Parker 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.
IndexParkerColoradoNational
Cost of living index117107100
IndexParkerColoradoNational
Goods & Services index103101100
Groceries index10098100
Health care index106104100
Housing index155127100
Transportation index9899100
Utilities index9388100
Here we can see a simple outline of the cost of living in Parker, CO. As you can see, with the average cost of living in Parker, CO being 117, that puts it 9% higher than the average of Colorado and 17% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Parker, CO, the price of goods and services are 2% higher than the average of Colorado as well as 3% higher than the nation's average.

Did you know?

  • The cost of living in Parker is 9% higher than the Colorado average.
  • The cost of living in Parker is 17% higher than the national average.
  • The cost of housing in Parker is 55% 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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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
The salary calculator is meant to help you compare your salary in Parker, CO to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Parker, CO, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Parker, CO salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$107,108$8,926$2,499$3,214
Renters$52,637$4,386$1,228$1,579
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Parker, 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 Parker, CO homeowners have a median income of $107,108. Using that number, you will come up with a maximum of $2,499 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $52,637, which means there is a maximum of $1,228 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 Parker, 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

ItemParkerNational avg.Difference
Haircut $17.25$14.5918.2%
Beauty Salon $35.00$34.680.9%
Toothpaste $3.00$2.4721.3%
Shampoo $1.10$1.027.6%
Movie $11.22$9.8713.7%
Bowling $6.75$4.3953.7%

Groceries

ItemParkerNational avg.Difference
Ground Beef $5.01$4.4811.9%
Fried Chicken $1.71$1.4616.8%
Milk $2.43$2.363.1%
Potatoes $2.55$3.0616.7%
Pizza $7.99$9.2413.6%
Beer $8.55$8.631.0%

Health Care

ItemParkerNational avg.Difference
Optometrist $101.85$99.782.1%
Doctor $124.80$105.0318.8%
Dentist $95.00$88.707.1%
Ibuprofen $9.24$9.411.8%
Lipitor $278.85$298.506.6%

Housing

ItemParkerNational avg.Difference
Home Price $288,400.00$175,700.0064.1%
Avg. Mortgage Payment $1,348.76$1,081.0324.8%
Apartment Rent $1,219.00$920.0032.5%

Transportation

ItemParkerNational avg.Difference
Gasoline $2.00$2.094.6%
Tire Balancing $47.12$45.294.1%

Utilities

ItemParkerNational avg.Difference
All Electricity$153.48$170.8010.1%
Phone $27.57$28.262.4%
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.
Rock Creek Park, CO011010%
Glendale, CO4,56494-6%
Sheridan, CO5,81997-3%
Sedalia, CO10199-1%
Elizabeth, CO1,2701033%
Parker, CO47,51511717%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ashburn, VA47,48413939%
Middletown, CT47,42412323%
Azusa, CA47,42012525%
Roseville, MI47,40884-16%
Chesterfield, MO47,65111919%
Parker, CO47,51511717%
Source: The Parker, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.