Insights » Colorado cities with highest and lowest household expenses

2023 Report: Cities in Colorado where Household Expenses are Highest and Lowest

How does living in the Centennial State affect your wallet? doxo breaks down key insights about the state’s household expenses, with a close eye to how bills differ in towns and cities. On average, Colorado’s household expenses, doxo’s data reveals, are $2,413 per month.

doxo’s data also has infographics for cities and towns across Colorado, breaking down localized bill pay data figures as well. The state-wide rankings for most and least expensive cities provide insight into cost of living in Colorado and how it changes according to location.

The data sheds light on Colorado’s cost of living through other metrics, too. For example, the “percent of household income” data point shows what percentage of household income local residents spend on bills. doxo’s data also indicates how much more or less expensive specific cities are than the national and state average.

Colorado residents pay $2,413 in household bills a month

The average Colorado household pays $2,413 a month for the 10 most common household bills. This figure takes into account the 10 most common household bills, which are:Mortgage; Rent; Auto Loan; Utilities (electric, gas, water & sewer, and waste & recycling); Auto Insurance; Cable & Internet & Phone, Health Insurance (consumer paid portion); Mobile Phone; Alarm & Security; and Life Insurance.

Colorado residents, overall, pay relatively high household bill expenses: the state ranks 9th out of 50 states in terms of average monthly spending. Slightly more expensive than Colorado is Washington, where residents pay $2,468 a month on average; slightly more affordable is Alaska, where residents pay $2,335.

The most expensive state for household expenses is Hawaii, where residents pay a whopping $3,070 per month. The most affordable state, meanwhile, is West Virginia, where residents pay $1,530 per month.

Colorado’s household expenses, on average, are 17.9% higher than the national average of $2,046.

Absolute dollar amounts don’t tell the full story, however. The “percentage of household income” metric provides a more proportional look at bill spending in a particular location. Colorado households spend 37% of their income on household expenses, which is higher than some states where households pay costlier expenses on average. For example, New Jersey is the 3rd most expensive state, at $2,727 on average per household per month, but this accounts for only 35% of local income.

Annually, Colorado residents pay $57 billion in household bills. See more data about bill pay in Colorado by clicking on the infographic link below.

Data: doxoINSIGHTS’ bill pay infographic about Colorado

• Average Bill Cost per HH: $2,413 per month
• State Bill Pay Market Size: $57 billion
• doxoINSIGHTS State Rank: 9 out of 50
• Percent of HHI Used for Bills: 37%
• Difference from the National Average: 17.9% higher

Housing costs drive Colorado’s high expenses

The average Colorado’s household pays $2,413 in the 10 most common household bills per month. The higher-than-average rent and mortgage prices drive the expenses as high as they are, with both being significantly more than the national average. The average mortgage payment in Colorado is $1,746, and average rent is $1,437, compared to the national average mortgage bill of $1,321 and rent bill of $1,191. This makes Colorado’s mortgage costs 32% higher than the national average, and rent costs 21% higher than the national average.

Life insurance is also an area in which Colorado’s residents spend more than the national average. The average household in the state pays $118 a month for life insurance bills, compared to the national average of $89, making the costs 33% higher than the national average. Health insurance is also much higher in Colorado than in the US at large: Coloradans pay $137 per month on health insurance, compared to the national average of $120.

Note: Health Insurance and Life Insurance expenses do not account for payments made by employers on behalf of employees. These just include out-of-pocket expenses. Also, the state and national bill totals take into account the percentage of households that pay a bill.

Average Colorado Household Bill Spending

Parker is the most expensive area for Colorado’s household bills

Residents of Parker pay the highest household bills in the state of Colorado, at an average of $3,031 per month. Erie comes in second in the rankings, with residents paying an average of $3,009 on household expenses. Monument is the third most expensive area in the state, with residents spending $2,845 on household bills.

Interestingly, residents who live in one of the 10 most expensive localities in Colorado generally spend a lower percentage of their household income on bills than Coloradans do on average. For example, Parker residents spend 30% of household income on bills, while Coloradans on average spend 37% on household expenses.

Access detailed infographics about each city or town by clicking on the hyperlinks in the “City” column in the tables below. You can also browse doxoINSIGHTS’ regional bill comparison database to see infographics about more than 4,200 cities and towns across all 50 states in the US.

10 Most Expensive Colorado Cities for Household Bills

*Household Bill Pay Expense averages shown above reflect the ten most common bills paid, including housing (rent/mortgage).

Montrose is the most affordable place in Colorado for household bills

Out of 48 cities and towns, Montrose is the most affordable place in Colorado, with residents paying $1,527 on average for household bills. Household bills account for 33% of local income in Montrose. In fact, most of the areas on the list below spend between 40 and 50% of their income on household bills; a markedly higher number than those on the “10 most expensive” list, which generally spend around 30% of their income on the bills.

Canon City comes in at the second most affordable town or city in Colorado, with residents paying $1,613 per month on average.

Also on the list of 10 least expensive cities in Colorado are Cortez ($1,617 per month), Sterling ($1,751 per month), and Delta ($1,758 per month).

10 Most Affordable Colorado Cities for Household Bills

Some individuals may be deciding whether to move from a more expensive city to a less expensive one. doxoINSIGHTS can be a valuable resource for consumers seeking to make key decisions like this, allowing them to compare Colorado’s household expenses against average bills in different cities and states across the country. They can also use doxoINSIGHTS’ regional bill comparison database to compare average costs for over 900 towns and cities across the country.