Gypsum 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.
IndexGypsumColoradoNational
Cost of living index128107100
IndexGypsumColoradoNational
Goods & Services index114101100
Groceries index10198100
Health care index113104100
Housing index169127100
Transportation index13399100
Utilities index8288100
An overview of the general cost of living index for Gypsum, CO is displayed above for your reference. Residents in Gypsum, CO enjoy a cost of living index of 128. This index is 19% 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 Gypsum, CO, the average cost of goods and services is 13% higher than it is in Colorado, and it is 14% higher than the national average.

Did you know?

  • The cost of living in Gypsum is 19% higher than the Colorado average.
  • The cost of living in Gypsum is 28% higher than the national average.
  • The cost of housing in Gypsum is 69% 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 Gypsum, CO Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Gypsum, CO to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Gypsum, CO, then you would need to earn more income in order to maintain the same standard of living. To use the Gypsum, CO salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$105,284$8,774$2,456$3,159
Renters$51,821$4,318$1,209$1,555
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Gypsum, CO, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Gypsum, CO homeowners have a median income of $105,284. Using that number, you will come up with a maximum of $2,456 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $51,821, which means there is a maximum of $1,209 to be spent on the costs of renting a home or apartment.

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 Gypsum, 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

ItemGypsumNational avg.Difference
Haircut $17.00$14.5916.5%
Beauty Salon $40.00$34.6815.3%
Toothpaste $3.34$2.4735.0%
Shampoo $1.04$1.021.8%
Movie $9.75$9.871.2%
Bowling $5.00$4.3913.9%

Groceries

ItemGypsumNational avg.Difference
Ground Beef $4.74$4.485.9%
Fried Chicken $2.24$1.4653.0%
Milk $2.19$2.367.1%
Potatoes $2.49$3.0618.7%
Pizza $11.00$9.2419.0%
Beer $9.19$8.636.5%

Health Care

ItemGypsumNational avg.Difference
Optometrist $159.00$99.7859.4%
Doctor $120.00$105.0314.2%
Dentist $102.50$88.7015.6%
Ibuprofen $8.67$9.417.9%
Lipitor $306.77$298.502.8%

Housing

ItemGypsumNational avg.Difference
Home Price $335,000.00$175,700.0090.7%
Avg. Mortgage Payment $1,716.00$1,081.0358.7%
Apartment Rent $1,099.00$920.0019.5%

Transportation

ItemGypsumNational avg.Difference
Gasoline $3.00$2.0943.4%
Tire Balancing $47.12$45.294.1%

Utilities

ItemGypsumNational avg.Difference
All Electricity$152.36$170.8010.8%
Phone $19.99$28.2629.3%
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.
Wolcott, CO011010%
Cattle Creek, CO85389-11%
Dotsero, CO9671055%
Eagle, CO6,51113939%
Gypsum, CO6,58712828%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Wharton, NJ6,58612222%
East Porterville, CA6,58594-6%
Loomis, CA6,58912929%
Kimberly, WI6,59094-6%
Fircrest, WA6,59211919%
Gypsum, CO6,58712828%
Source: The Gypsum, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.