10 Most Affordable Places To Live In Colorado

Across Colorado, there remain several locations where factors like the cost of housing, rent, food, healthcare and transportation are better than the state average, and sometimes, even better than the national average. Considering the average cost of living in Colorado, according to SoFi, is $63,781 per year, and ZipRecruiter puts the average salary in the state at $56,726 per year, this matters. The Bureau of Labor Statistics' last updated release places the 2023 national average consumer expenditure at $77,280 annually. So while Colorado's average expenditure is $5,315 versus the national average of $6,440, unless you earn the national average wage in the U.S. — the Social Security Administration put this at just over $69,846 in 2024 — the cost of living for an individual in the state could be financially challenging.

Using housing as one example of how much the American dream costs in Colorado, the median sale price of a house, according to Redfin, is $627,400 as of October 2025. By comparison, the national median average sales price for a home in the second quarter of 2025, according to the Federal Bank of St. Louis, is $410,800. Living within your means is one of those things that can help you make big money moves, with living somewhere affordable playing a big role.

According to BestPlaces, the total cost of housing in Cimarron Hills is around $4,350 per month for a family and $4,167 for an individual. That's 19.4% and 12.6% lower than the national average respectively. However, miscellaneous costs and basics like housing, food, transportation, and healthcare bring the overall cost of living in Cimarron Hills to 10.3% above the national average. That said, you shouldn't have to worry about having an upper class salary in Colorado since the cost of living is 8.5% lower than the state, which makes it more affordable than other Coloradan locations.

Niche puts the median value of homes in the area is $333,300, a price roughly 47% lower than the state median sales price of $627,400, and also lower than the national median sales price by $77,500. You're still winning if you're a renter in Cimarron Hills, where the median rent is $1,439. Assuming you earn the national average wage of $69,846, you would need to spend a maximum of $23,282 on rent to avoid spending more than a third of your income on housing. As per the Joint Center for Housing Studies of Harvard University, more than half the state's renters spend over 30% of their income on rent. At a median rent of $1,439 per month, your annual rental expense is $17,268, or around 25% of your annual income which is within the safe zone. 

Along with several parks and trails offering natural amenities in the Cañon City area, the economic benefits, as per Salary.com, become evident with a cost of living 14% below the state average. While fractionally higher food costs, as well as healthcare, energy, and transportation costs, run 9.8% higher than the national average, the cost of living for an individual is $2,539 per month, and for a family of four it's $5,591. Keep in mind that the Bureau of Labor Statistics estimates a consumer expenditure of an average $6,440 per month. So even though your energy or healthcare bills may be higher in Cañon City, by some standards, this city is more affordable than other cities in the state and the country.

According to MPA Magazine, the median price of a home in Cañon City is $300,000, with the median rent for a one-bedroom apartment coming in at $1,400 per month in one of two states with surprisingly high rent costs. According to Zumper, the median rent for a one-bedroom in the U.S. is $1,511 as of October 2025, while the median rent in Colorado is $1,775 as of November 2025. In other words, renters are winning in Cañon City if you compare state and national medians.

According to EnergySage, Pueblo's residents spend an average of $202 per month on electricity. That's lower than SoFi's listed state average of $296 per month. Numbeo found the cost of food in Pueblo — based on the recommended minimum per person as of June 2025 — is around $328 per month, while SoFi places the cost of non-restaurant related food and beverages at $4,922 per year in Pueblo. That's just over $410 per month, or a difference of $82 per month. That means living in Pueblo can save you an additional $984 per year, per person, where groceries are concerned, compared with more expensive cities in the state.

The median household income of Pueblo is $55,305, according to MPA. That's almost $15,000 lower than the Social Security Administration 2024 national average wage index of $69,846, but with the median rent for a one-bedroom apartment sitting at $1,000 per month, and a median home price of $283,136, affordability still shouldn't be an issue in this steel-producing city. According to Zumper, the median rent for a one-bedroom in Colorado is $1,775. That means Pueblo offers individual renters in the state an annual discount of $9,300. A study by the National Zoning Atlas found that, while 92% of residential zoned land allows single-family housing as a right, only 3% of residential zoned land allows four-unit, family-sized lots. The lack of housing supply is a key factor impacting overall affordability. Meanwhile, homebuyers in Pueblo save $344,264 on the Redfin median sales price estimate for the state of $627,400. 

According to Payscale, the overall cost of living in Green Mountain Falls is 2% lower than the national average. Where Green Mountain Falls really shines is utilities, where the cost is 23% lower than the national average. While Payscale data doesn't include specifics about the cost of natural gas or water, as per Natural Gas Local, the November 2024 rate for natural gas in Green Mountain Falls was 32.7% lower than the national average. According to Green Mountain Water and Sanitation District, the combined residential rate for 51,000 gallons of water and sewage per 1,000 gallons is $14.26 compared to the combined residential 2023 U.S. average provided by the Environmental Protection Agency of $15.21.

Niche puts the median value of a home in Green Mountain Falls at $369,000. With Redfin's state median set at $627,400 for October 2025, and the Federal Bank of St. Louis setting the U.S. median at $410,800, the cost of a home in Green Mountain Falls is competitive in both markets. The average rent in the U.S., as per RentCafe, is $1,743 per month compared to Green Mountain Falls' median rent of $1,618 per month.

As per Livingcost.org, the cost of living in Colorado Springs places it in the top 11% of expensive cities in the world, in a state with one of the highest median incomes. That said, it's also in Livingcost's top 4% of best places to live. According to the Council for Community and Economic Research (C2ER) via Extra Space Storage, the overall cost of living in Colorado Springs is 2.1% higher than the national average, with transportation and healthcare around 4% lower than the U.S. average, but housing a whopping 10.1% higher. The good news is that there are still more affordable areas of the city to live in, like Northeast Colorado Springs.

According to Spacewise, Northeast Colorado Springs has a median home price of $288,939. That's around 54% lower than the state median and $121,861 more affordable than the national median, making homes in Northeast Colorado Springs cheaper on all accounts. A median rent of $1,435 per month beats the state median of $1,546 per month and the national median, as per Zumper, of $1,511 as of October 2025. As an added bonus, Spacewise gives Northeast Colorado Springs a safety rating 73% higher than the rest of Colorado Springs. 

Much like other scenic Colorado locations gaining a reputation for high costs, the cost of living in Old Colorado City is rising. According to Payscale, the total cost of living in Colorado City is 3% higher than the national average, with housing coming in at 18% above the U.S. average. Comparing the cost of housing between Colorado City, and Old Colorado City, demonstrates how affordable options can be found within less affordable cities. With a median home price of $610,931, the cost of homeownership in Old Colorado City crests over the U.S. median by around $200,000. Meanwhile, as per Spacewise, Old Colorado City offers prospective home buyers a median home price of $278,959, comfortably besting the national median by over $100,000. The median rent in Old Colorado City is $1,126, beating the state median rent for a one bedroom, and the national median too.

Payscale also notes that Colorado City also offers a break when it comes to utilities and groceries, with costs that are 2% and 1% lower than the national average. If you lived in Old Colorado City, you could take advantage of more affordable housing, and cheaper food and electricity.

According to reAlpha, Trinidad, not the island, but the Coloradan city, offers a cost of living 18% lower than the national average. Just by virtue of that, you can already assume its cost of living is well below the state average as well. A median home price of $210,000 is almost half the U.S. median, and just over ⅓ the state median sale price of a home. As per Point2homes, the median gross rent in the city is $894. This is again, far lower than both the state and national averages.

According to BestPlaces, the cost of living for a single person in Trinidad is $2,533 per month, while for a family, the cost of living rises to $3,480 per month. Going back to The Bureau of Labor Statistics 2023 national average consumer expenditure of $6,440 per month, it becomes evident just how much more affordable Trinidad is in terms of not just the state, but also the U.S. in general.  

As per reAlpha, the median home price in Alamosa is $195,000, which would be considered a serious discount anywhere in the U.S. It likely has a lot to do with Alamose having a cost of living almost 20% lower than the U.S. average with a cost of living index of 80.6. Point2homes puts the median rent in Alamosa is $881 per month, more affordable than other popular places in Colorado like Denver, Aurora, and Colorado Springs.

According to BestPlaces, an individual living in Alamosa needs a monthly income of $2,500 to afford living there, while a family would require $4,260 per month to pay for all their needs. Aside from housing, as per the Economic Research Institute, your groceries and utilities will also come at a discounted rate with a total cost of living 20% lower than the state. Find Energy has the average electricity bill in Alamosa at $107.54 per month. Compared to the state average of, as per SoFi, $296 per month, it appears living in Alamosa can also save money on your energy bill. 

According to BestPlaces, the cost of living in Walsenburg for an individual is $2,600 per month. Surprisingly, it's not much more expensive for a family, at an extra cost of $340 per month for a total of $2,940. This helps bring the cost of living in Walsenburg down almost 35% from the state average, and makes it just over 21% higher than the U.S. average. Renting in Walsenburg is one way to avoid lifestyle creep as per Point2homes, with a median gross rent of $723 per month. With this data demonstrating how renters can also be winners, you may be tempted to believe this pattern wouldn't necessarily relate to owning a property. However, according to Redfin, the median sale price of a home in Walsenburg is $185,000, a far cry from the state average of $627,400, and the U.S. average roughly $200,000 lower than that.

According to AreaVibes, while the cost of goods and services, healthcare, and transportation are in line with the national average, groceries are 2% lower than the U.S. average and 3% lower than the state average. While the cost of utilities are 3% higher than the state average, they are still 6% lower than the national average, and are more than balanced out by housing 40% lower than the U.S. average, and 74% lower than the state average.