Cost Of Living in Fairmount, CO

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F

50%

Overall NAT. AVG.

4%

Goods & Services NAT. AVG.

167%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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	Fairmount	Colorado	National
Cost of living	150	111	100
Goods & Services	104	104	100
Groceries	96	101	100
Health care	89	100	100
Housing	267	134	100
Transportation	109	105	100
Utilities	88	91	100

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Cost Of Living Quick Facts

The cost of living in Fairmount is 35% higher than the Colorado average
The cost of living in Fairmount is 50% higher than the national average
Fairmount housing is 167% higher than the national average
Colorado general sales tax is 43% lower than the national average
Colorado state income tax is 69% 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	$130,380	$10,865	$3,042	$3,912
Renters	$0	$0	$0	$0

The affordability of the housing market in Fairmount, 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 Fairmount homeowners, the median income is $130,380. This indicates that a monthly maximum of $3,042 should be spent by homeowners on all housing related costs. Renters have a median income of $0. This indicates that renters would have a maximum of $0 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	4.4%	4.4%

Goods & Services

Item	Fairmount	National avg.	Difference
Haircut	$25.33	$24.26	4.4%
Beauty Salon	$45.45	$45.56	0.3%
Toothpaste	$4.12	$3.70	11.4%
Shampoo	$1.19	$1.28	6.8%
Movie	$11.09	$12.13	8.6%
Bowling	$22.22	$18.00	23.5%

Groceries

Item	Fairmount	National avg.	Difference
Ground Beef	$5.56	$5.84	4.8%
Fried Chicken	$1.43	$1.57	8.9%
Milk	$4.89	$4.67	4.7%
Potatoes	$4.62	$4.93	6.4%
Pizza	$11.06	$12.09	8.5%
Beer	$11.34	$10.41	8.9%

Health Care

Item	Fairmount	National avg.	Difference
Optometrist	$110.45	$125.68	12.1%
Doctor	$188.89	$135.78	39.1%
Dentist	$107.78	$113.29	4.9%
Ibuprofen	$10.80	$10.65	1.4%
Lipitor	$477.35	$468.60	1.9%

Housing

Item	Fairmount	National avg.	Difference
Home Price	$554,100.00	$184,700.00	200.0%
Avg. Mortgage Payment	$2,542.08	$2,346.69	8.3%
Apartment Rent	$1,812.00	$949.00	90.9%

Transportation

Item	Fairmount	National avg.	Difference
Gasoline	$3.58	$3.46	3.4%
Tire Balancing	$73.58	$59.92	22.8%

Utilities

Item	Fairmount	National avg.	Difference
All Electricity	$161.00	$193.99	17.0%
Phone	$195.56	$192.25	1.7%

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.
Eldorado Springs, CO	325	100	0.1%
Lakeside, CO	6	85	14.8%
Federal Heights, CO	13,537	91	9.4%
North Washington, CO	663	95	4.5%
Coal Creek town, CO	308	99	0.5%
Fairmount, CO	9,549	150	50.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Lincoln Village, OH	9,546	87	12.8%
Willoughby Hills, OH	9,545	109	8.9%
West Athens, CA	9,554	145	44.9%
Rye Brook, NY	9,554	185	84.5%
Washington, NC	9,555	92	7.9%
Fairmount, CO	9,549	150	50.1%