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Colorado is a dream destination for many, but housing prices can be a nightmare. The median home price in Colorado is a whopping $553,692, which is significantly higher than the national average of $358,734. But don’t despair! There are still affordable places to live in the beautiful Centennial State. Keep reading to find out the cheapest cities to live in Colorado.
Median Home Price: $161,329
Median Rent: $1,000
Cost of Living Index: 80.1 (less than average, U.S. average is 100)
If you are looking for an affordable place to call home in Colorado, La Junta should be on top of your list. With a low cost of living and a warm climate, this town provides a welcoming environment for residents.
La Junta is a small town in southeastern Colorado with a population of just over 7,000 and has many historic sites as well including Bent’s Old Fort National Historic Site and Koshare Indian Museum.
With excellent educational institutes like Otero Junior College, La Junta is a great option for those who want to raise a family and that too without breaking the bank.
Median Home Price: $174,054
Median Rent: $791
Cost of Living Index: 79.1 (less than average, U.S. average is 100)
Lamar, the largest city in southeastern Colorado, is also one of the most affordable places in the state. Lamar epitomizes the ideal rural family lifestyle, characterized by a charming small-town ambiance and a vibrant sense of community.
Lamar is the main hub for a large farming and ranching area. It’s known for its natural and historic attractions, including the Arkansas River, a historic downtown, and its spot on the Santa Fe Trail. Lamar is also one of Colorado’s top birdwatching spots, with over 400 bird species passing through each year.
Median Home Price: $245,816
Median Rent: $659
Cost of Living Index: 83.3 (less than average, U.S. average is 100)
Known as Queen City of the Plains, Sterling is a charming town in northeastern Colorado. The cost of living is reasonable, and residents enjoy a sense of community, outdoor recreation, and cultural events. For the residents of Southwest Nebraska and Northeast Colorado, Sterling serves as a major shopping point.
Median Home Price: $247,625
Median Rent: $673
Cost of Living Index: 83.4 (less than average, U.S. average is 100)
Located at the base of Rocky Mountains and the Purgatoire River, Trinidad is a historic town with a low cost of living. The town features Victorian architecture, a mild climate, and easy access to outdoor activities such as hiking and fishing. With cheap rent prices, which are 56% lower than the national average, Trinidad is an attractive choice for those looking to escape the high costs of living in larger Colorado cities.
Median Home Price: $286,721
Median Rent: $729
Cost of Living Index: 84.2 (less than average, U.S. average is 100)
Nestled in the northwestern part of the state, Craig is a small town surrounded by breathtaking natural landscapes. The cost of living is lower than the state average, and residents can enjoy outdoor activities like hiking, fishing, and skiing.
Criag also attracts hunters from all over the country and is hence known as “Elk Hunting Capital of the World.” With a median household income of $52,443, Craig is one of the cheapest places to live in Colorado.
Median Home Price: $290,493
Median Rent: $961
Cost of Living Index: 94.4 (less than average, U.S. average is 100)
Situated on the junction of the Arkansas River and Fountain Creek, Pueblo is a city that combines affordability with a rich cultural heritage. It’s also home to several colleges and universities including Colorado State University Pueblo and Pueblo Community College, making it a great option for young adults and families.
Pueblo is also called “Steel City” because it is one of the largest steel producing cities in the entire United States.
With a lower cost of housing compared to major metropolitan areas, Pueblo offers residents a variety of recreational opportunities, including parks, museums, and community events.
Median Home Price: $292,392
Median Rent: $770
Cost of Living Index: 82.1 (less than average, U.S. average is 100)
Situated in the San Luis Valley, Alamosa is a picturesque town known for its agricultural heritage and access to outdoor adventures. The cost of living is relatively low, and the town offers affordable housing options.
Alamosa is close to many sights and attractions, making it perfect for travelers and weekend visitors.
Alamosa is also home to numerous hotels and restaurants. Alamosa’s proximity to the Great Sand Dunes National Park and Preserve adds to its appeal for nature enthusiasts.
Median Home Price: $306,101
Median Rent: $1,100
Cost of Living Index: 83 (less than average, U.S. average is 100)
With a population of 5,339, Brush is another one of the most affordable places to live in Colorado. Brush is primarily an agricultural community where you will find several historic landmarks and antique-styled downtown buildings.
Other than affordable housing and low cost of living, Brush residents enjoy other perks as well including parks, community swimming pools, wildlife areas, golf courses, fishing, and more.
Median Home Price: $333,396
Median Rent: $1,250
Cost of Living Index: 84.9 (less than average, U.S. average is 100)
Also known as a popular tourist destination for sightseeing and whitewater rafting due to its location near Arkansas River, Cañon City is another cheap place in Colorado. Cañon City is also one of the few American cities to have the Spanish Ñ in its name.
Canon City has a Cost of Living score of 84.9, meaning it is 15% cheaper to live there compared to the U.S. average. This includes costs for housing, food, childcare, transportation, healthcare, taxes, and other necessities.
Median Home Price: $336,613
Median Rent: $980
Cost of Living Index: 85.1 (less than average, U.S. average is 100)
Built above the South Platte River, Fort Morgan is a city with a reasonable cost of living. The local economy of the city relies on agriculture and related industries, featuring a Cargill meat-packing plant.
Fort Morgan stands out with its entirely municipally owned and operated utilities—electric, natural gas, water, wastewater, and sanitation. This guarantees residents swift local service, affordable utility rates, and an abundance of employment opportunities compared to similar-sized cities.
Median Home Price: $394,699
Median Rent: $1,106
Cost of Living Index: 94.7 (less than average, U.S. average is 100)
Grand Junction wraps up our list of the most affordable places to live in Colorado. The city is home to Colorado Mesa University and Western Colorado Community College. The median household income here stands at $62,993.
With notable recreational places including Tabeguache and Kokopelli trails, Grand Junction offers a healthy and entertaining environment for families.
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