F
57%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
191%
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 Louisville Colorado National
Cost of living157111100
Goods & Services104104100
Groceries96101100
Health care89100100
Housing291134100
Transportation109105100
Utilities8891100

An Overview of Cost of Living in Louisville, CO

Understanding the cost of living in Louisville can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Louisville cost of living index is 157, which is 57% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

The cost of living in Louisville is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Louisville falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a very significant part of the Louisville cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 191% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Louisville?

The real experts on a city are its residents. That's why we reached out to 5 locals to get their views on the cost of living in Louisville. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 40% found it budget-friendly with decreasing prices, while 60% said it's simply not affordable as prices have continued to rise.

Is Louisville Affordable?

Is Louisville an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Louisville, the median home price is 239.7% higher than what most folks pay across the country, and monthly rent prices are 77.2% higher than the usual rates. Income levels in Louisville come in at $116,073, which is 109.8% higher than the national average.

What Factors can Influence the Cost of Living in Louisville?

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Louisville, the transportation index is 8.5% higher than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Louisville, the general sales tax rate starts at 2.9%, and income tax rates begin at 4.4%.

Where is the Data From?

The Louisville cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Louisville is 41% higher than the Colorado average
  • The cost of living in Louisville is 57% higher than the national average
  • Louisville housing is 191% higher 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 Louisville

See all the best places to live around Louisville

Compare Louisville, CO Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$141,623$11,802$3,304$4,249
      Renters$71,915$5,993$1,678$2,158
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Louisville, CO, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Louisville, homeowners have a median income of $141,623. Using that number, a maximum of $3,304 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $71,915, which means there is a maximum of $1,678 to be spent on the costs of renting a home or apartment.

      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 Louisville 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 Louisville 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 Louisville 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 Louisville National avg. Difference
      Home Price $627,500.00$184,700.00239.7%
      Avg. Mortgage Payment $2,542.08$2,346.698.3%
      Apartment Rent $1,682.00$949.0077.2%

      Transportation

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

      Utilities

      Item Louisville 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.
      Gold Hill, CO1951000.1%
      Crisman, CO511000.1%
      Leyner, CO01000.1%
      Eldorado Springs, CO3251000.1%
      Lakeside, CO68514.8%
      Louisville, CO19,34215757.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Pinole, CA19,34316767.3%
      Plattsburgh, NY19,3431010.5%
      Foley, AL19,337963.5%
      Brigham City, UT19,336990.9%
      Englewood, FL19,3321043.8%
      Louisville, CO19,34215757.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.