From the majestic plains and soaring mountain ranges, Colorado is a slice of heaven for those who love the outdoors. No wonder why many people are considering moving to The Centennial State. But the question is, what are the cheapest places to live in Colorado?
The areas in the Southern and Eastern are usually cheaper. On the other hand, the Northern and Western parts are more expensive. Also, know that the closer the place is to the mountains, the more expensive it is going to be.
In this article, we listed the top 10 cheapest places in Colorado. These statistics are based on the study done by SmartAsset. The real estate taxes, closing costs, homeowner’s insurance, and mortgage rates are all considered to come up with this analysis.
Table of Contents
- 10. Wellington
- 9. Roxborough Park
- 8. La Junta
- 7. Gleneagle
- 6. Pueblo West
- 5. Fruitvale
- 4. Cimarron Hills
- 3. Security-Widefield
- 2. Lamar
- 1. Federal Heights
- Cost of Living in Colorado Cities for 2020
- Overview of Cost of Living in Colorado
- Best Places to Retire in Colorado
- Cheapest Places to Live in Colorado Near Denver
- Population: 8,571
- Region: Larimer County
- Median Home Purchase Value: $366,630
- Median Home Rent Value: $1,097
A small, yet friendly town, Wellington is a great place to raise kids for their highly-rated public schools. It is also a great place to live without being too close to Colorado State University but still get that college town experience.
Living in Wellington will provide you with a rural vibe. Houses here are also nice and affordable. The housing market is continuously thriving, mainly due to its amazing location.
It is also located just in the north of Fort Collins. So, even though there are no big stores in this town, driving to a bigger nearby city would be convenient. This beautiful, historic town should be on your list.
9. Roxborough Park
- Population: 9,452
- Region: Douglas County
- Median Home Purchase Value: $393,100
- Median Home Rent Value: $1645
Beautiful, little community, Roxborough Park is another cheaper place in Colorado. This small town, located next to the foothills, is composed of communities with tight-knitted residents. If you’re looking for a place with people who come together for community events, this is an amazing place to be.
Roxborough is located far away from the cities, which makes it perfect for those looking for a peaceful place to live. It’s safe and close to nature, too!
You will get access to common services and general stores within a few miles. So, you don’t have to worry about traveling far for your basic needs. People are friendly, the weather is amazing, and more importantly, cheaper. Living here is surely a win!
8. La Junta
- Population: 6,914
- Region: Otero County
- Median Home Purchase Value: $100,301
- Median Home Rent Value: $693
Do you want to live in a place that will give you a sparse suburban feel? La Junta can give you just that!
Being a small town, there are not many things to do in La Junta. However, this does not change the fact that it is a great place to live!
You can still have access to entertainment, of course! There is a movie theater, lake, and other hangout places that are ideal for all ages. A lot of families and retirees choose to live in La Junta for its low crime rate and of course, affordable cost of living.
- Population: 6,936
- Region: El Paso County
- Median Home Purchase Value: $459,438
- Median Home Rent Value: $1,517
Gleneagle borders the Northern edge of Colorado Springs and the Southern edge of Monument. This area offers great views of the Rocky Mountains. Living here will provide you with quick access to I-25, Northgate, Denver, Monument, and Downtown Colorado Springs.
You’ll also love how nice and friendly people here are. You can simply strike up a conversation with anyone and the next minute, they’ll be your good friends. Most neighborhoods have many kids playing outside, which gives you a great sense of community.
This is a very safe place where you can walk your dog in peace, without having to worry about carrying anything to protect yourself.
6. Pueblo West
- Population: 31,860
- Region: Pueblo County
- Median Home Purchase Value: $295,333
- Median Home Rent Value: $599
Another place that made it to our list is Pueblo West. This area is an ideal place for families and young professionals looking for a cheaper place to live.
Pueblo West is designed to be a rural setting, so, don’t expect to see sidewalks! Instead, enjoy the sights of wide-open fields, numerous parks, and low light pollution that allows you to see the stars at night. This place is very scenic with views of the mountains.
This is where Lake Pueblo is located, which provides water to the region. There are also many biking and hiking trails, fishing spots, and water sports. There are also big supermarkets and good access to health centers.
- Population: 8,021
- Region: Mesa County
- Median Home Purchase Value: $132,161
- Median Home Rent Value: $662
What takes spot number 5 on our list is the small town of Fruitvale. Retirees make up a greater number of the town’s population.
This town is generally safe and located close to many common interests. You’ll be so close to Colorado Mesa University, St. Mary’s Hospital, and many different stores and restaurants. With an average commute time of approximately 22 minutes, this will be a great place for both blue- and white-collar workers.
If you’re someone who loves doing outdoor activities, this a good place for you to live.
4. Cimarron Hills
- Population: 18,285
- Region: El Paso County
- Median Home Purchase Value: $244,800
- Median Home Rent Value: $840
Cimarron Hills is a family-friendly neighborhood located just on the edge of eastern Colorado Springs. Living here, you wouldn’t be too far away from Highway 24, Peterson AFB, Costo, Target, Walmart, and many shops and restaurants. The Colorado Springs Airport is also within proximity!
This is a family-friendly neighborhood, which is perfect for those who have small kids. Children under 5 years old make up an above-average percentage of the population, though young professionals are also a common sight. All in all, the residents of this city are distinctly younger than most cities in the state.
Cimarron Hills will carry on growing economically and will become the city’s new downtown. There will be more employment opportunities for its residents. The neighborhood is predicted to become a sought-after area.
- Population: 34,956
- Region: El Paso County
- Median Home Purchase Value: $292,396
- Median Home Rent Value: $810
If city-living is something you are looking after, then check out Security-Widefield. Due to its proximity to local amenities like restaurants, grocery stores, parks, libraries, and other common amenities, many people choose to live here.
The weather here is nice most of the time. The nightlife is almost nonexistent, and the community is not as great as the ones previously mentioned. However, if that’s something that doesn’t bother you, then this should be a great place.
- Population: 7,606
- Region: Prowers County
- Median Home Purchase Value: $105,500
- Median Home Rent Value: $895
A little, quiet town, Lamar takes the second spot as the cheapest place to live in Colorado. If you’re looking for a place that offers a good community where people work together, this could be the place for you.
But aside from that, you’ll also love the perfect weather here. It’s also a very safe place to be. You’ll see police always patrolling the town to keep everyone safe and not doing something wrong.
Since it is a small town, there’s really nothing much to do. But if that is not a big deal to you, you and your loved ones will surely love living here.
1. Federal Heights
- Population: 12,645
- Region: Adams County
- Median Home Purchase Value: $318,348
- Median Home Rent Value: $1,015
Federal Heights takes the top spot. This is an average neighborhood loved by many families who live here, not only for the cheap living cost but also for other things it offers.
This is another place that will give you that small-town community vibe – small children playing on the street, people connecting to build a strong community, and mom-and-pop shops. It also offers many different attractions and entertainments.
It’s also close to Denver, yet far enough to avoid the hustle and bustle of the city. This offers a community that is safe, friendly, and beautiful.
Cost of Living in Colorado Cities for 2020
|City||Avg. Closing Costs||Annual Property Tax||Annual Homeowner’s Insurance||Avg. Annual Mortgage Payment||
Overview of Cost of Living in Colorado
The data written below is based on the US average of 100. A score that is lower than 100 means cheaper than the US average. Similarly, a score that is higher than 100 means it is above the US average.
Cost of Living
US National Average = 100
Best Places to Retire in Colorado
Choosing a place to retire in Colorado depends on your physical and mental state. Older people need great access to medical care. If that’s something that you prioritize, then places along the Front Range and Grand Junction.
On the other hand, if you’re more interested in living somewhere that is far from the chaos brought by the city, then you have peaceful places to choose from. Pagosa Springs, Estes Park, Durango, and Trinidad are some of the towns that will give you the tranquility you need. Picking from these places, however, means that you’ll have to travel further to access your medical needs.
However, keep in mind that choosing places along the Front Range will cost you more money than choosing from the smaller towns mentioned.
Cheapest Places to Live in Colorado Near Denver
All in all, Colorado is 21.1% more expensive than the rest of the United States. And the more expensive places are usually the cities – one of which is the state’s capital, Denver.
While living in Denver is much cheaper compared to living in places like Seattle and Chicago, it is still relatively pricey. For example, the median cost of buying a home in Denver is $421,900, which almost twice the national average. Fortunately, the suburbs surrounding the city are relatively cheaper.
As mentioned earlier, Federal Heights is a cheap place to live that is not too far from Denver. If you want something closer, Lakewood is the perfect place.
Depending on the specific location you want to be for wanting to be closer to Denver, Aurora and Littleton could also be amazing options. Both places offer light rail lines.
Rents are cheaper in these areas. There is a West light rail line going into downtown, and the commuting time usually takes about 30 minutes from most parts of the suburb. It is also important to take note that the closer you are to downtown, the higher the rents are.