Cost of Living In Denver, Colorado 2024 – UniAcco

Denver is the best place if you are looking for student accommodation where you can live in an affordable way and it is one of the most livable cities in America for students. There are plenty of things to do and see whether you like to go out on a Saturday night or you’d like to just stay in your accommodation and read a book. Another advantage for students is the cost of living in Denver which is very low compared to other major cities like New York and San Francisco. The reason for this is largely attributed to the fact that a majority of residents own their homes. The fact that there are a large number of homeowners means that rent prices are low. The fact that there are a large number of homeowners means that rent prices are low and the average cost of living in Denver is between $1,710 to $2,410.

If you are visiting the city, the best thing you can do is to meet the locals. However, if you have decided to make Denver your home, there are quite a few things that can help you to settle in well and make life easier for you. In this article, we are going to review the cost of living in Denver, Colorado along with the cost of education, accommodation, food, transportation and entertainment. 

Breakdown Of The Cost Of Living In Denver, Colorado

The average cost of living in Denver in terms of accommodation, transportation, food and entertainment varies based on the region and whether we consider long-term or short-term measures. As an international student, preparing a monthly budget of how much you might spend while living in Denver is a very important thing to do. This can help you save money and decrease your monthly expenses on unnecessary things. To make this easier we have curated Denver’s cost of living index per month for you below –

Cost Of Accommodation

Accommodation is a big part of your cost of living and it varies depending on what type of accommodation you want. On-campus accommodation is cheaper than off-campus accommodation, but if you want to live alone without sharing with anyone, the cost will be higher. In general, living in a dormitory will cost between $700 and $1,200 per month during the school year (September through June). For example, one student lives in an apartment with two other students for about $650 per month; a second student lives in an off-campus apartment which costs about $900 per month; and a third student shares an apartment with five other people and pays around $800 per month each. The most expensive option—living alone—will generally run between $1,200 – $2,000 or more. 

The cost of living in Denver is quite high because there are many amenities, which include restaurants and bars. If you want to live with your friends or family members then it will be very expensive. Denver’s average apartment rent for a one-bedroom apartment ranges between $1,100 – $1,500 per month while two bedrooms can go up to around $2,000 – $2,500 per month depending on the location and size of the unit. 

Cost Of Food

The cost of living in Denver is high, especially when it comes to food. This can be due to the city having many restaurants that serve American and international cuisine at a higher price point than other cities with lower costs of living like New York or Boston. The good news is that there are plenty of grocery stores and markets where you can find cheaper prices on your favourite foods.

The cost of food in Denver depends on the type of food you eat; it will be cheaper to make meals at home than to eat outside. In general, Colorado is pretty inexpensive compared to other states when it comes to groceries. The average price of a gallon of milk is $2.79 and a pound of ground beef is $4.29, which are both well below the national average prices for these items. The average monthly food expense for international students in Denver is approximately $200 – $327 per month.

Cost Of Transportation

Denver residents are lucky to live in a city where transportation is efficient and reliable. The current transportation system covers the entire city and is available 24 hours a day. It consists of three main components: Metro Rail, metro bus, and other forms of public transportation such as taxis and bike sharing. So, transportation costs are also affordable in Denver. A local student pays only $80 per month for their transportation whereas international students pay more than this amount which is something around $114 per month.

There are various other modes of transport that you can use while travelling to different places within the city or outside it like taxis, Uber or Lyft etc., but these modes of transport have very high rates as compared to any other form of travel such as subway or bus rides etc., so if you want to save some money on your trip then we would recommend using public modes rather than taxis because they are cheaper and much faster too! 

Cost Of Entertainment

The nightlife in Denver is very exciting and affordable. You can go to bars and restaurants, go shopping or watch a movie all at affordable prices. The average spending on fun activities by international students is approximately $100 – $150 per month. Entertainment options are also more expensive than in most other cities; movie tickets usually cost between $10 – $15 dollars at local theatres although movie prices vary greatly by individual locations so always check before buying!

The average cost of entertainment in Denver is $50.28 per month. International students spend an average of $63.62 a month on entertainment, local students spend $41.35 and on-campus residents spend $39.83 a month on entertainment, while off-campus residents spend an average of $51.79 each month on leisure activities like movies, concerts and restaurants.

Miscellaneous Expenses

• Insurance: Your car insurance is likely to be higher in Colorado than it was where you used to live, and this should also be taken into account when planning your finances.
• Medical Expenses: With the cost of healthcare rising every year, there’s no guarantee that you won’t need medical care while living in Denver. If you’re still covered under your parent’s health insurance through a grandfathered plan or COBRA coverage, consider how much more expensive it will be once those benefits end.
• Internet & Phone Bills: Internet service providers are notorious for charging higher rates than normal because they know nobody else has access nearby without paying extra fees upfront before signing up with them. The advantage that students have is the Wi-Fi at their university or Free-Wifi at their student accommodation. This helps students to opt for a cheaper plan.

FAQs

Q1. Is Denver Colorado expensive to live in?

Ans: The cost of living in Denver is 12% more expensive than the national average and 8% more expensive than the state average. While utilities are around 18% less expensive in Denver, CO, housing is 37% more expensive than it is nationwide.

Q2. How much money do you need to live comfortably in Denver?

Ans: A single person living in Denver should budget around $3,000 a month on average. This means that after taxes, the typical monthly income needed to live comfortably in Denver is $5,709.

Q3. What is the cheapest part of Denver to live in?

Ans: The five safest and most affordable areas for students in Denver are Congress Park, Gateway-Green Valley Ranch, Baker, LoDo and University.

Q4. Is Denver or NYC more expensive?

Ans: The cost of living index of NYC is 100, whereas, Denver’s cost of living index is 81.51. This shows that living expenses in Denver are 37% lower than NYC.

PS: If there’s anything more you’d like us to know about. Add it to the comments section!

Thank you for reading this blog on ‘Cost Of Living In Denver, Colorado 2023’. If you’d like to read more, here are some blogs that may be of interest to you –

• Cost Of Living in UK For International Students 2023 [Latest Info]
• Cost of Living in Aberdeen for Students [Updated 2023]
• Cost of Living in Perth for Students [Updated 2023]