Inverness, Colorado Cost Of Living

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Overall 28%

Goods & Services 9%

Housing 89%

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	Inverness	Colorado	National
Cost of living	128	110	100
Goods & Services	109	103	100
Groceries	98	97	100
Health care	104	104	100
Housing	189	134	100
Transportation	104	102	100
Utilities	81	86	100

Key findings

The cost of living in Inverness is 16% higher than the Colorado average
The cost of living in Inverness is 28% higher than the national average
Inverness housing is 89% 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	$101,360	$8,447	$2,365	$3,041
Renters	$88,833	$7,403	$2,073	$2,665

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	Inverness	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	Inverness	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	Inverness	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	Inverness	National avg.	Difference
Home Price	$373,300.00	$184,700.00	102.1%
Avg. Mortgage Payment	$1,840.89	$1,273.32	44.6%
Apartment Rent	$1,497.00	$949.00	57.7%

Transportation

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

Utilities

Item	Inverness	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%
Sheridan, CO	5,965	99	-1%
Aurora, CO	351,131	105	5%
Inverness, CO	1,189	128	28%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Ravenna, MI	1,189	85	-15%
Worthington, IN	1,189	81	-19%
Cole Camp, MO	1,188	81	-19%
Monticello, WI	1,188	95	-5%
Columbine Valley, CO	1,190	181	81%
Inverness, CO	1,189	128	28%

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

Inverness, CO Cost of Living

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