Cost of Living in Firestone, CO

Homes For Sale In Firestone, CO

An Overview of Cost of Living in Firestone, CO

Are you thinking about relocating, but curious about the potential cost of living in Firestone? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Firestone stands at 133, making it 33% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

If you're in pursuit of an economical living environment, Firestone may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Firestone falls within this bracket.

Housing costs significantly influence the Firestone cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 96.6%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Firestone, these items will cost you 12% more than what's considered the norm, making it a more expensive place to call home.

Is Firestone Affordable?

Wondering if Firestone is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Firestone, for example, the median home price is 103.9% higher than what folks pay nationally, and monthly rent is 79.7% higher than the usual rates. Plus, income levels matter too, with Firestone boasting a median household income of $144,670, which is 77.9% higher than the national average.

What Factors can Influence the Cost of Living in Firestone?

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Firestone, the groceries index is 2% higher than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Firestone, the standard sales tax rate starts at 2.9%, and the income tax rates commence at 4.4%.

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Firestone, the transportation index is 1.6% lower than the national average.

Where is the Data From?

The cost of living data in Firestone displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

Most Affordable Places to Live in and Around Firestone

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Median Income & Debt-To-Income Ratio

A good way to judge both the affordability of the housing and the cost of living in Firestone is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Firestone has a median income of about $149,158 for people who own homes. Based on that number, a maximum of $3,480 should be spent on expenses related to housing. Renters have a slightly different median income, which is $110,573. Based on this average, renters should spend no more than $2,580 on all rental costs if they want to maintain a non-impoverished standard of living.

Colorado Sales Tax

Colorado Income Tax

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Groceries

Health Care

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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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Date & Last Updated: This data reflects 2025 and was released from C2ER in January, 2026; this is the most current data available.