| Index | Parker | Colorado | National |
| Cost of living | 142 | 115 | 100 |
| Groceries | 103 | 104 | 100 |
| Health care | 109 | 107 | 100 |
| Housing | 224 | 136 | 100 |
| Transportation | 108 | 106 | 100 |
| Utilities | 107 | 108 | 100 |
| Lifestyle & Entertainment | 104 | 107 | 100 |
| Household Items | 102 | 105 | 100 |
| Education & Childcare | 114 | 111 | 100 |
Understanding the cost of living in Parker 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 Parker cost of living index is 142, which is 42% 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.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Parker is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Parker falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs significantly influence the Parker cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 124%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Is Parker affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Parker, for instance, where the median home price falls 145.6% higher than the national average, and monthly rent rates are 73.5% higher than usual. Additionally, median income levels contribute to the equation, with Parker flaunting a median household income of $168,231, 106.8% higher than the national norm.
Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday household expenses like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Parker starts at 2.9% and the income tax rates start at 4.4%.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Parker, the housing index comes in at 124% higher than the national average.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Parker, the groceries index registers 3.2% higher than the national average.
The cost of living data for Parker shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $197,592 | $16,466 | $4,610 | $5,928 |
| Renters | $98,116 | $8,176 | $2,289 | $2,944 |
| State | General Sales Tax | With Max Surtax |
| Colorado | 2.9% | 10% |
| State | Income Tax (Low) | Income Tax (High) |
| Colorado | 4.4% | 4.4% |
| City | Population | Cost of Living Index | National Avg. |
| Glendale CDP, CO | 80 | 109 | 9.1% |
| Franktown, CO | 221 | 105 | 5.3% |
| Sheridan, CO | 6,195 | 116 | 16.0% |
| Glendale, CO | 5,325 | 119 | 19.3% |
| Louviers, CO | 389 | 120 | 19.6% |
| Parker, CO | 57,520 | 142 | 41.7% |
| City | Population | Cost of Living Index | National Avg. |
| Euless, TX | 57,525 | 104 | 4.2% |
| Kendale Lakes, FL | 57,544 | 120 | 20.2% |
| Commerce City, CO | 57,428 | 126 | 25.9% |
| New Brunswick, NJ | 57,400 | 124 | 23.7% |
| Fountain Valley, CA | 57,666 | 189 | 89.2% |
| Parker, CO | 57,520 | 142 | 41.7% |
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