A+
1%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
3%
Housing NAT. AVG.
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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 Fort Morgan Colorado National
Cost of living99111100
Goods & Services104104100
Groceries96101100
Health care89100100
Housing97134100
Transportation109105100
Utilities8891100

An Overview of Cost of Living in Fort Morgan, CO

Knowing the cost of living in Fort Morgan allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Fort Morgan stands at 99, marking it 1% lower than the national average.

The cost of living in Fort Morgan aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Fort Morgan residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

Is Fort Morgan Affordable?

Is Fort Morgan affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Fort Morgan, the median home price is 0.2% lower than the national average and monthly rent prices are 8.3% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Fort Morgan boasting a median household income of $48,642, 12.1% lower than the national average.

What Factors can Influence the Cost of Living in Fort Morgan?

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Fort Morgan, the healthcare costs are 11.1% lower than the national average.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Fort Morgan, the housing index comes in at 2.6% lower than the national average.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Where is the Data From?

The cost of living data in Fort Morgan 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.

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Cost Of Living Quick Facts

  • The cost of living in Fort Morgan is 11% lower than the Colorado average
  • The cost of living in Fort Morgan is 1% lower than the national average
  • Fort Morgan housing is 3% lower than the national average
  • Colorado general sales tax is 43% lower than the national average
  • Colorado state income tax is 95% higher than the national average

Most Affordable Places to Live in and Around Fort Morgan

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Compare Fort Morgan, CO Cost of Living

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      Salary Calculator

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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$63,880$5,323$1,490$1,917
      Renters$40,381$3,365$942$1,212
      The affordability of the housing market in Fort Morgan, 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 Fort Morgan homeowners, the median income is $63,880. This indicates that a monthly maximum of $1,490 should be spent by homeowners on all housing related costs. Renters have a median income of $40,381. This indicates that renters would have a maximum of $942 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 Fort Morgan National avg. Difference
      Haircut $25.33$24.264.4%
      Beauty Salon $45.45$45.560.3%
      Toothpaste $4.12$3.7011.4%
      Shampoo $1.19$1.286.8%
      Movie $11.09$12.138.6%
      Bowling $22.22$18.0023.5%

      Groceries

      Item Fort Morgan National avg. Difference
      Ground Beef $5.56$5.844.8%
      Fried Chicken $1.43$1.578.9%
      Milk $4.89$4.674.7%
      Potatoes $4.62$4.936.4%
      Pizza $11.06$12.098.5%
      Beer $11.34$10.418.9%

      Health Care

      Item Fort Morgan National avg. Difference
      Optometrist $110.45$125.6812.1%
      Doctor $188.89$135.7839.1%
      Dentist $107.78$113.294.9%
      Ibuprofen $10.80$10.651.4%
      Lipitor $477.35$468.601.9%

      Housing

      Item Fort Morgan National avg. Difference
      Home Price $184,300.00$184,700.000.2%
      Avg. Mortgage Payment $2,542.08$2,346.698.3%
      Apartment Rent $870.00$949.008.3%

      Transportation

      Item Fort Morgan National avg. Difference
      Gasoline $3.58$3.463.4%
      Tire Balancing $73.58$59.9222.8%

      Utilities

      Item Fort Morgan National avg. Difference
      All Electricity $161.00$193.9917.0%
      Phone $195.56$192.251.7%
      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.
      Weldona, CO1888317.1%
      Snyder, CO1528911.4%
      Log Lane Village, CO1,0578911.3%
      Hillrose, CO312946.0%
      Brush, CO5,408991.0%
      Fort Morgan, CO11,311990.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Mapleton, ON11,305n/a 
      Sandy, OR11,31912424.3%
      Lowes Island, VA11,31916868.3%
      Valley Center, CA11,32016464.3%
      Pasadena Hills, FL11,3011043.6%
      Fort Morgan, CO11,311990.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.