Last updated: July 28, 2026. | Fact-checked & Reviewed by the Cost Analysis Team
Methodology & Verification: This guide synthesizes official 2026 data from the U.S. Bureau of Economic Analysis (BEA), MIT Living Wage Calculator (updated Feb 2026), HUD Fair Market Rents, and the Denver Metro Association of Realtors. All financial thresholds reflect official baseline standards for Denver County.
The cost of living in Denver is above the U.S. average, with housing creating most of the difference. Current data suggests that a single adult needs about $55,384 a year before taxes to cover basic needs in Denver County. Rent, transportation, healthcare, family size, debt, and savings goals can push a comfortable budget much higher.
Quick Answer
The latest official price benchmark puts Denver metro costs about 5.8% above the national level, while rents are about 46.9% higher. MIT estimates that one adult needs $55,384 before taxes ($3,794 net monthly) for basic needs. A gross salary near $70,000 or more provides essential room for savings and discretionary spending.
Key Takeaways
- Denver metro’s latest overall price level is about 5.8% above the national benchmark, but housing rents are about 46.9% above it.
- MIT’s basic-needs estimate for one adult is $55,384 before taxes, or approximately $4,615 in gross monthly income.
- Revised FY 2026 HUD gross-rent benchmarks are $1,643 for an efficiency, $1,754 for one bedroom, and $2,089 for two bedrooms.
- Denver’s 2026 minimum wage is $19.29 per hour, which is below MIT’s estimated one-adult living wage of $26.63 per hour.
- Families may need substantially more, especially when paid childcare is required ($107,032+ gross required for 1 adult + 1 child).
How Expensive Is It to Live in Denver?
According to the latest Bureau of Economic Analysis Regional Price Parities, the Denver-Aurora-Centennial metro has an overall price index of about 105.8. An index of 100 represents the national price level, so Denver is approximately 5.8% more expensive overall.
Housing is the main reason Denver feels more expensive. The metro’s rent price index is approximately 146.9, meaning housing rents are about 46.9% above the national level. Goods are much closer to the national average.
Note: The latest BEA release was published in February 2026 but measures price levels from 2024. Use it to compare Denver with the nation, then use current rent and housing data for a move planned in 2026.
Denver’s overall price premium is moderate, but its housing-rent premium is substantial. Housing choice will have more effect on your budget than most everyday purchases.
One-Adult Monthly Budget
The MIT Living Wage Calculator, updated February 15, 2026, estimates the following basic expenses for one adult with no children in Denver County:
| Budget Category | Annual Estimate | Monthly Estimate |
|---|---|---|
| Food | $4,779 | $398 |
| Housing | $19,291 | $1,608 |
| Transportation | $7,116 | $593 |
| Medical | $3,199 | $267 |
| Internet and mobile service | $2,281 | $190 |
| Civic and social participation | $3,876 | $323 |
| Other necessities | $4,992 | $416 |
| Required income after taxes | $45,533 | $3,794 |
| Estimated taxes | $9,851 | $821 |
| Required income before taxes | $55,384 | $4,615 |
This is a basic-needs budget. It is not a luxury or upper-middle-class lifestyle, and it does not guarantee room for aggressive savings, frequent travel, major debt payments, or expensive hobbies.
Denver Housing Costs: Rent vs. Buy
Housing will usually be your largest Denver expense. Renting offers flexibility and lower upfront costs, while buying may provide long-term stability but adds mortgage interest, taxes, insurance, repairs, and possible HOA dues.
Denver Rent Costs
The revised FY 2026 HUD Fair Market Rents for the Denver-Aurora-Centennial area are:
| Unit Size | FY 2026 Gross-Rent Benchmark |
|---|---|
| Efficiency or studio | $1,643 |
| One bedroom | $1,754 |
| Two bedrooms | $2,089 |
| Three bedrooms | $2,734 |
HUD Fair Market Rent is an estimated 40th-percentile gross rent for a standard-quality unit. It generally includes rent plus tenant-paid utilities, but it is not a promise that every listing will be available at that price.
Denver Neighborhood Rent Variations
Rent varies significantly across the Denver metro area depending on proximity to Downtown, light rail access, and neighborhood amenities:
| Neighborhood / Submarket | Cost Tier | Est. 1BR Rent Range |
|---|---|---|
| LoDo / Cherry Creek / RiNo | Premium | $2,100 – $2,650 |
| Capitol Hill / Highlands / Baker | Mid-High | $1,700 – $2,100 |
| Wash Park / University / Hale | Moderate | $1,550 – $1,850 |
| Aurora / Lakewood / Arvada (Suburbs) | Accessible | $1,350 – $1,650 |
Actual rent varies by ZIP code, building age, parking, amenities, lease length, pet policy, and proximity to rail service. Compare several current listings in the same neighborhood before setting your budget.
Pro Tip: Compare the total move-in cost, not just advertised rent. Add parking, pet rent, utilities, renters insurance, application charges, deposits, and any monthly amenity fees.
Denver Home Prices
The Denver Metro Association of Realtors reported the following June 2026 median closed prices across the metro:
- Detached homes: $675,000
- Attached homes: $391,750
Those sale prices do not reveal the full monthly cost. Your payment will depend on the down payment, mortgage interest rate, loan term, property taxes, homeowners insurance, HOA dues, and repair needs.
Homeowners should also keep money available for maintenance. A newer condo may reduce exterior-maintenance responsibilities but add HOA costs, while an older detached house may require more direct spending on the roof, heating system, plumbing, windows, or foundation.
What Do Food, Utilities, and Transportation Cost?
Food
MIT estimates that one adult in Denver County needs about $4,779 a year, or $398 a month, for food. This is a basic grocery budget rather than a restaurant-heavy lifestyle.
Your actual spending may be higher if you buy specialty foods, use meal-delivery services, dine out frequently, or support more than one person. Cooking several meals at once, comparing unit prices, and planning around weekly promotions can help control costs.
Utilities
There is no single reliable utility bill for every Denver apartment or house. Costs depend on square footage, insulation, heating fuel, appliance efficiency, occupancy, weather, and which services the landlord includes.
According to the U.S. Energy Information Administration, Colorado’s average residential electricity price was 16.26 cents per kilowatt-hour in May 2026. At that rate, 600 kWh of use would equal about $98 in electricity charges before fixed fees and taxes.
Winter heating and summer cooling can make bills change from month to month. Ask for recent utility histories when possible, especially before renting a large or older unit.
Public Transit and Driving
Current Regional Transportation District fares include:
- Three-hour pass: $2.75
- Day pass: $5.50
- Airport day pass: $10
- Monthly pass: $88
Youth age 19 and younger and active-duty U.S. military personnel can ride RTD services free. Discount fares are available to qualifying riders.
MIT’s broader transportation estimate for one adult is approximately $593 per month. That category is not the same as an RTD pass. It reflects a general transportation budget that may include vehicle ownership, fuel, insurance, maintenance, registration, or other travel costs.
Living close to work or reliable transit may reduce transportation spending, but compare any savings with the higher rent that often comes with a central location.
How Much Does Healthcare Cost in Denver?
The MIT Living Wage Calculator assigns one adult in Denver County a medical budget of $3,199 per year, or approximately $267 per month.
Your actual cost can be much lower or higher depending on employer benefits, insurance premiums, deductibles, copayments, prescriptions, dental care, vision care, and ongoing conditions. A provider’s full cash price also may be very different from the negotiated price charged through an insurance network.
Warning: Do not build a healthcare budget around a single advertised visit price. Review the premium, deductible, out-of-pocket maximum, provider network, prescription coverage, and expected annual care together.
Using in-network providers, reviewing bills for errors, choosing generic prescriptions when medically appropriate, and using preventive services covered by your plan may reduce out-of-pocket expenses.
Denver Taxes and Minimum Wage
Denver’s local minimum wage increased to $19.29 per hour on January 1, 2026, according to the Denver Auditor’s Office.
A person earning $19.29 per hour for 40 hours a week and 52 weeks a year would make about $40,123 before taxes. That is approximately $15,261 below MIT’s one-adult basic-needs estimate of $55,384.
MIT’s corresponding living wage is $26.63 per hour for one adult without children. This comparison shows why a full-time minimum-wage worker may still need shared housing, lower transportation costs, assistance, overtime, or additional income.
Residents should also plan for federal income tax, Colorado state income tax, payroll tax, and local sales taxes. Specifically, Colorado levies a flat state income tax rate of 4.40%, while the total combined state and local sales tax in Denver sits at 8.81%. The exact tax burden paid depends on taxable income, filing status, deductions, credits, and spending habits, so the salary figures in this guide serve as gross-income planning benchmarks.
What Salary Do You Need to Live in Denver?
There is no official salary that guarantees a comfortable Denver lifestyle. The amount depends on whether you rent or own, your household size, debt, childcare needs, insurance, savings goals, and preferred neighborhood.
MIT’s current estimates provide a useful basic-needs floor:
| Household | Required Annual Income Before Taxes |
|---|---|
| One adult, no children | $55,384 |
| One adult, one child | $107,032 |
| Two adults, one working, two children | $93,302 |
| Two adults, both working, two children | $151,767 combined |
The large difference between the two-adult family scenarios is primarily connected to paid childcare. In MIT’s model, a nonworking adult can provide care, while a household with both adults working may face major childcare expenses.
Comfortable Salary for One Adult
For one adult without children, $55,384 is a basic-needs estimate. A planning target around $70,000 before taxes is more practical for someone who wants room for emergency savings, retirement contributions, occasional entertainment, and unexpected expenses.
The $70,000 figure is not an official threshold. It is a planning target that adds a margin above the MIT basic-needs floor. Someone with inexpensive shared housing may live comfortably on less, while a person with large debt payments or a premium apartment may need substantially more.
Is $120,000 a Good Salary in Denver?
For one adult, $120,000 is generally a strong Denver salary. It should provide room for housing, food, healthcare, transportation, savings, and discretionary spending when debt is manageable.
However, the same salary may feel tighter for a household paying for several children, full-time childcare, a large mortgage, private-school tuition, or major medical expenses. Household obligations matter more than the salary number alone.
Hidden and One-Time Costs to Include
A monthly budget does not capture every expense involved in moving to Denver. Plan for possible costs such as:
- Security deposits and the first month’s rent
- Application or screening charges
- Moving services, truck rental, fuel, or shipping
- Utility connection and account setup
- Parking permits, garage fees, or storage
- Renters or homeowners insurance
- Furniture, household supplies, and basic appliances
- Pet deposits, pet rent, and veterinary care
- Vehicle registration, winter maintenance, and tires
- Emergency repairs or temporary accommodation
Keeping a separate moving fund prevents these one-time costs from using money intended for normal monthly bills. For detailed checklist steps, review our guide to planning a seamless multi-state move.
How to Reduce Your Denver Living Costs
- Compare total housing costs: Include utilities, parking, insurance, pet charges, commuting, and amenity fees.
- Consider shared housing: Splitting a two-bedroom unit may reduce rent and utility costs per person.
- Test the commute: A cheaper apartment may not save money if it requires expensive daily driving.
- Use fare capping: RTD riders using eligible payment methods will not pay more than the applicable daily or monthly cap.
- Request utility history: Previous bills can reveal whether an older unit is expensive to heat or cool.
- Plan meals: A grocery list and batch cooking can keep food spending closer to the basic-needs benchmark.
- Review insurance yearly: Compare health, auto, renters, or homeowners policies before renewing. See our breakdown on reducing auto insurance rates in Colorado.
- Build an emergency fund: Denver housing and transportation costs make unexpected repairs especially disruptive.
Frequently Asked Questions
How much does it cost to live in Denver per month?
MIT estimates that one adult without children needs about $3,794 per month after taxes for basic expenses, requiring approximately $4,615 in gross monthly income. Your amount may be higher if you choose premium housing, carry debt, save aggressively, or dine out frequently.
What salary do you need to live comfortably in Denver, CO?
The current one-adult basic-needs estimate is $55,384 before taxes. A salary around $70,000 or more gives a single adult more room for savings, emergencies, and discretionary spending, although housing and debt can change the result.
How much is rent in Denver?
Revised FY 2026 HUD gross-rent benchmarks are $1,643 for an efficiency, $1,754 for one bedroom, and $2,089 for two bedrooms in the Denver-Aurora-Centennial area. Current asking rents can be higher or lower by neighborhood and building.
Is Denver more expensive than the national average?
Yes. The latest BEA metro price-parity data puts Denver-Aurora-Centennial about 5.8% above the national price level overall. Housing rents are the main pressure point at approximately 46.9% above the national benchmark.
What is Denver’s minimum wage in 2026?
Denver’s local minimum wage is $19.29 per hour in 2026. Full-time annual earnings at that rate are about $40,123 before taxes, below MIT’s $55,384 basic-needs estimate for one adult.
What food is Denver known for?
Denver is known for green chile, Mexican and Southwestern food, craft beer, local coffee, Rocky Mountain oysters, food trucks, and farm-to-table restaurants. Dining out regularly should be budgeted separately from a basic grocery allowance.
Is $120,000 a good salary in Denver?
Yes, $120,000 is generally a strong salary for one adult in Denver. Its comfort level decreases when a household has high childcare costs, major debt, expensive housing, or several dependents.
Conclusion
Denver is moderately more expensive than the nation overall, but housing can place significant pressure on a household budget. A single adult currently needs about $55,384 before taxes for basic needs, while a salary closer to $70,000 or more provides a more comfortable margin.
Before moving, compare the full cost of several housing options, including utilities, parking, insurance, transportation, and move-in charges. Families should pay particular attention to childcare, while prospective homeowners should calculate mortgage interest, taxes, insurance, HOA dues, and maintenance rather than relying on the purchase price alone.
Sources
- U.S. Bureau of Economic Analysis Regional Price Parities — Denver metro’s overall and housing-rent price levels.
- MIT Living Wage Calculator for Denver County — basic-needs income and household expense estimates.
- HUD Fair Market Rents — revised FY 2026 gross-rent benchmarks.
- Regional Transportation District Fares — current public-transit fares and discounts.
- Denver Metro Association of Realtors June 2026 Report — detached and attached median sale prices.
- Denver Auditor’s Office — Denver’s 2026 local minimum wage.
