Westminster, CO Cost Of Living

Westminster 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.
Index	Westminster	Colorado	National
Cost of living index	106	108	100
Index	Westminster	Colorado	National
Goods & Services index	99	99	100
Groceries index	100	99	100
Health care index	93	103	100
Housing index	132	134	100
Transportation index	115	104	100
Utilities index	59	78	100

The above illustration supplies generalized information for the Westminster, CO cost of living index. Compared to other cities in Colorado and cities across the country, the cost of living index in Westminster, CO is 106, which is 2% lower than the Colorado average and 6% 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 Westminster, CO are 1% lower than the average for Colorado and 2% lower than the rest of the country.

Did you know?

The cost of living in Westminster is 2% lower than the Colorado average.
The cost of living in Westminster is 6% higher than the national average.
The cost of housing in Westminster is 32% 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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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Use the salary calculator to compare your current income in Westminster, CO to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Westminster, CO, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Westminster, CO salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$84,727	$7,061	$1,977	$2,542
Renters	$46,947	$3,912	$1,095	$1,409

The affordability of the housing market in Westminster, CO as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Westminster, CO homeowners, the median income is $84,727. This indicates that a monthly maximum of $1,977 should be spent by homeowners on all housing related costs. Renters have a median income of $46,947. This indicates that renters should have a maximum of $1,095 used for their rent related monthly 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	4.63%	4.63%

When assessing the complete cost of living in Westminster, 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

Item	Westminster	National avg.	Difference
Haircut	$19.73	$16.09	22.6%
Beauty Salon	$32.71	$37.33	12.4%
Toothpaste	$1.53	$2.45	37.5%
Shampoo	$0.79	$1.00	20.8%
Movie	$12.05	$10.28	17.2%
Bowling	$6.21	$4.93	25.8%

Groceries

Item	Westminster	National avg.	Difference
Ground Beef	$3.41	$3.80	10.4%
Fried Chicken	$1.48	$1.40	6.1%
Milk	$1.81	$2.01	9.9%
Potatoes	$3.64	$3.01	20.9%
Pizza	$9.94	$9.89	0.5%
Beer	$8.81	$8.90	1.0%

Health Care

Item	Westminster	National avg.	Difference
Optometrist	$111.01	$102.16	8.7%
Doctor	$121.95	$108.36	12.5%
Dentist	$64.67	$92.53	30.1%
Ibuprofen	$8.48	$9.28	8.6%
Lipitor	$426.05	$425.82	0.1%

Housing

Item	Westminster	National avg.	Difference
Home Price	$249,900.00	$184,700.00	35.3%
Avg. Mortgage Payment	$1,833.88	$1,202.44	52.5%
Apartment Rent	$1,189.00	$949.00	25.3%

Transportation

Item	Westminster	National avg.	Difference
Gasoline	$2.31	$2.24	2.9%
Tire Balancing	$65.49	$46.29	41.5%

Utilities

Item	Westminster	National avg.	Difference
All Electricity	$121.83	$165.96	26.6%
Phone	$12.39	$28.68	56.8%

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, State	Population	Cost of Living Index	National Avg.
Leyner, CO	27	95	-5%
Glendale CDP, CO	78	103	3%
Lakeside, CO	10	80	-20%
Federal Heights, CO	12,173	81	-19%
Derby, CO	8,930	90	-10%
Westminster, CO	111,770	106	6%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Clearwater, FL	111,747	99	-1%
Elgin, IL	111,919	106	6%
Carlsbad, CA	112,008	171	71%
Rochester, MN	111,396	93	-7%
Lehigh Acres, FL	112,279	88	-12%
Westminster, CO	111,770	106	6%

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

Westminster, CO Cost of Living