Cost Of Living in Palmer Lake, CO

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C-

21%

Overall NAT. AVG.

11%

Goods & Services NAT. AVG.

56%

Housing NAT. AVG.

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	Palmer Lake	Colorado	National
Cost of living	121	111	100
Goods & Services	111	104	100
Groceries	104	101	100
Health care	105	100	100
Housing	156	134	100
Transportation	104	105	100
Utilities	99	91	100

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Cost Of Living Quick Facts

The cost of living in Palmer Lake is 9% higher than the Colorado average
The cost of living in Palmer Lake is 21% higher than the national average
Palmer Lake housing is 56% higher than the national average
Colorado general sales tax is 43% lower than the national average
Colorado state income tax is 69% 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	$100,353	$8,363	$2,341	$3,011
Renters	$38,250	$3,188	$892	$1,148

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	Palmer Lake	National avg.	Difference
Haircut	$33.33	$24.26	37.4%
Beauty Salon	$47.14	$45.56	3.5%
Toothpaste	$3.61	$3.70	2.4%
Shampoo	$1.29	$1.28	0.7%
Movie	$11.74	$12.13	3.2%
Bowling	$18.60	$18.00	3.3%

Groceries

Item	Palmer Lake	National avg.	Difference
Ground Beef	$5.52	$5.84	5.5%
Fried Chicken	$1.39	$1.57	11.4%
Milk	$4.69	$4.67	0.4%
Potatoes	$4.14	$4.93	16.0%
Pizza	$12.36	$12.09	2.2%
Beer	$10.75	$10.41	3.3%

Health Care

Item	Palmer Lake	National avg.	Difference
Optometrist	$115.89	$125.68	7.8%
Doctor	$148.28	$135.78	9.2%
Dentist	$118.46	$113.29	4.6%
Ibuprofen	$10.72	$10.65	0.6%
Lipitor	$514.89	$468.60	9.9%

Housing

Item	Palmer Lake	National avg.	Difference
Home Price	$329,700.00	$184,700.00	78.5%
Avg. Mortgage Payment	$2,599.40	$2,346.69	10.8%
Apartment Rent	$985.00	$949.00	3.8%

Transportation

Item	Palmer Lake	National avg.	Difference
Gasoline	$3.64	$3.46	5.3%
Tire Balancing	$60.47	$59.92	0.9%

Utilities

Item	Palmer Lake	National avg.	Difference
All Electricity	$191.51	$193.99	1.3%
Phone	$189.92	$192.25	1.2%

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.
Divide, CO	127	106	6.4%
Larkspur, CO	244	98	1.8%
Green Mountain Falls, CO	685	120	19.5%
Cascade-Chipita Park, CO	943	124	23.8%
Woodland Park, CO	7,943	125	25.4%
Palmer Lake, CO	2,946	121	21.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Atoka, OK	2,946	92	7.8%
East Greenville, PA	2,945	101	0.6%
White Mountain Lake, AZ	2,947	95	5.4%
Tangerine, FL	2,947	112	11.6%
Boutte, LA	2,944	104	4.4%
Palmer Lake, CO	2,946	121	21.3%