F
34%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
109%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Ken Caryl Colorado National
Cost of living134111100
Goods & Services106104100
Groceries105101100
Health care99100100
Housing209134100
Transportation104105100
Utilities8591100

An Overview of Cost of Living in Ken Caryl, CO

The cost of living in Ken Caryl affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Ken Caryl is 134, which is 34% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Ken Caryl is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Ken Caryl falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs are a major factor in the Ken Caryl cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 109% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Ken Caryl Affordable?

Is Ken Caryl an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Ken Caryl is 123% higher than the national average, while the average monthly rent prices are 76.5% higher than average. The affordability of any location can also be influenced by median income levels. Ken Caryl has a median household income of $97,344, which is 76% higher than the national average.

What Factors can Influence the Cost of Living in Ken Caryl?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Ken Caryl, the transportation index is 4.2% higher than the national average.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Ken Caryl, the groceries index registers 5% higher than the national average.

Where is the Data From?

The Ken Caryl cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Ken Caryl is 21% higher than the Colorado average
  • The cost of living in Ken Caryl is 34% higher than the national average
  • Ken Caryl housing is 109% higher than the national average
  • Colorado general sales tax is 43% lower than the national average
  • Colorado state income tax is 95% higher than the national average

Most Affordable Places to Live in and Around Ken Caryl

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Compare Ken Caryl, CO Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$101,570$8,464$2,370$3,047
      Renters$77,653$6,471$1,812$2,330
      A good way to judge both the affordability of the housing and the cost of living in Ken Caryl is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Ken Caryl has a median income of about $101,570 for people who own homes. Based on that number, a maximum of $2,370 should be spent on expenses related to housing. Renters have a slightly different median income, which is $77,653. Based on this average, renters should spend no more than $1,812 on all rental costs if they want to maintain a non-impoverished standard of living.

      Colorado Sales Tax

      State General Sales Tax With Max Surtax
      Colorado 2.9% 10%

      Colorado Income Tax

      State Income Tax (Low) Income Tax (High)
      Colorado 4.4% 4.4%

      Goods & Services

      Item Ken Caryl National avg. Difference
      Haircut $26.81$24.2610.5%
      Beauty Salon $50.45$45.5610.7%
      Toothpaste $3.70$3.700.1%
      Shampoo $1.27$1.281.1%
      Movie $14.70$12.1321.1%
      Bowling $21.40$18.0018.9%

      Groceries

      Item Ken Caryl National avg. Difference
      Ground Beef $5.23$5.8410.4%
      Fried Chicken $1.40$1.5711.2%
      Milk $4.74$4.671.4%
      Potatoes $4.30$4.9312.9%
      Pizza $12.87$12.096.5%
      Beer $10.67$10.412.5%

      Health Care

      Item Ken Caryl National avg. Difference
      Optometrist $121.38$125.683.4%
      Doctor $116.64$135.7814.1%
      Dentist $126.27$113.2911.5%
      Ibuprofen $10.88$10.652.1%
      Lipitor $447.94$468.604.4%

      Housing

      Item Ken Caryl National avg. Difference
      Home Price $411,800.00$184,700.00123.0%
      Avg. Mortgage Payment $3,151.90$2,346.6934.3%
      Apartment Rent $1,675.00$949.0076.5%

      Transportation

      Item Ken Caryl National avg. Difference
      Gasoline $3.67$3.465.9%
      Tire Balancing $60.05$59.920.2%

      Utilities

      Item Ken Caryl National avg. Difference
      All Electricity $145.02$193.9925.2%
      Phone $194.36$192.251.1%
      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 Population Cost of Living Index National Avg.
      Glendale CDP, CO781022.3%
      Lakeside, CO68514.8%
      Sheridan, CO6,07211312.9%
      Glendale, CO5,18611413.9%
      Louviers, CO38111414.3%
      Ken Caryl, CO33,81513434.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      San Dimas, CA33,81216463.5%
      Newark, DE33,82211716.8%
      LaSalle, ON33,838n/a 
      Golden Glades, FL33,84311313.2%
      Kearney, NE33,783927.7%
      Ken Caryl, CO33,81513434.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.