utilities

ItemFort MorganNational 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.
Saddle Ridge, CO4011010%
Trail Side, CO093-7%
Log Lane Village, CO89487-13%
Snyder, CO12987-13%
Weldona, CO9788-12%
Fort Morgan, CO11,39791-9%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Guttenberg, NJ11,39714646%
Glenpool, OK11,39889-11%
Martin, TN11,39692-8%
Port Washington, WI11,4011000%
Gloucester City, NJ11,3921077%
Fort Morgan, CO11,39791-9%
Source: The Fort Morgan, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.