Castle Rock, Colorado Cost Of Living

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F

Overall 21%

Goods & Services 9%

Housing 66%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; 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	Castle Rock	Colorado	National
Cost of living	121	110	100
Goods & Services	109	103	100
Groceries	98	97	100
Health care	104	104	100
Housing	166	134	100
Transportation	104	102	100
Utilities	81	86	100

Key findings

The cost of living in Castle Rock is 10% higher than the Colorado average
The cost of living in Castle Rock is 21% higher than the national average
Castle Rock housing is 66% 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	$106,143	$8,845	$2,477	$3,185
Renters	$55,094	$4,591	$1,285	$1,653

To approximate the cost of living and the housing affordability in Castle Rock, CO, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Castle Rock have a median income of $106,143. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,477 per month to avoid calamity and poverty. The renters in the city have an income of about $55,094, which would make their monthly maximum allowable rental costs $1,285.

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	Castle Rock	National avg.	Difference
Haircut	$20.46	$17.49	17.0%
Beauty Salon	$42.88	$38.17	12.3%
Toothpaste	$2.09	$2.32	9.9%
Shampoo	$1.04	$1.01	2.8%
Movie	$12.95	$10.72	20.8%
Bowling	$20.00	$13.86	44.3%

Groceries

Item	Castle Rock	National avg.	Difference
Ground Beef	$4.28	$3.90	9.7%
Fried Chicken	$1.44	$1.40	3.2%
Milk	$1.83	$1.96	6.7%
Potatoes	$2.77	$3.18	13.0%
Pizza	$10.99	$10.39	5.7%
Beer	$9.11	$9.23	1.3%

Health Care

Item	Castle Rock	National avg.	Difference
Optometrist	$102.57	$106.34	3.5%
Doctor	$125.43	$115.25	8.8%
Dentist	$105.11	$98.38	6.8%
Ibuprofen	$8.56	$9.26	7.6%
Lipitor	$485.44	$466.47	4.1%

Housing

Item	Castle Rock	National avg.	Difference
Home Price	$328,700.00	$184,700.00	78.0%
Avg. Mortgage Payment	$1,840.89	$1,273.32	44.6%
Apartment Rent	$1,307.00	$949.00	37.7%

Transportation

Item	Castle Rock	National avg.	Difference
Gasoline	$2.63	$2.59	1.3%
Tire Balancing	$54.74	$48.90	12.0%

Utilities

Item	Castle Rock	National avg.	Difference
All Electricity	$108.33	$167.60	35.4%
Phone	$183.58	$163.42	12.3%

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.
Elizabeth, CO	1,174	104	4%
Larkspur, CO	221	105	5%
Sedalia, CO	157	107	7%
Rock Creek Park, CO	57	108	8%
Dove Valley, CO	5,358	108	8%
Castle Rock, CO	53,789	121	21%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Colton, CA	53,856	109	9%
Euless, TX	53,675	96	-4%
Elyria, OH	53,928	89	-11%
Blue Springs, MO	53,641	96	-4%
Wheaton, IL	53,568	121	21%
Castle Rock, CO	53,789	121	21%

Source: The Castle Rock, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Castle Rock, CO Cost of Living

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