Colorado is a beautiful state in the United States, renowned for its mountainous terrain and beautiful natural landscapes.
There are many cities in Colorado that offer their residents the chance to experience beautiful natural amenities, while also maintaining modernized living standards. But, living in these cities is quite expensive due to their utilities and conveniences.
Here is a list of the most expensive cities in Colorado to live in based on home price to income ratio, to give you an idea about the expenses of moving to any one of these states.
Boulder is one of the best cities to live in Colorado, which might also explain why it’s the most expensive city in Colorado. The average price of houses in Boulder is around $736,000 and the median income is just over $72,000.
That means, the home price is 10 times more than the income in this city, which is staggeringly expensive. The total population of Boulder is approximately 110,000. The city is also renowned for being the home of the Rocky Mountains.
Avon is a small and wonderful city in Colorado that has a population of just around 7,000. The average price of a house in Avon is $543,500; however, the average income in the city is just around $66,000.
This is why Avon has the second-highest home price to income ratio, making it one of the most expensive cities in Colorado to live in. Additionally, the city is known for its cultural heritage, art and special events.
One of the wealthiest cities in the state, Aspen features the wealthiest neighborhoods in Colorado. The population of Aspen is just over 7,500, and it has one of the highest average home prices in Colorado at $558,000.
Moreover, the median income in the city of Aspen is $77,669, the second-highest in the state of Colorado. But, despite the high income, Aspen still has one of the highest home price to income ratios in the state.
You might also want to know about the most expensive homes in Colorado.
Carbondale has an average income of $85,000, making it the wealthiest city in Colorado to live in. However, this incredibly high income comes with staggeringly high house prices as well; the average price of homes in Carbondale is $645,000.
The total population of this region is over 6,500. It is one of the best cities in Colorado in terms of providing great institutions and top-class education.
5. Steamboat Springs(ExpensiveScore:13.0)
Steamboat Springs is a beautiful city in Colorado with a small population of just over 13,000. The city has a median home price of $585,000, but a relatively high average income of $74,351. The home price to income ratio in this city is just around 8 times, making it a very expensive place to live permanently.
Vail is one of the most expensive and desirable cities in Colorado to live in, which explains its staggering average house price of $793,000. This is the highest average house price on this list and the city of Colorado.
However, these staggering prices home with a very high average income of $82,661. It is a beautiful city to live in that offers a tranquil and relaxing downtown vibe. Moreover, Vail is famed in Colorado for its stunning architecture.
Make sure to also check out the tallest buildings in Colorado.
With a population of just 5,430, Edgewater is one of the least-populated cities on our list. The average price of homes in Edgewater is just under $447,000, but its median income is just $59,375.
This is the main reason behind the high home price to income ratio in this city. Edgewater is a great city to live in for those who prefer a calm, and quiet living environment.
Durango is a well-known city in Colorado, with a population of slightly below 20,000. Situated near the Mexican border, Durango’s cultural and societal aspects have a huge Mexican influence.
Also, this city has a median home price of $472,000, which is quite high in the state of Colorado. Additionally, the average income in Durango is around $65,424.
A former gold rush town at the foothills of the legendary Rock Mountains in Colorado, is appropriately named Golden. The city is home to just over 20,000 residents, who enjoy the excellent natural amenities of this city.
The median price of a house in Golden is $541,400, which is relatively high in the state. However, it is also one of the highest income cities in Colorado, with an average income of $80,334.
Lafayette is one of the best places to live in Colorado, with a population of just over 28,000. The city has an average income of over 85,000, the highest of any city on this list, and is one of the wealthiest cities in Colorado.
Unsurprisingly, it is also a very expensive city in Colorado to live in, with an average house price of $458,300. However, its stunning median income is the reason it has a relatively lower home price to income ratio compared to any other city on this list.
The City of Salida is the largest populated city in Chaffee County, which is located in Colorado, United States. It is also the Constitutional city that serves as the county seat for Chaffee County. At the time of the census in 2020, there were 5,666 people living there.
Eagle County, Colorado, in the United States of America, is home to the most populated municipality in the United States, and that municipality is the home rule town of Gypsum.
The population of the town as of the United States Census in the year 2020 was 8,040, reflecting a gain of +24.13% since the population count taken in the year 2010. The Edwards, Colorado Micropolitan Statistical Area includes Gypsum as a community.
Most of the expensive cities in Colorado seem to be primarily residential or suburban cities with a low population. Moreover, the amazing living standards and natural amenities offered by these cities have made them even more expensive to live in, compared to quite a few of the metro cities in Colorado.