| Index | Welby | Colorado | National |
| Cost of living | 117 | 115 | 100 |
| Groceries | 105 | 104 | 100 |
| Health care | 107 | 107 | 100 |
| Housing | 139 | 136 | 100 |
| Transportation | 110 | 106 | 100 |
| Utilities | 108 | 108 | 100 |
| Lifestyle & Entertainment | 112 | 107 | 100 |
| Household Items | 106 | 105 | 100 |
| Education & Childcare | 108 | 111 | 100 |
Getting a feel for the cost of living in Welby is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Welby is 117, which is 17% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
Housing costs are a major factor in the Welby cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 38.9% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
Is Welby an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Welby is 36.7% higher than the national average, while the average monthly rent prices are 44.1% higher than average. The affordability of any location can also be influenced by median income levels. Welby has a median household income of $98,831, which is 21.5% higher than the national average.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Welby, the housing index is 38.9% higher than the national average.
Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Welby, the utilities index registers at 7.7% higher than the national average.
The Welby cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $108,916 | $9,076 | $2,541 | $3,268 |
| Renters | $69,189 | $5,766 | $1,614 | $2,076 |
| 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. |
| Leyner, CO | 0 | 109 | 8.9% |
| Eldorado Springs, CO | 332 | 109 | 8.9% |
| Glendale CDP, CO | 80 | 109 | 9.1% |
| Lakeside, CO | 6 | 90 | 10.0% |
| Federal Heights, CO | 14,024 | 95 | 5.1% |
| Welby, CO | 15,922 | 117 | 17.0% |
| City | Population | Cost of Living Index | National Avg. |
| Middleburg Heights, OH | 15,913 | 95 | 5.3% |
| Wilkinsburg, PA | 15,913 | 91 | 9.4% |
| Frankfort, IN | 15,906 | 84 | 16.0% |
| Comox, BC | 15,938 | n/a | |
| Coto de Caza, CA | 15,939 | 243 | 143.2% |
| Welby, CO | 15,922 | 117 | 17.0% |
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