You’ll Need Nearly $130K to Live Comfortably in Denver
A new report confirms what most Coloradans already feel in their wallets — life in Denver isn’t cheap. According to a recent study by GOBankingRates, the Mile High City ranks as the 12th most expensive large city in the U.S. when it comes to living comfortably.
The study analyzed the 50 largest U.S. cities using housing prices, cost of living, and income data. Applying the popular 50/30/20 budgeting rule — which allocates 50% of income to necessities, 30% to discretionary spending, and 20% to savings — researchers determined that Denver residents need a salary of $129,528 per year to live comfortably.
By comparison, the salary needed just for necessities in Denver is about $64,764, while the average home price sits at $589,059. The city’s cost of living puts it in the same league as Portland, Miami, and Austin — all known for rapid urban growth and housing pressures.
Further south, Colorado Springs came in at No. 20, requiring a salary of $108,462 to live comfortably, with an average home value of $463,169.
The study found that 26 of the top 50 cities now require six-figure salaries to live comfortably, with California cities dominating the top three: San Jose, San Francisco, and San Diego — each requiring more than $200,000 annually.
For perspective, the most affordable major cities in the U.S. were Detroit, Michigan ($65,733) and Memphis, Tennessee ($66,177) — roughly half of Denver’s comfortable living threshold.
GOBankingRates also ranked Denver 12th in another report for the salary needed to achieve the “American Dream,”pegging it at $159,036, while Colorado Springs landed 21st at $134,277.
In short — if you’re planning to “live comfortably” in Denver, you’ll need more than mountain views and a good attitude. You’ll need a six-figure paycheck.
