Denver, CO

What’s a Good Salary to Live Happily in Denver, CO

Riley Blue

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Your earning will significantly influence your decision to choose a place to live. So if you want to live in Denver, Co, how much should you get to have a comfortable life there?

The Cost of Living in Denver

Denver has a COL (Cost of Living) in the overall index at 128.7. This is for a homeowner with no child care. Denver is a fairly affordable place to live but not good enough to be among the 50 largest cities to live in.

With a reasonably affordable price and a $100K earning, you could fare enough to live in Denver with a meager income leftover. But what about taking on a five digits number? How far could you get to live with that means?

In Denver County, the median household income was $68,592, according to the United States Census Bureau in 2015 - 2019. But to live comfortably, these are the monthly costs for two adults and two children.

  • Housing - $1,298
  • Food - $810
  • Child Care - $ 1,583
  • Transportation - $ 1,095
  • Health Care - $ 966
  • Other Necessities - $ 850
  • Taxes - $1,100

Monthly Total - $ 7,702

Annual Total - $ 92,426

And therefore the monthly earning should be at $7,702 minimum. Thus, for income sufficiency, you need to make more than this amount to provide savings.

Ways to Increase Annual Income

If you belong to a family with two adults and two children and belong to the median earners, you can make ends meet by doing some ways to increase your annual income, Forbes.com says.

  • Use your existing employee benefits like a dependent care FSA and healthcare FSA.
  • Help other companies, make money on your experience and expertise
  • Adjust your withholdings
  • Sell your snaps - license and sell your strongest photos
  • Start a side hustle
  • Be creative - cut on expenses
  • Add a new skill and earn extra money

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