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Friday, May. 1, 2026

Is Colorado’s cost of living higher than the national average?

Cassis Tingley, The Colorado Sun
yes

The minimum income that Colorado residents need to afford basic necessities is among the highest in the nation. 

Colorado’s living hourly wage was $26 an hour for a single person with no kids in early 2026, and $65.47 for a single person with two kids, the MIT Living Wage Calculator shows. Those figures rank 10th and 8th in the country, respectively. The state minimum wage is $15.16.

Minimum living wages are calculated based on the cost of essentials including housing, medical care, childcare and food.  

The median rent in the U.S. was $1,487 per month in 2024, the most recent year for which U.S. census data was available. Colorado’s median rent at that time was $1,491 excluding Denver, where the median rent was $1,750. 

Hawaii and Massachusetts were the states with the highest minimum living wage. Arkansas and West Virginia had the lowest. 

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