Is Colorado a Good Place to Live in 2023?
Are you considering moving to Colorado, but you want to be sure if it’s a good decision? Hence your question, “is Colorado a good place to live?”
There are a number of factors to consider before deciding if Colorado is a good place for you to live. These include security, cost of living, foreigners’ hospitality, etc.
Is Colorado a Good Place to Live?
Based on the factors used, I can say that Colorado is still a good place averagely to live. It is not the best state in the US, but it can be okay for you based on what matters to you in deciding where to move.
What Makes Colorado a Good or Bad Place to Live?
Here are the factors we considered before coming to the conclusion that Colorado is still good on average to live in:
1. Cost of living
One of the most important things to consider when moving to any place is the cost of living there. You don’t want to live where you live from hand to mouth because the cost of living is crazy.
The cost of living in Colorado is about 4 percent higher than the national average cost of living. This indicates that Colorado is more costly to live in than some other states in the US.
Housing prices in Colorado are about 15 percent higher than the national average price. When it comes to utilities, it is about 11 percent lower than the national average.
This might be a red light, but one thing that compensates for this is the higher median income of Colorado. Colorado’s median income is $75,000 which is higher than the national average.
2. Security and crime rate
Nobody wants to live in the middle of a war zone, or in a place where one’s life is unsafe. Every other factor would not matter if safety is out of the window.
So, it’s one of the most important factors, if not the most important.
The property crime rate in Colorado is about 62 percent higher than the national average. The property crime rate in Colorado is 31.4 in 1000 people, whereas the national average is 19.3 in 1000 people. The violent crime rate in Colorado is about 4 percent higher than the national average.
Does this mean that Texas is unlivable at all? No. It just means the crime rate is higher than in other states. It doesn’t mean everyone in Texas is going to be a victim. If this seems to be huge for you, you can consider other states, like Tennessee.
The summer is always hot in Colorado, while the winter is mostly cold and snowy. The maximum temperature during the summer can go up to about 95 degrees Fahrenheit.
This is not unbearable, but you need to prepare ahead for the weather in Colorado.
This is another important factor to consider when considering moving to a new location. You don’t want to stay in a place where you and your family will not have access to basic amenities like education, health, good transportation, etc.
Colorado is ranked 23rd in healthcare costs. So, healthcare is not one of the most expensive among the states in the US. Colorado is ranked 15th in health accessibility, and 7th in the healthcare system.
Talking about education, education seems to be a little cheaper in Colorado than in other states in the US.
Tax is also another strong factor to consider, as tax can be high in some states in the United States. You might think that it won’t hurt that you pay a few tens or hundreds of dollars every month.
Colorado has a 2.9 percent state sales tax rate and a 4.4 percent income tax rate. Colorado is ranked 21st in the 2023 state business tax climate index. The property tax in Colorado is pretty low.
Tax doesn’t hurt, if it is worth it. I don’t think this should be a red flag for anyone. But it might also be a thing to consider when a state like Texas don’t take any state income tax.
6. Economy and employment opportunities
You definitely want to know how easy it can be to get good jobs in the place you are planning to move to, or how the economy of the place is.
Jobs are pretty easy to get in many parts of Colorado. The unemployment rate in Colorado is very low. The state’s economy is healthy and thriving well, too.
So, if you are looking to seek jobs in Colorado, it is not going to be a bad decision. The pay is higher than the national average, though the cost of living is higher than the national average.
You will need to consider all these factors, using your own level of priority to decide if Colorado can be a good place for you.
If you wonder if Colorado is a good place to live, you have gotten all the necessary information you need to decide if it is a good place for you.
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