Greenwood Village, Colorado Cost Of Living

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Overall 83%

Goods & Services 9%

Housing 274%

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	Greenwood Village	Colorado	National
Cost of living	183	110	100
Goods & Services	109	103	100
Groceries	98	97	100
Health care	104	104	100
Housing	374	134	100
Transportation	104	102	100
Utilities	81	86	100

Key findings

The cost of living in Greenwood Village is 67% higher than the Colorado average
The cost of living in Greenwood Village is 83% higher than the national average
Greenwood Village housing is 274% 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	$176,694	$14,725	$4,123	$5,301
Renters	$70,652	$5,888	$1,648	$2,120

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Greenwood Village, 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 Greenwood Village homeowners, is $176,694. This would allow for a maximum of $4,123 per month to be spent on housing costs. For renters, the median monthly income is $70,652 which would result in a maximum of $1,648 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	Greenwood Village	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	Greenwood Village	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	Greenwood Village	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	Greenwood Village	National avg.	Difference
Home Price	$854,700.00	$184,700.00	362.8%
Avg. Mortgage Payment	$1,840.89	$1,273.32	44.6%
Apartment Rent	$1,572.00	$949.00	65.6%

Transportation

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

Utilities

Item	Greenwood Village	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.
Glendale CDP, CO	78	102	2%
Lakeside, CO	10	80	-20%
Glendale, CO	4,905	96	-4%
North Washington, CO	324	94	-6%
Sheridan, CO	5,965	99	-1%
Greenwood Village, CO	15,208	183	83%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Lake Wales, FL	15,206	85	-15%
North Myrtle Beach, SC	15,201	110	10%
Pataskala, OH	15,225	95	-5%
Hernando, MS	15,227	89	-11%
Alpine, CA	15,188	148	48%
Greenwood Village, CO	15,208	183	83%

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

Greenwood Village, CO Cost of Living

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