Steamboat Springs, CO Cost Of Living

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Steamboat Springs cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Steamboat Springs	Colorado	National
Cost of living index	139	110	100
Index	Steamboat Springs	Colorado	National
Goods & Services index	109	103	100
Groceries index	103	97	100
Health care index	114	104	100
Housing index	219	134	100
Transportation index	105	102	100
Utilities index	84	86	100

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 26% 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 6% higher than the Colorado average and 9% higher than the U.S. average.

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Did you know?

The cost of living in Steamboat Springs is 26% higher than the Colorado average.
The cost of living in Steamboat Springs is 39% higher than the national average.
The cost of housing in Steamboat Springs is 119% higher than the national average.
Colorado general sales tax is 43% lower than the national average.
Colorado state income tax is 108% higher than the national average.

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Compare Steamboat Springs, CO Cost of living To Other Cities

Salary Calculator

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

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

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$68,367	$5,697	$1,595	$2,051
Renters	$39,100	$3,258	$912	$1,173

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

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%

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

Item	Steamboat Springs	National avg.	Difference
Haircut	$21.33	$17.49	22.0%
Beauty Salon	$51.33	$38.17	34.5%
Toothpaste	$2.94	$2.32	26.8%
Shampoo	$0.99	$1.01	1.8%
Movie	$10.50	$10.72	2.1%
Bowling	$4.50	$13.86	67.5%

Groceries

Item	Steamboat Springs	National avg.	Difference
Ground Beef	$3.77	$3.90	3.2%
Fried Chicken	$1.49	$1.40	6.8%
Milk	$1.79	$1.96	8.8%
Potatoes	$2.37	$3.18	25.4%
Pizza	$9.50	$10.39	8.6%
Beer	$8.41	$9.23	8.9%

Health Care

Item	Steamboat Springs	National avg.	Difference
Optometrist	$160.00	$106.34	50.5%
Doctor	$120.00	$115.25	4.1%
Dentist	$107.50	$98.38	9.3%
Ibuprofen	$9.59	$9.26	3.6%
Lipitor	$448.00	$466.47	4.0%

Housing

Item	Steamboat Springs	National avg.	Difference
Home Price	$481,200.00	$184,700.00	160.5%
Avg. Mortgage Payment	$2,021.28	$1,273.32	58.7%
Apartment Rent	$1,172.00	$949.00	23.5%

Transportation

Item	Steamboat Springs	National avg.	Difference
Gasoline	$2.38	$2.59	8.1%
Tire Balancing	$48.03	$48.90	1.8%

Utilities

Item	Steamboat Springs	National avg.	Difference
All Electricity	$135.26	$167.60	19.3%
Phone	$25.01	$163.42	84.7%

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, State	Population	Cost of Living Index	National Avg.
Oak Creek, CO	879	99	-1%
Steamboat Springs, CO	12,336	139	39%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
North Merrick, NY	12,337	164	64%
Northlake, IL	12,339	102	2%
Bayou Blue, LA	12,333	91	-9%
Panama City Beach, FL	12,333	102	2%
Channahon, IL	12,329	105	5%
Steamboat Springs, CO	12,336	139	39%

Source: The Steamboat Springs, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Steamboat Springs, CO Cost of Living