Brighton cost of living index

Displayed above is a general overview of the Brighton, CO cost of living index. The overall cost of living index in Brighton, CO is 101, which is 6% lower than the Colorado average and 1% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Brighton, CO are 1% lower than the Colorado average and 2% lower than the national average.

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Salary Calculator

The salary calculator is used in order to provide a comparison of your current salary in Brighton, CO to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Brighton, CO, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Brighton, CO salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Brighton, 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 Brighton, CO homeowners have a median income of $77,166. Using that number, you will come up with a maximum of $1,800 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $43,021, which means there is a maximum of $1,004 to be spent on the costs of renting a home or apartment.

Colorado Sales Tax

Colorado Income Tax

For those who live in Brighton, CO and want to know what the true cost of living is, they ought to look at both the Colorado income tax rate and the Colorado sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Colorado, the sales tax is 2.9%, while the most you'll pay in surtax is 10%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Colorado, the income tax rate ranges between 4.63% to 4.63%.

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