Parker, Colorado Cost Of Living

Buy Rent

F

Overall 23%

Goods & Services 11%

Housing 68%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Parker	Colorado	National
Cost of living	123	111	100
Goods & Services	111	105	100
Groceries	95	98	100
Health care	102	98	100
Housing	168	134	100
Transportation	111	105	100
Utilities	82	88	100

Key findings

The cost of living in Parker is 11% higher than the Colorado average
The cost of living in Parker is 23% higher than the national average
Parker housing is 68% 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

Most Affordable Places to Live in and Around Parker

See all the best places to live around Parker

Compare Parker, CO Cost of Living

See all Parker poll results

The best places in Colorado

Here are the best places to live in Colorado

Check out the 10 safest cities in Colorado

These are the 10 most affordable cities in Colorado

Top 10 cities in Colorado with the best education system

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	$115,056	$9,588	$2,684	$3,452
Renters	$55,156	$4,596	$1,287	$1,655

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Parker, 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 Parker, homeowners have a median income of $115,056. Using that number, a maximum of $2,684 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $55,156, which means there is a maximum of $1,287 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	4.63%	4.63%

Goods & Services

Item	Parker	National avg.	Difference
Haircut	$24.13	$20.27	19.0%
Beauty Salon	$44.79	$40.39	10.9%
Toothpaste	$2.10	$2.36	11.0%
Shampoo	$0.95	$1.08	11.4%
Movie	$13.95	$10.99	27.0%
Bowling	$22.38	$15.49	44.5%

Groceries

Item	Parker	National avg.	Difference
Ground Beef	$4.02	$4.30	6.5%
Fried Chicken	$1.24	$1.40	11.6%
Milk	$1.79	$2.20	18.9%
Potatoes	$2.51	$3.22	22.1%
Pizza	$12.30	$10.74	14.5%
Beer	$9.38	$9.60	2.3%

Health Care

Item	Parker	National avg.	Difference
Optometrist	$110.56	$109.73	0.8%
Doctor	$113.95	$118.34	3.7%
Dentist	$111.41	$100.94	10.4%
Ibuprofen	$9.25	$9.93	6.9%
Lipitor	$476.06	$469.53	1.4%

Housing

Item	Parker	National avg.	Difference
Home Price	$330,800.00	$184,700.00	79.1%
Avg. Mortgage Payment	$1,750.05	$1,229.62	42.3%
Apartment Rent	$1,350.00	$949.00	42.3%

Transportation

Item	Parker	National avg.	Difference
Gasoline	$2.94	$2.71	8.3%
Tire Balancing	$60.53	$51.86	16.7%

Utilities

Item	Parker	National avg.	Difference
All Electricity	$117.89	$170.84	31.0%
Phone	$186.45	$187.18	0.4%

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.
Glendale CDP, CO	78	104	3.7%
Glendale, CO	4,905	97	2.9%
Sheridan, CO	5,965	100	0.0%
Elizabeth, CO	1,174	105	5.3%
Sedalia, CO	157	109	8.5%
Parker, CO	48,442	123	23.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Roswell, NM	48,407	82	17.7%
Newark, OH	48,477	85	15.0%
East Lansing, MI	48,395	97	2.6%
Azusa, CA	48,498	131	31.2%
Middletown, OH	48,527	87	13.3%
Parker, CO	48,442	123	23.0%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.