Gunbarrel, CO Cost Of Living

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Gunbarrel cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Gunbarrel	Colorado	National
Cost of living index	126	110	100
Index	Gunbarrel	Colorado	National
Goods & Services index	104	103	100
Groceries index	84	97	100
Health care index	98	104	100
Housing index	200	134	100
Transportation index	95	102	100
Utilities index	79	86	100

An overview of the general cost of living index for Gunbarrel, CO is displayed above for your reference. Residents in Gunbarrel, CO enjoy a cost of living index of 126. This index is 15% higher than the Colorado average, and 26% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Gunbarrel, CO, the average cost of goods and services is 1% higher than it is in Colorado, and it is 4% higher than the national average.

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The cost of living in Gunbarrel is 15% higher than the Colorado average.
The cost of living in Gunbarrel is 26% higher than the national average.
The cost of housing in Gunbarrel is 100% higher than the national average.
Colorado general sales tax is 43% lower than the national average.
Colorado state income tax is 108% higher than the national average.

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Use the salary calculator to compare your current income in Gunbarrel, CO to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Gunbarrel, CO, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Gunbarrel, CO salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$101,203	$8,434	$2,361	$3,036
Renters	$55,439	$4,620	$1,293	$1,663

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Gunbarrel, 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 Gunbarrel, CO homeowners, is $101,203. This would allow for a maximum of $2,361 per month to be spent on housing costs. For renters, the median monthly income is $55,439 which would result in a maximum of $1,293 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%

The Colorado sales tax and Colorado income tax rates should definitely be considered when determining the overall cost of living in Gunbarrel, CO. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Colorado sales tax is 2.9% and the maximum surtax is 10%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Colorado income tax rates range from 4.63% to 4.63%.

Goods & Services

Item	Gunbarrel	National avg.	Difference
Haircut	$24.00	$17.49	37.2%
Beauty Salon	$35.00	$38.17	8.3%
Toothpaste	$1.79	$2.32	22.9%
Shampoo	$0.88	$1.01	13.0%
Movie	$13.49	$10.72	25.8%
Bowling	$20.00	$13.86	44.3%

Groceries

Item	Gunbarrel	National avg.	Difference
Ground Beef	$3.94	$3.90	1.0%
Fried Chicken	$1.48	$1.40	6.0%
Milk	$1.19	$1.96	39.4%
Potatoes	$1.97	$3.18	38.1%
Pizza	$10.99	$10.39	5.7%
Beer	$8.98	$9.23	2.7%

Health Care

Item	Gunbarrel	National avg.	Difference
Optometrist	$108.00	$106.34	1.6%
Doctor	$120.00	$115.25	4.1%
Dentist	$90.00	$98.38	8.5%
Ibuprofen	$7.97	$9.26	13.9%
Lipitor	$508.67	$466.47	9.0%

Housing

Item	Gunbarrel	National avg.	Difference
Home Price	$416,300.00	$184,700.00	125.4%
Avg. Mortgage Payment	$1,896.78	$1,273.32	49.0%
Apartment Rent	$1,324.00	$949.00	39.5%

Transportation

Item	Gunbarrel	National avg.	Difference
Gasoline	$2.26	$2.59	12.8%
Tire Balancing	$55.00	$48.90	12.5%

Utilities

Item	Gunbarrel	National avg.	Difference
All Electricity	$103.99	$167.60	38.0%
Phone	$183.87	$163.42	12.5%

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.
Leyner, CO	27	95	-5%
Seven Hills, CO	98	95	-5%
Federal Heights, CO	12,173	80	-20%
Coal Creek town, CO	308	96	-4%
Dacono, CO	4,623	96	-4%
Gunbarrel, CO	9,559	126	26%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Progress, PA	9,560	97	-3%
Marlton, MD	9,564	120	20%
Pine Ridge, FL	9,554	103	3%
Mooresville, IN	9,553	89	-11%
Alachua, FL	9,553	99	-1%
Gunbarrel, CO	9,559	126	26%

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

Gunbarrel, CO Cost of Living