What is Cost of Living?
Cost of living is the monetary cost of maintaining a certain standard of living in a particular location. If you are considering moving to another city, this type of information can help you assess how much it will cost you to live there and decide whether to go through with your plans of relocating. The basic expenses included in determining the cost of living of a particular place are:
- Housing Prices for Renters or Homeowners
- Food and Groceries
- Transportation Expenses
2018 Cost of Living Index in Littleton, CO
The cost of living index indicates the percentage difference in the cost of living of two or more locations, with the value of the primary location set at 100. For example, if you are currently living in Boulder, CO and you would like to relocate to Littleton, the cost of living index for Boulder would be 100, while the figures for Littleton would be higher or lower than 100, depending on whether the expenses being compared to those of Denver’s cost more or less compared to those in Boulder.
Littleton is a suburb in Denver, Colorado located in Arapahoe County, and is listed in Niche’s best suburbs to live in Denver Area. If you are considering moving to Littleton, CO, it is best to take a look at the cost of living index in this area before you make your decision. The table below compares the cost of living in Littleton with the rest of the state of Colorado and the United States. Note that the primary location here is the United States, so all of the values under this column is set at 100, while the values under Littleton and Colorado will vary, depending on whether the cost of the basic commodities in these locations are higher or lower compared to the rest of the country.
Littleton, CO Cost of Living Index in 2018
|Cost of Living||118||108||100|
|Goods and Services||107||99||100|
Based on the information shown above, the overall cost of living in Littleton, CO is 118, which is 10% higher than the average in Colorado (108) and 18% higher compared to the national average (100). The overall amount consists of several factors with varying weights:
- Goods and Services (33%)
- Housing (30%)
- Groceries (13%)
- Utilities (10%)
- Transportation (9%)
- Healthcare (5%)
Housing Costs in Littleton, CO
Although home values in this suburb have gone up by 6.1% over the previous year and is predicted to rise by 5.3% in 2019, majority of residents in Littleton are homeowners (61%). The median home value in Littleton, Colorado is $439,100, with the median list price per square foot at $275. This is higher than the Denver-Aurora-Lakewood Metro average of $266. The median price of listed residential properties in Littleton is $479,900, while the median price of sold properties is $458,600.
The average monthly rent for a studio apartment in Littleton is $1,119, $1,359 for a 1-bedroom apartment, and $1,674 for a 2-bedroom apartment. The average size for a Littleton studio apartment is 556 square feet, 790 square feet for a 1-bedroom apartment, and 1,082 square feet for a 2-bedroom apartment.
Utility Costs in Littleton, CO
General utility costs in Littleton are lower by 6% compared to the national index. The average electricity rate for residential properties in Littleton is 11.05¢/kWh, 3.58% lower than the Colorado average rate of 11.46¢/kWh and 6.99% lower compared to the national average rate of 11.88¢/kWh. Residential electricity rates in the United States range from 8.37¢/kWh to 37.34¢/kWh. The average monthly cost of electric consumption in Littleton is $129.57, 21.9% lower than that on the national scale which is $165.96. Average monthly phone charges is $32.29, 12.6% higher than the national average of $28.68.
Average Cost of Food and Groceries in Littleton, CO
The average cost of food and groceries in Littleton are relatively lower than the national average by 2%. The average price of milk in this area is $1.72, 14.3% less than the national average of $2.01. Pizza costs less here, too, at $9.26 which is 6.3% less than the national average of $9.89. The average cost of fried chicken is $1.35, 3.6% less than the national average of $1.40.
Average Cost of Goods and Services in Littleton, CO
Goods and services in Littleton, CO cost a bit higher than the national average. For instance, a haircut here would cost $19.24, 19.6% higher than the national average which is $16.09. Movies also cost higher in this suburb, at an average cost of $12.42 which is 20.8% more than the national average of $10.28.
Tax Rates in Littleton, Colorado
The Colorado income tax and sales tax are also considered when assessing the cost of living in Littleton, CO. Sales tax rate in Colorado is 2.9%, while income tax rates range from 4.63% to 4.63%. For Littleton, the sales tax rate is 7.3% while the national average is 6.0%. The income tax rate, on the other hand, is 4.6% for Littleton and the same on the national level.
Transportation Expenses in Littleton, CO
The transportation index in Littleton is slightly higher than the city index by 2% and the national index by 6%. The average per gallon price of gasoline in Littleton is $2.25, 0.3% higher than the national average price of $2.24. Tire balancing in this suburb will cost you about $54.00, 16.7% more expensive compared to the national average of $46.29.
Healthcare Costs in Littleton, CO
Generally, seeing a doctor for a consultation would cost more in Littleton than in Denver by 2%, and by 5% compared to the national index. The average cost of a consultation with a general practitioner in Littleton is $131.22, 21.1% higher than the national average of $108.36. However, seeing an optometrist would cost $100.38, 1.7% less than the average in the whole of the US which is $102.16. Having a dental check up would cost around $91.02, 1.6% less than the national average of $92.53.
Moving to Littleton, Colorado
If you are planning to move to Littleton, CO, you will need to know how this relocation will affect your budget. The cost of living indices cited here, along with the average costs of basic expenses for residents, can provide you with And if you are considering buying a residential property in this wonderful suburb, the Joseph Realty Team can help you find the best Littleton CO homes for sale. Don’t hesitate to contact our team at (303) 587-5757 or send us an email at [email protected]. You may also fill out our contact form below and we will get back to you the soonest possible time.