Gunbarrel 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.
IndexGunbarrelColoradoNational
Cost of living index128107100
IndexGunbarrelColoradoNational
Goods & Services index103101100
Groceries index10098100
Health care index106104100
Housing index192127100
Transportation index9899100
Utilities index9388100
An overview of the general cost of living index for Gunbarrel, CO is displayed above for your reference. Residents in Gunbarrel, CO enjoy a cost of living index of 128. This index is 20% higher than the Colorado average, and 28% 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 Gunbarrel, 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 Gunbarrel is 20% higher than the Colorado average.
  • The cost of living in Gunbarrel is 28% higher than the national average.
  • The cost of housing in Gunbarrel is 92% 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 Gunbarrel, CO Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Gunbarrel, CO to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Gunbarrel, CO, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Gunbarrel, CO salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$100,417$8,368$2,343$3,013
Renters$54,637$4,553$1,275$1,639
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Gunbarrel, 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 Gunbarrel, CO homeowners, is $100,417. This would allow for a maximum of $2,343 per month to be spent on housing costs. For renters, the median monthly income is $54,637 which would result in a maximum of $1,275 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 Gunbarrel, 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

ItemGunbarrelNational 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

ItemGunbarrelNational 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

ItemGunbarrelNational 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

ItemGunbarrelNational avg.Difference
Home Price $385,500.00$175,700.00119.4%
Avg. Mortgage Payment $1,348.76$1,081.0324.8%
Apartment Rent $1,191.00$920.0029.5%

Transportation

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

Utilities

ItemGunbarrelNational 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.
Leyner, CO311000%
Seven Hills, CO1291000%
Glendale CDP, CO1111000%
Federal Heights, CO11,83583-17%
Dacono, CO4,35598-2%
Gunbarrel, CO8,93312828%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bennington, VT8,93399-1%
Monett, MO8,93585-15%
Hondo, TX8,92984-16%
Bennettsville, SC8,92885-15%
Quakertown, PA8,93911212%
Gunbarrel, CO8,93312828%
Source: The Gunbarrel, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.