## Trinidad cost of living index

 Index Trinidad Colorado National Cost of living index 88 110 100 Index Trinidad Colorado National Goods & Services index 96 103 100 Groceries index 98 97 100 Health care index 92 104 100 Housing index 70 134 100 Transportation index 102 102 100 Utilities index 92 86 100
An overview of the general cost of living index for Trinidad, CO is displayed above for your reference. Residents in Trinidad, CO enjoy a cost of living index of 88. This index is 19% lower than the Colorado average, and 12% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Trinidad, CO, the average cost of goods and services is 7% lower than it is in Colorado, and it is 5% lower than the national average.

## Did you know?

• The cost of living in Trinidad is 19% lower than the Colorado average.
• The cost of living in Trinidad is 12% lower than the national average.
• The cost of housing in Trinidad is 30% lower 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.

## Salary Calculator

Using the salary calculator lets you compare the salary you earn in Trinidad, CO to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Trinidad, CO, you have to earn a higher income in order to still have the same standard of living. To operate the Trinidad, CO salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

## Median Income & Debt-To-Income Ratio

 Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI) Owners \$49,321 \$4,110 \$1,151 \$1,480 Renters \$26,287 \$2,191 \$613 \$789
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Trinidad, CO, as well as what the average cost of living is. 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 payment and not more than 36 percent of income on all expenses and debts. In Trinidad, CO homeowners have a median income of \$49,321. Using that number, you will come up with a maximum of \$1,151 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is \$26,287, which means there is a maximum of \$613 to be spent on the costs of renting a home or apartment.

 State General Sales Tax With Max Surtax Colorado 2.9% 10%

 State Income Tax (Low) Income Tax (High) Colorado 4.63% 4.63%
One thing to keep in mind when considering the cost of living in Trinidad, CO is the Colorado sales tax and Colorado income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Colorado sales tax rate is 2.9% and the maximum surtax that can be charged is 10%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Colorado income tax rates range from 4.63% to 4.63%.

## Goods & Services

 Item Trinidad National avg. Difference Haircut \$16.50 \$17.49 5.7% Beauty Salon \$35.33 \$38.17 7.4% Toothpaste \$2.15 \$2.32 7.4% Shampoo \$1.09 \$1.01 7.7% Movie \$10.82 \$10.72 0.9% Bowling \$10.00 \$13.86 27.9%

## Groceries

 Item Trinidad National avg. Difference Ground Beef \$3.20 \$3.90 17.9% Fried Chicken \$1.21 \$1.40 13.3% Milk \$1.69 \$1.96 13.9% Potatoes \$3.32 \$3.18 4.3% Pizza \$8.59 \$10.39 17.4% Beer \$9.24 \$9.23 0.1%

## Health Care

 Item Trinidad National avg. Difference Optometrist \$88.00 \$106.34 17.2% Doctor \$98.00 \$115.25 15.0% Dentist \$88.50 \$98.38 10.0% Ibuprofen \$9.31 \$9.26 0.5% Lipitor \$497.77 \$466.47 6.7%

## Housing

 Item Trinidad National avg. Difference Home Price \$127,500.00 \$184,700.00 31.0% Avg. Mortgage Payment \$1,146.14 \$1,273.32 10.0% Apartment Rent \$682.00 \$949.00 28.1%

## Transportation

 Item Trinidad National avg. Difference Gasoline \$2.84 \$2.59 9.7% Tire Balancing \$45.32 \$48.90 7.3%

## Utilities

 Item Trinidad National avg. Difference All Electricity \$143.89 \$167.60 14.2% Phone \$181.02 \$163.42 10.8%
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. Valdez, CO 6 96 -4% Starkville, CO 69 77 -23% Hoehne, CO 80 86 -14% Jansen, CO 213 92 -8% Cokedale, CO 111 93 -7% Trinidad, CO 8,280 88 -12%

## Cities with similar population

 City, State Population Cost of Living Index National Avg. Mount Vista, WA 8,279 127 27% Port Jefferson Station, NY 8,279 140 40% Princeton, TX 8,278 89 -11% Bellevue, PA 8,285 90 -10% Montvale, NJ 8,285 162 62% Trinidad, CO 8,280 88 -12%
Source: The Trinidad, CO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.
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