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Cheapest places to live in Colorado: Colorado’s spectacular mountains and numerous scenic hiking trails make it a haven for outdoor enthusiasts. From skiing and hiking to going on food walks and partying in lively bars, there is an array of recreational activities to enjoy here.
No wonder the Centennial State draws so many to call it home. But with its many attractive offerings, the housing market in the state is competitive.
Looking for a budget-friendly place to put down your roots?
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Let’s help you narrow down your choices with our list of the cheapest places to live in Colorado:-
Looking for a serene rural vibe?
Lamar may be the perfect choice.
Located close to the Kansas border, this small town is perched on the Arkansas River floodplain and features lush natural beauty.
You’ll also find many hiking trails here. Although there isn’t a vibrant entertainment scene here, this less populated town is known for its affordability.
The median home price here is $215K while the average rent here is $1,150.
The cost of living here is around 40% less than the national average.
Around 50 miles from Denver lies the small agricultural town of Milliken.
It offers easy access to a plethora of outdoor recreational activities from hiking to golfing.
You’ll also find numerous restaurants here.
However, the schools in the town are not as highly-rated as many others on the list. But if that isn’t a concern, this charming town is an excellent and affordable choice.
The median home price here is $420K and the average cost of living is around 18% less than the state average.
Looking to rent?
You can find rental options at around $2,450.
This charming small town has a rich history due to the Santa Fe Trail and the discovery of coal in the region. It exudes a rural vibe and you’ll find many green spaces here.
From fishing in Trinidad State Lake Park, and camping in the San Isabel National Forest to soaking in some history at the Trinidad History Museum and admiring artworks in Corazon Gallery, there are plenty of recreational activities to enjoy here.
It is one of the cheapest places to live in Colorado with the average cost of living being 38% less than the state.
Buying a house here is also affordable with the median home price being around $259K.
If you prefer to rent, the average rent here is around $1,295. Some neighbourhoods are safer than others so keep that in mind while choosing a location here.
Colorado Springs #4
The largest town in the state, Colorado Springs comes with plenty of attractive offerings.
You’ll feel close to nature while still enjoying urban amenities.
It offers access to many fascinating natural attractions such as Pikes Peak, Garden of the Gods, and Seven Falls amongst others. There is no dearth of outdoor activities to enjoy here.
From highly-rated schools to a vibrant nightlife scene, the city offers something for everyone, drawing youngsters and families alike to take up residence here.
It has a lower cost of living as compared to big cities like Denver. The median home price here is $485K while the average rent is around $1,534.
Fort Lupton #5
Only a short drive away from Denver, Fort Lupton offers easy access to the big city entertainment scene without the high cost of living.
Set along the South Platte River, it features many beautiful open spaces and is home to a wide variety of plant and animal species.
Its low crime rate and tranquil suburban vibe draw many to call it home.
Couple that with numerous excellent restaurants and scenic parks that offer plenty of activities for outdoor recreation.
The median home price here is around $462K while the average rent is around $1,123 per month.
Canon City #6
Whether you’re a nature lover or an outdoor enthusiast, this beautiful town won’t disappoint. The town is surrounded by vast protected land featuring lush greenery.
From fishing and hiking to rock climbing and biking, there is a plethora of outdoor recreational activities to indulge in here.
The city is known for its relatively pleasant climate with warmer winters than many other towns in the state.
From exploring its historic downtown, strolling across the nearby Royal Gorge Bridge & Park to lounging by the Arkansas River, there are ample recreational activities to indulge in here.
You can enjoy all this at an affordable price since the cost of living here is around 11% less than the national average.
The median home price here is around $360K and you can find rental options at around $1,400.
La Junta #7
This town features lush natural beauty and offers an affordable cost of living. Home to many beautiful parks and trails, there is plenty of outdoor recreational activities to enjoy here.
From fishing in the nearby rivers to exploring the stunning Royal Gorge Park, and picnicking by the lakes close by, there is something here for everyone.
Love eating out?
There are numerous restaurants and bars here. With the cost of living being 59% less than the state average, it’s a pocket-friendly choice.
The median home price here is $153K while the average rent is around $950.
A notable mention here is Brush which exudes a suburban vibe. It has a median home price of around $325K and an average rent of around $1,200.
So, pick the one that ticks off all the boxes on your checklist and get ready to call this stunning state home.
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Q. What city in Colorado has the lowest cost of living?
La Junta is considered the most affordable city to live in Colorado.
Q. Is it expensive to live in Colorado?
The cost of living in Colorado is around 5% higher than the national average while the housing cost is 21% higher.
Q. Can I afford to live in Colorado?
You can live comfortably in Colorado if you have an annual income of over $100,200.