Top 10 Cheapest Places To Live In Colorado (2023)

If you plan to move to Colorado, you’ll be greeted with excellent weather, beautiful mountain views, and many outdoor activities to enjoy. However, finding an affordable place to live can be a daunting task. Luckily, we’ve researched and compiled a list of the top ten cheapest places to live in Colorado in 2023. So, read on to discover which cities cut.

Cheapest Places To Live In Colorado

1. Lamar

Lamar is the most affordable city in the southeastern part of Colorado. This area is renowned for commercial farming, ranching, and agriculture. A small-town atmosphere and plentiful outdoor experiences make Lamar an ideal location for those who prefer a less hectic lifestyle. The city’s main attractions are the Arkansas River, the John Martin Reservoir, Bent’s Old Fort, and the Amache-Granada Japanese Relocation Center. With an average home price of around $144k, Lamar is an excellent place to find cost-effective housing and a laid-back lifestyle.

2. Walsenburg

Walsenburg, one of the oldest cities in Colorado, is affordable and boasts stunning views of the Spanish Peaks and the Sangre de Cristo Mountains. It is known for its historic homes priced at an average of 174k, making it the perfect place for home buyers interested in a fixer-upper. However, the rental market in Walsenburg is sparse, offering slim pickings for renters. Despite lacking big-city amenities, this small town is an ideal option for those seeking a classic frontier living experience.

3. Trinidad

Trinidad, situated near the New Mexico border, boasts of inexpensive home values and rental rates compared to other places in Colorado. This has led to an influx of Denver locals seeking affordable living options due to rising prices. The city has now become a haven for artistic souls and free spirits. With abundant outdoor activities, rich architectural history, and vibrant creative community, Trinidad offers a promising opportunity for those with a bohemian vibe.

4. Alamosa

Alamosa, located at the heart of the magnificent San Luis Valley, is a rapidly growing town that offers affordable living options. It is popularly known as the “Gateway to the Great Sand Dunes” and has a vibrant community of about 10,000 residents, including nature enthusiasts, students, and local entrepreneurs. The city boasts several local natural attractions, such as the Valley View Hot Springs, the Blanca Wildlife Habitat Area, the Great Sand Dunes National Park, and the Rio Grande River Walk, which its residents highly cherish. The cost of owning a home in this area averages around $293k, while the monthly rent for a 1-bedroom apartment is roughly $850, making Alamosa a great place to live for those seeking affordable living options.

5. Craig

Craig, situated in the north-central region of Colorado, is a budget-friendly option for those searching for an affordable place to live. Known for its friendly community, this town is perfect for retirees who desire a more relaxed lifestyle. It is also famous for being the “Elk Hunting Capital of the World,” drawing hunting enthusiasts nationwide. Although the coal industry drives the local economy, job opportunities are scarce. Nevertheless, the low cost of living and the highly affordable housing market make Craig an ideal place to find a beautiful mountain retreat.

6. Clifton

Nestled in the heart of Colorado’s wine country, Clifton is a charming suburb of Grand Junction known for its affordability. Situated near the state’s western border, the area boasts breathtaking landscapes attracting outdoor enthusiasts. The moderate climate of Clifton provides an ideal environment for growing various fruits, making it a prime location for wineries, vineyards, and orchards. With housing prices significantly lower than the state average, Clifton is the perfect destination to unwind with a glass of wine while taking in the stunning views of Colorado’s majestic mountains.

7. Pueblo

Pueblo, Colorado, is not only affordable but also full of life. Located about 1.5 hours away from Denver, Colorado’s ninth-largest city sits along the Arkansas River. It is famously known as the “Steel City” because its steel manufacturing industry contributes significantly to its economy. Pueblo is also recognized for its fertile agriculture and extensive outdoor activities. With a flourishing artistic community, favourable weather, a low cost of living, and ample outdoor recreation opportunities, Pueblo is an excellent choice for young professionals and families alike.

8. Cortez

Cortez is one of the most affordable places to live in Colorado, and it’s no secret why. This town, located in the state’s southwestern region, is a favourite among outdoor enthusiasts. Although the population is just under 10,000 people, there is no shortage of fun things to do in Cortez. The town has several outdoor attractions, including the Four Corners Monument, Mesa Verde National Park, Ute National Park, and the Ancients National Monument. Cortez is also a significant archaeological centre, with the Hawkins Preserve being one of its most prominent historical sites. Moreover, the local home prices in Cortez are well below the state average, making it an ideal place to find affordable housing and enjoy outdoor adventures.

9. Cañon City

Nestled alongside the Arkansas River, Cañon City is one of the most affordable cities in Colorado for sightseeing. Its bountiful outdoor activities make it a top pick for tourists, offering everything from whitewater rafting to rock climbing. Cañon City is also renowned for its wildlife and public parks, with Skyline Drive and The Royal Gorge Bridge & Park being the primary attractions. The good news for residents is that they can indulge in various activities, such as hunting, fishing, boating, golfing, bicycling, swimming, and horseback riding, right within the city limits. Although home prices and rental rates in this area are relatively higher than other places on this list, they remain well below the state average, making Cañon City an affordable and accessible destination in Colorado.

10. Fort Morgan

Fort Morgan, situated in the eastern plains of Colorado, is a perfect getaway destination from the hustle and bustle of daily life, and it won’t break the bank. This city offers numerous parks, green spaces, and a delightful downtown area boasting a vibrant music scene. The residents of Fort Morgan can take pride in the city’s rich agricultural history while enjoying local attractions such as the Rainbow Arch Bridge and the Center for Arts and Enrichment. Although rents in this area may be slightly higher, Fort Morgan is still affordable for those wishing to relocate to Colorado.

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