Discover the Most Affordable Places to Live in Colorado
April 23, 2025
4 minutes
Are you considering moving to Colorado? Feeling daunted by the soaring housing costs as well? You're not the one, in this situation. The median home price in Colorado rose to about $574,000 in 2023 This marks a jump of close to 10 percent, from the year. But this blog will help you to find the most affordable places to live in Colorado.
Many areas in Colorado are experiencing rising home prices. But this blog will help you to find the most affordable places to live in Colorado.
Why Choose Colorado for Affordable Living?
Living in Colorado offers a unique blend of outdoor adventures and a vibrant cultural scene. The sudden rise in living costs has made finding an affordable home more challenging.
However, you can find the best towns to live in Colorado that have affordability with a quality lifestyle. These towns offer reasonable housing costs. They also provide one of the best natural beauty and amenities in Colorado.
Cost of Living in Colorado
It’s essential to comprehend the cost of living in Colorado before moving to Colorado. Here’s an overview of typical expenses:
- Housing Costs: The median home price in Colorado is around $574,000. Rental prices vary with place. One-bedroom apartments average $1,500 per month in many cities.
- Utilities: Monthly combined utility costs are approximately $200.
- Transportation: Public transportation is available throughout the state. The average monthly fares in cities like Denver and Colorado Springs are around $110.
- Groceries: Expect to spend about $400-600 monthly for a household of two.
These expenses can help you evaluate your budget before moving to the best places to live in CO.
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Top 5 Most Affordable Places to Live in Colorado
Now let’s explore some of the cheapest places to live in Colorado. Each place below is budget-friendly and also offers a unique lifestyle.
1. Pueblo
- Average Home Price: $260,000
- Cost of Living Index: 10% lower than the national average
- Highlights: Pueblo is known for its rich history and vibrant arts scene. It is one of the cheapest cities in Colorado to live in. The city is working to improve its downtown area and add new facilities for residents and visitors.
2. Colorado Springs
- Average Home Price: $497,000
- Cost of Living Index: Slightly above the national average. But housing remains comparatively affordable
- Highlights: Colorado Springs offers a mix of outdoor activities, beautiful parks, and a strong job market. It’s an excellent choice for those seeking urban amenities alongside nature.
3. Greeley
- Average Home Price: $415,000
- Cost of Living Index: 7% lower than the national average
- Highlights: Greeley is known for its local breweries and parks. It is a vibrant community that has become increasingly popular among young families.
4. Fort Collins
- Average Home Price: $481,000
- Cost of Living Index: Around the national average
- Highlights: Fort Collins is home to Colorado State University. The city offers a youthful vibe combined with excellent access to outdoor activities. It’s also known for its craft beer scene. All these things make it one of the best places to live in Colorado.
5. Loveland
- Average Home Price: $475,000
- Cost of Living Index: Slightly below the national average
- Highlights: Loveland is famous for its art community and outdoor activities. It's an ideal location for outdoor enthusiasts due to the Rocky Mountain National Park.
These towns are not just among the cheapest places to live in Colorado; they also offer vibrant communities and a range of amenities.
How to Choose the Right Place For You
You should consider the following factors before finalizing your shift:
- Proximity to work: Research job markets in the areas you’re considering.
- Education options: Look at schools if you have children or plan to in the future.
- Outdoor and recreational access: Ensure the town aligns with your lifestyle preferences.
Buying a Home? Get up to 1.5% Cash Back at Closing
Get pre-approval first, then start exploring homes knowing you can receive up to 1.5% of the home price back at closing.
Affordable Housing Programs in Colorado
Housing Assistance Resources
Colorado has various programs to assist first-time home buyers and low-income residents. These programs help the homebuyers find affordable housing:
- Colorado Housing Finance Authority (CHFA): CHFA provides financial assistance and loan programs to help residents secure affordable homes.
- Down Payment Assistance Programs: Many counties and cities in Colorado offer down payment assistance to first-time homebuyers.
Eligibility and Application
To leverage these resources:
- Visit the CHFA Website: Familiarize yourself with eligibility criteria and available programs.
- Reach Out to Local Housing Authorities: They often have information on local assistance programs and housing options.
You can benefit from these programs and ease your financial burden in Colorado.
Is Colorado a Good Place to Live?
Colorado remains a desirable destination to live. This is due to its rich outdoor culture, diverse communities, and varied landscapes. Here are some compelling reasons to consider living in Colorado:
- Outdoor Activities: You can enjoy skiing in the winter and hiking in the summer throughout the state.
- Strong Economy: Colorado’s economy is robust. The state offers great job opportunities across various industries.
- Community Engagement: The state is known for its engaged communities and vibrant cultural scenes.
Bottom Line: Ready to Move to Colorado - But Smarter?
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But even with the right home, buying can still feel overwhelming. That’s why reAlpha Mortgage. exists - not just as a mortgage broker, but as a community-first support system. You get expert help that feels like guidance, not sales pressure. Real answers. Smarter loan options. And people who actually listen.
- Commission-free home buying with reAlpha
- Personalized mortgage support from reAlpha Mortgage.
Because moving to Colorado shouldn’t just be affordable. It should feel empowering.
Start your journey with reAlpha - and walk it with reAlpha Mortgage.
If you're also trying to stretch your budget without compromising on safety, don’t miss our guide to the safest places to live in Colorado - because peace of mind shouldn’t come at a premium.
And if you're still weighing your options, wondering whether to rent or buy, you're not the only one asking that question right now. Our Rent vs. Buy comparison breaks down the pros, cons, and long-term trade-offs - so you can move forward with clarity, confidence, and a plan that fits your life.
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Article by
As a great communicator with excellent negotiation skills, I focus more on establishing unbreakable ties between my clients, as opposed to just helping them achieve their real estate dreams. As a representative of both buyers and sellers, I understand how to lead a transaction process to ensure that the needs of both are met. My track record speaks for itself. Since I ventured into the industry in 2013 as a realtor, I have not only helped many buyers land perfect homes, but I have also assisted tons of owners and investors build wealth.