Lamar 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.
IndexLamarColoradoNational
Cost of living index79107100
IndexLamarColoradoNational
Goods & Services index9199100
Groceries index96103100
Health care index98102100
Housing index49127100
Transportation index9295100
Utilities index8688100
A general overview of the cost of living index for Lamar, CO is displayed above. In Lamar, CO, the overall cost of living index is 79, which is 26% lower than the Colorado average and 21% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Lamar, CO, the city's goods and services are 8% lower than the Colorado average and 9% lower than the U.S. average.

Did you know?

  • The cost of living in Lamar is 26% lower than the Colorado average.
  • The cost of living in Lamar is 21% lower than the national average.
  • The cost of housing in Lamar is 51% 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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Compare Lamar, 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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The salary calculator allows you to compare how much your current salary in Lamar, CO would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Lamar, CO, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Lamar, CO salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$39,911$3,326$931$1,197
Renters$22,617$1,885$528$679
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lamar, 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 Lamar, CO homeowners, is $39,911. This would allow for a maximum of $931 per month to be spent on housing costs. For renters, the median monthly income is $22,617 which would result in a maximum of $528 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 Lamar, 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

ItemLamarNational avg.Difference
Haircut $13.61$15.5612.5%
Beauty Salon $31.87$36.1111.7%
Toothpaste $2.04$2.4717.5%
Shampoo $0.88$0.968.3%
Movie $9.82$10.133.1%
Bowling $3.25$4.7431.4%

Groceries

ItemLamarNational avg.Difference
Ground Beef $4.54$3.9814.0%
Fried Chicken $1.46$1.413.9%
Milk $1.72$2.0616.6%
Potatoes $2.45$2.9817.9%
Pizza $8.46$9.4710.7%
Beer $8.80$8.790.1%

Health Care

ItemLamarNational avg.Difference
Optometrist $94.08$101.046.9%
Doctor $100.53$107.446.4%
Dentist $84.79$90.426.2%
Ibuprofen $10.60$9.2814.2%
Lipitor $438.42$426.502.8%

Housing

ItemLamarNational avg.Difference
Home Price $79,800.00$175,700.0054.6%
Avg. Mortgage Payment $737.80$1,133.2334.9%
Apartment Rent $535.00$920.0041.8%

Transportation

ItemLamarNational avg.Difference
Gasoline $1.89$1.995.0%
Tire Balancing $38.66$45.7615.5%

Utilities

ItemLamarNational avg.Difference
All Electricity$133.00$163.8118.8%
Phone $26.67$28.396.0%
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.
Wiley, CO35979-21%
Lamar, CO7,81079-21%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Cameron Park, TX7,81173-27%
Olivette, MO7,80911212%
Bloomingdale, NJ7,80813030%
Garden City Park, NY7,80717474%
Kalifornsky, AK7,80612222%
Lamar, CO7,81079-21%
Source: The Lamar, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.