Wellington cost of living index

The above illustration supplies generalized information for the Wellington, CO cost of living index. Compared to other cities in Colorado and cities across the country, the cost of living index in Wellington, CO is 109, which is equal to the Colorado average and 9% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Wellington, CO are 3% lower than the average for Colorado and 3% lower than the rest of the country.

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Salary Calculator

Use the salary calculator to compare your current salary in Wellington, CO to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Wellington, CO, then you would need to earn more income in order to maintain the same standard of living. To use the Wellington, CO salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Wellington, CO, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Wellington, CO has a median income of about $85,822 for people who own homes. Based on that number, a person should spend a maximum of $2,002 on expenses related to housing. Renters have a slightly different median income, which is $58,189. Based on this average, renters should spend no more than $1,358 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Colorado Sales Tax

Colorado Income Tax

When assessing the complete cost of living in Wellington, 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

Groceries

Health Care

Housing

Transportation

Utilities

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.

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Source: The Wellington, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.