Steamboat Springs cost of living index

A general overview of the cost of living index for Steamboat Springs, CO is displayed above. In Steamboat Springs, CO, the overall cost of living index is 139, which is 28% higher than the Colorado average and 39% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Steamboat Springs, CO, the city's goods and services are 9% higher than the Colorado average and 9% higher than the U.S. average.

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Salary Calculator

The salary calculator is meant to help you compare your salary in Steamboat Springs, CO to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Steamboat Springs, CO, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Steamboat Springs, CO salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

One can approximate the cost of living and the housing affordability in Steamboat Springs, CO by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Steamboat Springs, CO have a median income of $68,367. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,595 per month to avoid calamity and poverty. The renters in the city have an income of about $39,100, which would make their monthly maximum allowable rental costs $912.

Colorado Sales Tax

Colorado Income Tax

When you are determining the total cost of living in Steamboat Springs, CO you will want to make sure you consider both the Colorado sales tax and the Colorado income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Colorado is 2.9%, with the highest surtax being 10%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Colorado have a range from 4.63% to 4.63%.

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

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.

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Source: The Steamboat Springs, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.