Genesee, Colorado Cost Of Living

Buy Rent

F

Overall 64%

Goods & Services 11%

Housing 205%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Genesee	Colorado	National
Cost of living	164	111	100
Goods & Services	111	105	100
Groceries	95	98	100
Health care	102	98	100
Housing	305	134	100
Transportation	111	105	100
Utilities	82	88	100

Key findings

The cost of living in Genesee is 48% higher than the Colorado average
The cost of living in Genesee is 64% higher than the national average
Genesee housing is 205% 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	$147,059	$12,255	$3,431	$4,412
Renters	$115,739	$9,645	$2,700	$3,473

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Genesee, CO, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Genesee homeowners, is $147,059. This would allow for a maximum of $3,431 per month to be spent on housing costs. For renters, the median monthly income is $115,739 which would result in a maximum of $2,700 to be spent on rental 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	4.63%	4.63%

Goods & Services

Item	Genesee	National avg.	Difference
Haircut	$24.13	$20.27	19.0%
Beauty Salon	$44.79	$40.39	10.9%
Toothpaste	$2.10	$2.36	11.0%
Shampoo	$0.95	$1.08	11.4%
Movie	$13.95	$10.99	27.0%
Bowling	$22.38	$15.49	44.5%

Groceries

Item	Genesee	National avg.	Difference
Ground Beef	$4.02	$4.30	6.5%
Fried Chicken	$1.24	$1.40	11.6%
Milk	$1.79	$2.20	18.9%
Potatoes	$2.51	$3.22	22.1%
Pizza	$12.30	$10.74	14.5%
Beer	$9.38	$9.60	2.3%

Health Care

Item	Genesee	National avg.	Difference
Optometrist	$110.56	$109.73	0.8%
Doctor	$113.95	$118.34	3.7%
Dentist	$111.41	$100.94	10.4%
Ibuprofen	$9.25	$9.93	6.9%
Lipitor	$476.06	$469.53	1.4%

Housing

Item	Genesee	National avg.	Difference
Home Price	$634,000.00	$184,700.00	243.3%
Avg. Mortgage Payment	$1,750.05	$1,229.62	42.3%
Apartment Rent	$2,063.00	$949.00	117.4%

Transportation

Item	Genesee	National avg.	Difference
Gasoline	$2.94	$2.71	8.3%
Tire Balancing	$60.53	$51.86	16.7%

Utilities

Item	Genesee	National avg.	Difference
All Electricity	$117.89	$170.84	31.0%
Phone	$186.45	$187.18	0.4%

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.
Lakeside, CO	10	81	18.9%
Federal Heights, CO	12,173	82	18.3%
Sheridan, CO	5,965	100	0.0%
Idaho Springs, CO	1,937	95	4.9%
Twin Lakes, CO	6,645	96	3.5%
Genesee, CO	3,625	164	64.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Uniontown, OH	3,624	93	7.1%
North East, MD	3,626	110	10.4%
Avenue B and C, AZ	3,623	83	16.8%
Rock Valley, IA	3,623	87	13.0%
Melody Hill, IN	3,623	97	2.6%
Genesee, CO	3,625	164	64.2%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.