B-
21%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
71%
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 Loveland Colorado National
Cost of living121111100
Goods & Services104104100
Groceries96101100
Health care89100100
Housing171134100
Transportation109105100
Utilities8891100

An Overview of Cost of Living in Loveland, CO

Getting a feel for the cost of living in Loveland is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Loveland is 121, which is 21% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Loveland is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Loveland falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs significantly influence the Loveland cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 70.7%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

What Do Locals Say About the Cost of Living in Loveland?

Locals have the inside scoop on their city. So, we polled 8 residents in Loveland to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 50% find it reasonable with decreasing prices, but 50% think it's quite pricey, with prices that continue to rise.

Is Loveland Affordable?

Wondering if Loveland is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Loveland, for example, the median home price is 83.8% higher than what folks pay nationally, and monthly rent is 40.1% higher than the usual rates. Plus, income levels matter too, with Loveland boasting a median household income of $72,515, which is 31.1% higher than the national average.

What Factors can Influence the Cost of Living in Loveland?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Loveland, the transportation index is 8.5% higher than the national average.

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Loveland, the baseline sales tax rate begins at 2.9%, and income tax rates start at 4.4%.

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Where is the Data From?

The Loveland cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates 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 Loveland is 9% higher than the Colorado average
  • The cost of living in Loveland is 21% higher than the national average
  • Loveland housing is 71% 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 Loveland

See all the best places to live around Loveland

Compare Loveland, 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$84,083$7,007$1,962$2,523
      Renters$52,281$4,357$1,220$1,569
      A good indicator of the general affordability of housing in Loveland, CO, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Loveland, the median monthly income is $84,083 for those who own their own homes. Under the standard rule, that income level would allow for $1,962 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $52,281, per the median income in the area. That would allow for renters to spend up to $1,220 on monthly rental expenses.

      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 Loveland National avg. Difference
      Haircut $25.33$24.264.4%
      Beauty Salon $45.45$45.560.3%
      Toothpaste $4.12$3.7011.4%
      Shampoo $1.19$1.286.8%
      Movie $11.09$12.138.6%
      Bowling $22.22$18.0023.5%

      Groceries

      Item Loveland National avg. Difference
      Ground Beef $5.56$5.844.8%
      Fried Chicken $1.43$1.578.9%
      Milk $4.89$4.674.7%
      Potatoes $4.62$4.936.4%
      Pizza $11.06$12.098.5%
      Beer $11.34$10.418.9%

      Health Care

      Item Loveland National avg. Difference
      Optometrist $110.45$125.6812.1%
      Doctor $188.89$135.7839.1%
      Dentist $107.78$113.294.9%
      Ibuprofen $10.80$10.651.4%
      Lipitor $477.35$468.601.9%

      Housing

      Item Loveland National avg. Difference
      Home Price $339,500.00$184,700.0083.8%
      Avg. Mortgage Payment $2,542.08$2,346.698.3%
      Apartment Rent $1,330.00$949.0040.1%

      Transportation

      Item Loveland National avg. Difference
      Gasoline $3.58$3.463.4%
      Tire Balancing $73.58$59.9222.8%

      Utilities

      Item Loveland National avg. Difference
      All Electricity $161.00$193.9917.0%
      Phone $195.56$192.251.7%
      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.
      Gilcrest, CO1,3811066.2%
      Platteville, CO3,01711111.0%
      Milliken, CO7,86211414.3%
      Mead, CO4,97812019.9%
      Severance, CO5,61112323.2%
      Loveland, CO81,77412121.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Westland, MI81,713945.9%
      Atascocita, TX81,8601087.9%
      Kawartha Lakes, ON81,906n/a 
      Cicero, IL81,4711021.6%
      Prince George, BC82,094n/a 
      Loveland, CO81,77412121.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.