The surge in the population has been observed in Colorado in the past few years due to its stunning mountain regions, culture, and climate. Colorado is famous worldwide for its hiking trails in mountain regions.

If you are fond of outdoor activities, then Colorado will be like paradise for you. Whether it is hiking, skiing, or mountain biking, there are plenty of activities that will keep you occupied in Colorado. 

The best thing is that most of the great places in Colorado are affordable or can be said to be budget-friendly. For our readers, we are mentioning here the 8 cheapest places to live in Colorado. You can choose accordingly that best suits your lifestyle.

1. Lamar

When you move to the east side of Colorado, you will see this small town, Lamar. It is one of the cheapest places to live in Colorado. The region is renowned for birdwatching, mainly during the migration of snow geese. When we compare the Cost of living in Lamar to the US average, it is 29.1 per cent lower. Also, it is 22.56 per cent lower than Colorado’s average.

• Population of the city – 7,656
• Median local home cost – $137,251
• Median income of household – $41,124
• Median rental price of apartment – $900

2. Pueblo

This place can be your priority if you are looking for a place to live in Colorado for cheap. Pueblo is located south of Colorado Springs. In the city, you will feel a blend of cultural history and modern amenities. You can explore the Historic Arkansas Riverwalk, Pueblo Weisbrod Aircraft Museum, the Sangre de Cristo Arts Center, or the Nature & Wildlife Discovery Center. 

• Population of the city – 111,900
• Median home cost – $262,950
• Median income of household – $42902

3. La Junta

As per the latest research, La Junta is the cheapest place to live in Colorado. It is a small town located in Southeast Colorado. This place is a perfect place to live for those who are fond of outdoor activities. In our list of best and cheapest places to live in Colorado, Lajunta secured the top spot. For outdoor activities, you can explore several parks and trails, go fishing, etc. The Cost of living in La Junta is 27.5 per cent lower than the U.S. average and 59 percent less than the state’s average.

• Population of La Junta – 7298
• Median local home cost – $129241
• Median income of household – $49654
• Median rental price of apartment – 850

It has the lowest Cost of living in Colorado.

4. Greeley

It is located in northern Colorado and emerges as affordable with a charming small-town feel. The Cost of living in Greeley is below the national average. The peculiar thing about this place is that it offers economic appeal without sacrificing quality of life. The city runs on a diverse economy, including agriculture and education. In Greeley, you can enjoy various cultural amenities, parks, and community events. With its friendly ambience and budget-friendly living Costs, it stands out as one of the cheapest places to live in Colorado.

5. Sterling

Sterling is one of the safest and most affordable places to live. With a low violent crime rate of 0.63 per 1,000 residents, this city prioritises community safety. As the largest community in the region, Sterling boasts a vibrant downtown adorned with a renowned public art show, drawing in both residents and tourists. With a median home value of $251,784 and the cost of living 19.2% lower than the U.S. average, Sterling stands out as a budget-friendly gem in Colorado.

6. Canon City

 The city is surrounded by protected terrains. Several outdoor activities are available in the town, like hiking, biking, fishing, rock climbing, off-road riding, and hunting. The Canon City is also known as “The Climate Capital of Colorado”. Despite being at a higher elevation, its temperature is 10 degrees warmer than the nearby towns. The living cost of Canon Town is 11.1 per cent lower than the U.S. average. Also, comparing the cost of living to other nearby cities in Colorado, it is 1.36 lower.

7. Trinidad

It is a small town located on the Colorado-New Mexico border in southern Colorado. Trinidad was once an important trading outpost on the Santa Fe Trail and has a rich history in Colorado. The town has a population of 8,335, and the median local home value is $198,936. The median household income is $40,746, and the median rental price for an apartment is $1,300. Trinidad has a cost of living that is 21.9% lower than the U.S. average and 20% lower than the Colorado average.

8. Monte Vista

Last, but not least, it is on our list of the best and cheapest places to live in Colorado. It is an affordable place rich in wildlife and nature. This place offers both locals and visitors to delve into nature’s beauty. Embracing its small-town charm and attractive surroundings, Monte Vista invites residents to savour the simplicity of life in a place where community spirit and affordability come together seamlessly.

Also Read : Top 10 Cheapest Places to Live in Florida 2024

Frequently Asked Questions (FAQs) :

Q. What city in Colorado has the lowest cost of living?

A. La Junta is a city in Colorado that has the lowest cost of living.

Q. Is Colorado a cheap state to live in?

A. It depends on the location you choose. The overall cost of living is moderate in Colorado. In some areas like Denver and Boulder the cost of living is expensive. At the same time, rural areas offer a low cost of living as compared to urban areas.

Q. What is the cost of living in Colorado?

A. Uncover Colorado, a report revealed that a single person can expect an average monthly living cost of $2,061 (equating to around $24,732 annually). A family of four can expect an average monthly living cost of $3,726 (equating to about $44,700 annually).

Q. What is the average price of a house in Colorado?

A. Is Colorado cheaper than California?

Ans. The Cost of Living in Colorado is cheaper when we compare it to California. So yes, Colorado is cheaper than California.

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