Woodmoor, Colorado Cost Of Living

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Overall 28%

Goods & Services 4%

Housing 92%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Woodmoor	Colorado	National
Cost of living	128	110	100
Goods & Services	104	103	100
Groceries	94	97	100
Health care	107	104	100
Housing	192	134	100
Transportation	99	102	100
Utilities	99	86	100

Key findings

The cost of living in Woodmoor is 17% higher than the Colorado average
The cost of living in Woodmoor is 28% higher than the national average
Woodmoor housing is 92% higher than the national average
Colorado general sales tax is 43% lower than the national average
Colorado state income tax is 88% higher than the national average

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Price difference in compared to

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

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$126,977	$10,581	$2,963	$3,810
Renters	$76,250	$6,354	$1,779	$2,288

To approximate the cost of living and the housing affordability in Woodmoor, CO, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Woodmoor have a median income of $126,977. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,963 per month to avoid calamity and poverty. The renters in the city have an income of about $76,250, which would make their monthly maximum allowable rental costs $1,779.

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%

Goods & Services

Item	Woodmoor	National avg.	Difference
Haircut	$20.57	$17.49	17.6%
Beauty Salon	$41.14	$38.17	7.8%
Toothpaste	$2.74	$2.32	18.1%
Shampoo	$1.02	$1.01	0.8%
Movie	$10.24	$10.72	4.5%
Bowling	$15.00	$13.86	8.2%

Groceries

Item	Woodmoor	National avg.	Difference
Ground Beef	$3.95	$3.90	1.3%
Fried Chicken	$1.44	$1.40	3.2%
Milk	$1.62	$1.96	17.4%
Potatoes	$2.71	$3.18	14.9%
Pizza	$11.17	$10.39	7.5%
Beer	$9.12	$9.23	1.2%

Health Care

Item	Woodmoor	National avg.	Difference
Optometrist	$108.79	$106.34	2.3%
Doctor	$145.00	$115.25	25.8%
Dentist	$99.14	$98.38	0.8%
Ibuprofen	$8.56	$9.26	7.6%
Lipitor	$493.76	$466.47	5.9%

Housing

Item	Woodmoor	National avg.	Difference
Home Price	$402,000.00	$184,700.00	117.7%
Avg. Mortgage Payment	$1,220.36	$1,273.32	4.2%
Apartment Rent	$1,257.00	$949.00	32.5%

Transportation

Item	Woodmoor	National avg.	Difference
Gasoline	$2.56	$2.59	1.3%
Tire Balancing	$50.25	$48.90	2.8%

Utilities

Item	Woodmoor	National avg.	Difference
All Electricity	$165.38	$167.60	1.3%
Phone	$179.26	$163.42	9.7%

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.
Green Mountain Falls, CO	644	103	3%
Larkspur, CO	221	105	5%
Palmer Lake, CO	2,558	106	6%
Cascade-Chipita Park, CO	1,365	107	7%
Woodland Park, CO	7,180	112	12%
Woodmoor, CO	8,587	128	28%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
New Albany, MS	8,589	82	-18%
Fair Oaks Ranch, TX	8,582	125	25%
North Weeki Wachee, FL	8,593	93	-7%
Virginia, MN	8,594	91	-9%
Evergreen, CO	8,580	131	31%
Woodmoor, CO	8,587	128	28%

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

Woodmoor, CO Cost of Living

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