Aurora, Colorado, is home to a vibrant and diverse community that welcomes people from around the country and provides a welcoming environment for residents with more opportunities. However, with its offer come potential expenses one must be ready for when planning to move here.
Navigating the cost of living in Aurora, Colorado, can be overwhelming for some. It mainly requires a clear understanding of various economic factors, from housing to daily expenses like groceries and utilities.
As you gain knowledge of the estimated cost you will need in Colorado, you can plan your budget and avoid any financial problems in the future.
Understanding these expenses is crucial to gaining insights into the estimated cost you will need in Aurora and the economic implications of living in the charming area of Colorado.
Housing Costs in Aurora, Colorado
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Housing is one of the most significant contributors to the cost of living in Aurora, Colorado. In the first quarter of 2024, home prices in Aurora, CO, increased compared to those listed last year (2023).
It indicates that the Aurora housing market remains competitive. There is robust demand for residential property, and properties sell quickly, with some houses selling above the listed price.
In April 2024, home prices in Aurora, CO, increased by approximately 5.3% compared to the previous year. The median list price of homes was $485,000, while the average cost was $494,348. In June 2024, 492 homes were sold in Aurora, ranging from $112,000 to $1,208,500.
Renting vs. Buying
Rentals are another option for those looking for a new home in Aurora, Colorado, with greater flexibility, especially if they are still determining their long-term plans.
As of June 2024, Aurora’s median rent rate is $1,950, a 3% increase from the previous year and -7% lower than the national average.
Below is a breakdown of the average rent for apartments and condos in Aurora, Colorado, based on bedroom count.
| Bedroom Count | Average Rate |
|---|---|
| 1 Bedroom | $1,456 monthly |
| 2 Bedroom | $1,941 monthly |
| 3 Bedroom | $2,636 monthly |
| 4 Bedroom | $3,125 monthly |
| Studio | $1,524 monthly |
Transportation Cost
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Aurora, CO’s transportation cost index is 121.6, higher than the national average. The Regional Transportation District (RTD) provides bus and rail transit services throughout Aurora. This efficient access to public transportation makes the average commute in Aurora 29.3 minutes.
Below is information for RTD’s current fares:
| Type | Regular | Discount |
|---|---|---|
| 3-Hour Pass | $2.75 | $1.35 |
| Day Pass | $5.50 | $2.70 |
| Airport Day Pass | $10.00 | No additional charge |
| Monthly Pass | $88.00 | $27 |
Having a car, a bicycle, and walking are other ways to travel that allow people to explore and enjoy the municipality of Aurora. The city has created bike lanes on main roads and sidewalks to make cycling and walking safer for everyone.
As of June 2024, the average price of gasoline is $3.40 per gallon.
Grocery Cost
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Aurora, CO, offers countless dining options and groceries with various items and authentic foods to add to your table whether you eat at home or dine out.
The municipality has a cost index of 99.3 for groceries, slightly lower than the national average.
Here’s a helpful breakdown of the approximate costs for dining and grocery items in Aurora, CO.
| Grocery Products / Type of Dining | Average Cost |
|---|---|
| Dinner in a Mid-Range Restaurant | $60 |
| Fast food Restaurants | $12.75 |
| Bakery Products | $2.63 |
| Dairy Products | $3.99 |
| A dozen of eggs | $2.80 |
| Fresh Prepared Foods | $2.50 |
| Fruits and Vegetables | $2 |
| Meat and Seafood | $8 |
| Beverages | $3.85 - $20 |
Healthcare Cost
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Medical care is another important factor contributing to the cost of living in Aurora, Colorado. The health cost index of Aurora is 85.3, which is lower than the national average of the U.S.A.
Here are the expected healthcare expenses in Aurora, CO:
| Health Care | Average Cost |
|---|---|
| Doctor’s Visit | $123.91 |
| Dentist Visit | $106.91 |
| Optometrist Visit | $116.72 |
| Rx Drug | $456.55 |
| Veterinarian Visit | $64.34 |
Utilities and Other Essentials
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The utility cost index in Aurora, CO, is 96.1%, lower than the national average. According to Zerodown, singles will likely spend $2,750 annually on utility bills, while families with children will pay about $4,587.
Aurora’s essential utilities include electricity, water, and cable/internet. Below is the breakdown of Aurora, Colorado’s expected average monthly utility bill.
| Utility | Average Bill |
|---|---|
| Electricity | $153.48 |
| Gas | $3.40 |
| Cable & Internet | $45 |
| Phone Bill | $43 |
| Water | $39 |
| Sewer | $25.03 |
Recreation and Entertainment
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Aurora has a lot to keep you busy all year round. You can keep your mind active, stay fit, and enjoy everything life offers. You can play sports, hike on trails, swim in a beautiful lake, or relax on the beach for free or for around $10-$15 at minimum.
You can play golf on a lovely green course. You can watch a play at a famous theater for about $13. You can learn new things, look at public art or a museum for free, and go shopping or eat different types of food at many unique restaurants.
Employment and Income
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As of April 2024, Aurora, Colorado, has a workforce of 1,724,718 people. The unemployment rate is 3.4%, while approximately 1,664,582 people have jobs.
Wondering how much is the minimum wage in Aurora, Colorado? Starting January 1, 2024, Colorado’s minimum wage will be $14.42 per hour or $11.40 per hour for workers who receive tips. It is an increase of $0.77 from the previous rate.
Aurora follows the statewide minimum wage rates, so workers in Aurora will earn at least $14.42 per hour or $11.40 per hour with tips.
The median household income in Aurora is $72,052, 10% less than the state’s average. To fully enjoy what Aurora, CO, offers, individuals are expected to reach this middle income of $38,594, 9% less than the state’s average.
A helpful guideline for affordable housing is the 28% rule: your monthly rent or the total of your monthly mortgage, property taxes, and insurance should not be more than 28% of your gross income (income before taxes).
Cost of Living Comparison
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Aurora and Denver
When comparing the cost of living between Aurora and Denver, Aurora is a more affordable option overall. Aurora is 3.9% cheaper than Denver in general expenses. Particularly notable is housing, where Aurora’s costs are 34% lower than Denver’s.
Utilities show a slight difference between the two cities, nearly identical at 96.10 in Aurora and 96.20% in Denver. However, transportation and miscellaneous costs are higher in Aurora.
Overall, choosing Aurora over Denver can lead to significant savings, particularly in housing costs, making it a more economical choice for those looking for a place to live.
| Cost of Living Category | Aurora, CO | Denver, CO | Difference |
|---|---|---|---|
| Overall Index | 123.7 | 127.6 | 3.9% lower |
| Housing | 149.1 | 183.1 | 34% lower |
| Average Home Value | $494,348 | $576,355 | $82,007 higher |
| Food & Groceries | 99.3 | 101.9 | 2.6% lower |
| Utilities | 96.10 | 96.20 | - |
| Transportation | 121.6 | 116.1 | 5% higher |
| Health | 85.3 | 83.9 | 2% higher |
| Miscellaneous | 153.4 | 152.2 | 1% higher |
Aurora and Colorado
Aurora is generally more expensive than Colorado overall. This means that the cost of living in Aurora is higher than the average across Colorado.
It typically requires more money to cover basic living expenses than living in other parts of Colorado.
| Cost of Living Category | Aurora, CO | Colorado | Difference |
|---|---|---|---|
| Overall Index | 123.7 | 120.5 | 3.2% higher |
| Housing | 149.1 | 167.5 | 18.4% lower |
| Average Home Value | $494,348 | $552,622 | $58,274 higher |
| Food & Groceries | 99.3 | 100.7 | 1.4% lower |
| Utilities | 96.10 | 98.4 | - |
| Transportation | 121.6 | 106.7 | 5% higher |
| Health | 85.3 | 83.8 | 2% higher |
| Miscellaneous | 153.4 | 120.4 | 1% higher |
Note: This image may include elements generated by artificial intelligence (AI).
Wrap Up
Having an idea of Aurora, Colorado’s cost of living will help you understand the economy in Aurora and nearby cities and carefully plan your expenses for a financially comfortable and sustainable lifestyle.
If you have any questions or need assistance navigating the cost of living in Aurora, CO., do not hesitate to contact me; I will gladly help you with your inquiries.
Call us at 702-506-5006 or send a message to leahceller@gmail.com.
Frequently Asked Questions
What is the average rent for a two-bedroom apartment in Aurora?
The average rental cost for a two-bedroom apartment in Aurora, Colorado, is approximately $1,941 monthly.
How much does a monthly public transportation pass cost in Aurora?
A monthly public transportation pass in Aurora typically costs $88.00 for regular fare and $27 for discounted fare.
What is the median home price in Aurora, Colorado?
The median home price in Aurora, Colorado, is $485,000.
How much do groceries cost for a family of four in Aurora?
Groceries cost approximately $12,100 monthly for a family of four in Aurora.
What are the average monthly utility costs in Aurora?
The average monthly utility costs in Aurora include several essentials. Electricity costs an average of $153.48, while gas costs around $3.40.
Cable and internet services cost an average of $45 per month, and phone bills amount to about $43. Water services cost an average of $39, with sewer costs about $25.03.
