Applewood, Colorado Cost Of Living

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F

Overall 31%

Goods & Services 11%

Housing 94%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Applewood	Colorado	National
Cost of living	131	111	100
Goods & Services	111	105	100
Groceries	95	98	100
Health care	102	98	100
Housing	194	134	100
Transportation	111	105	100
Utilities	82	88	100

Key findings

The cost of living in Applewood is 18% higher than the Colorado average
The cost of living in Applewood is 31% higher than the national average
Applewood housing is 94% higher than the national average
Colorado general sales tax is 43% lower than the national average
Colorado state income tax is 88% 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	$93,958	$7,830	$2,192	$2,819
Renters	$55,938	$4,662	$1,305	$1,678

The affordability of the housing market in Applewood, CO as well as the overall cost of living can be predicted 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 be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Applewood homeowners, the median income is $93,958. This indicates that a monthly maximum of $2,192 should be spent by homeowners on all housing related costs. Renters have a median income of $55,938. This indicates that renters would have a maximum of $1,305 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%

Goods & Services

Item	Applewood	National avg.	Difference
Haircut	$24.13	$20.27	19.0%
Beauty Salon	$44.79	$40.39	10.9%
Toothpaste	$2.10	$2.36	11.0%
Shampoo	$0.95	$1.08	11.4%
Movie	$13.95	$10.99	27.0%
Bowling	$22.38	$15.49	44.5%

Groceries

Item	Applewood	National avg.	Difference
Ground Beef	$4.02	$4.30	6.5%
Fried Chicken	$1.24	$1.40	11.6%
Milk	$1.79	$2.20	18.9%
Potatoes	$2.51	$3.22	22.1%
Pizza	$12.30	$10.74	14.5%
Beer	$9.38	$9.60	2.3%

Health Care

Item	Applewood	National avg.	Difference
Optometrist	$110.56	$109.73	0.8%
Doctor	$113.95	$118.34	3.7%
Dentist	$111.41	$100.94	10.4%
Ibuprofen	$9.25	$9.93	6.9%
Lipitor	$476.06	$469.53	1.4%

Housing

Item	Applewood	National avg.	Difference
Home Price	$398,400.00	$184,700.00	115.7%
Avg. Mortgage Payment	$1,750.05	$1,229.62	42.3%
Apartment Rent	$1,370.00	$949.00	44.4%

Transportation

Item	Applewood	National avg.	Difference
Gasoline	$2.94	$2.71	8.3%
Tire Balancing	$60.53	$51.86	16.7%

Utilities

Item	Applewood	National avg.	Difference
All Electricity	$117.89	$170.84	31.0%
Phone	$186.45	$187.18	0.4%

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	Population	Cost of Living Index	National Avg.
Glendale CDP, CO	78	104	3.7%
Lakeside, CO	10	81	18.9%
Federal Heights, CO	12,173	82	18.3%
Derby, CO	8,930	91	8.9%
Glendale, CO	4,905	97	2.9%
Applewood, CO	7,976	131	30.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Jefferson, WI	7,976	97	2.9%
Mount Joy, PA	7,978	97	3.5%
Ephrata, WA	7,980	93	7.0%
Gresham Park, GA	7,971	92	7.8%
Hartsville (Trousdale County) , TN	7,970	88	12.3%
Applewood, CO	7,976	131	30.9%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.