Cost Of Living in Lamar, CO

A+

12%

Overall NAT. AVG.

0%

Goods & Services NAT. AVG.

36%

Housing NAT. AVG.

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	Lamar	Colorado	National
Cost of living	88	111	100
Goods & Services	100	104	100
Groceries	98	101	100
Health care	100	100	100
Housing	64	134	100
Transportation	100	105	100
Utilities	94	91	100

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Cost Of Living Quick Facts

The cost of living in Lamar is 21% lower than the Colorado average
The cost of living in Lamar is 12% lower than the national average
Lamar housing is 36% lower 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

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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	$48,542	$4,045	$1,133	$1,456
Renters	$25,278	$2,107	$590	$758

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 homeowners, is $48,542. This would allow for a maximum of $1,133 per month to be spent on housing costs. For renters, the median monthly income is $25,278 which would result in a maximum of $590 to be spent on rental costs.

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	Lamar	National avg.	Difference
Haircut	$23.33	$24.26	3.8%
Beauty Salon	$45.83	$45.56	0.6%
Toothpaste	$3.47	$3.70	6.2%
Shampoo	$1.22	$1.28	4.9%
Movie	$18.99	$12.13	56.5%
Bowling	$29.17	$18.00	62.0%

Groceries

Item	Lamar	National avg.	Difference
Ground Beef	$5.63	$5.84	3.5%
Fried Chicken	$1.38	$1.57	12.6%
Milk	$4.69	$4.67	0.4%
Potatoes	$3.88	$4.93	21.3%
Pizza	$12.82	$12.09	6.1%
Beer	$10.59	$10.41	1.7%

Health Care

Item	Lamar	National avg.	Difference
Optometrist	$82.33	$125.68	34.5%
Doctor	$99.00	$135.78	27.1%
Dentist	$103.33	$113.29	8.8%
Ibuprofen	$10.75	$10.65	0.9%
Lipitor	$538.16	$468.60	14.8%

Housing

Item	Lamar	National avg.	Difference
Home Price	$105,500.00	$184,700.00	42.9%
Avg. Mortgage Payment	$2,880.89	$2,346.69	22.8%
Apartment Rent	$746.00	$949.00	21.4%

Transportation

Item	Lamar	National avg.	Difference
Gasoline	$3.71	$3.46	7.1%
Tire Balancing	$67.11	$59.92	12.0%

Utilities

Item	Lamar	National avg.	Difference
All Electricity	$155.08	$193.99	20.1%
Phone	$194.35	$192.25	1.1%

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.
Wiley, CO	349	87	13.4%
Lamar, CO	7,598	88	11.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
West Frankfort, IL	7,597	83	17.0%
Interlaken, CA	7,596	162	61.8%
Oceano, CA	7,601	137	37.3%
Clear Lake, IA	7,594	96	4.4%
Sioux Center, IA	7,592	96	3.7%
Lamar, CO	7,598	88	11.9%