Denver Cost of Living 2022-2023

Denver, Colorado is known for its outdoor recreation opportunities and bustling city life, but what about its cost of living?

Overall, Denver has a higher cost of living compared to the national average, with housing being one of the biggest expenses. The average cost of a home in Denver is around $632,000, which is significantly higher than the national average of $320,000. Renting can also be expensive, with the average monthly rent for a one-bedroom apartment hovering around $1,500.

Food and transportation costs are also higher in Denver compared to the national average. Groceries and dining out can add up quickly, with prices being slightly above the national average. The city’s public transportation system, RTD, offers various options, but monthly passes can cost upwards of $100.

However, Denver does offer a relatively high median household income, around $72,000, which can help offset the higher cost of living. The city also has a thriving job market, particularly in industries such as tech and healthcare, which can provide residents with higher-paying employment opportunities.

In conclusion, Denver’s cost of living is higher compared to the national average, particularly in areas such as housing and transportation. However, the city’s strong job market and higher median household income can help balance out the expenses.