When you think of living in Colorado, does the term “affordable” come to mind? Probably not, right? While many of Colorado’s markets are less-than-reasonable (more on that here), a national publication just named 2 of our largest cities as some of the most affordable places to live in the west:
"The Western United States is known for being expensive, and many of the major cities are anything but affordable," starts The Ascent's (a Motley Fool service) list of the 10 Best Cities for High Salaries and Low Cost of Living in the West, adding that "There are, however, plenty of exceptions," including Denver and Colorado Springs.
Based on the cost of living and median income data from several western cities, Denver is the 4th most affordable place to live in the west, thanks to an estimated income-to-expense ratio of 1.187 with an estimated cost of living of $72,176 and a median household income of $85,641.
Despite it being the 4th most affordable place to live in the west, The Ascent also acknowledges that the Mile High City is generally considered to be an expensive place to live, noting that it has a "cost of living index 14.5% higher than the national average, but it also has a median income 24.7% higher than the national median."
In addition to Denver, the "10 Best Cities for High Salaries and Low Cost of Living in the West" also named Colorado Springs as the 8th most affordable city, sharing the estimated income-to-expense ratio of 1.108 with an estimated cost of living of $65,557 and a median household income of $72,633.
Like Denver, the Springs are considered more expensive than neighboring cities; however - despite a cost of living that is 4% above the national average - the median income is 5.7% greater than the rest of the country.
In terms of the other most affordable cities in the west, The Ascent lists both Ogden and Provo, Utah (#1 and #2), Olympia, Washington (#7), and Boise, Idaho (#10, pictured).
