Single People Need to Make This Much to Afford Living in Colorado

While the cost of living in Colorado continues to rise, Coloradans need to make more money each year to keep up.

Colorado has the fifth highest housing prices. Due to the rapid change, many Coloradans have moved in with friends, family members, and strangers looking to save costs.

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Many single people would prefer to live on their own over having a roommate. The biggest question boils down to whether or not they can afford to do it.

Coloradans Need to Make More Than Average to Live Alone

The average salary in Colorado is $56,303. If you are an hourly worker that is $27 an hour. The average cost of housing in Colorado is more than the average salary.

The difference is not huge, but it shows we have a problem on our hands.

Go Banking Rates calculated how much money a single person would need to make to make ends meet. They have an average for all 50 states.

In Colorado, they believe that to live comfortably, a salaried employee would need to make $59,218 before taxes.

We crunched the numbers and an hourly full-time employee would need to make $28.67 per hour.

Cost Of Living Across Colorado

These numbers were determined by the cost of living across all of Colorado. It depends on where you live. Somebody living in Denver is going to be paying a lot more than somebody living in Laporte.

The numbers are continuing to rise at a rapid rate. Hopefully, companies and employers will see the cost of living rise and pay their employees fairly.