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Colorado continues to be a hotspot for new transplants looking for an affordable place to live. In 2018 the state gained nearly 240,000 new residents, with many coming from Texas or California.
Due to high demand, the real estate market and cost of living continues to increase at a pretty rapid but steady rate. This can make it difficult to find a cheap place to live in Colorado.
However, there are still some great cities where you can live affordably in Colorado. These are listed from lowest median home price to the highest while still showcasing what’s affordable.
Below are the cheapest places to live in Colorado that are in close proximity to the mountains and / or national forests.
One of the cheapest places to live in Colorado, based on median home price, is Trinidad.
It is located in southern Colorado near the border of New Mexico. With a population of only 8,200 residents, Trinidad is a friendly city that offers small town living.
The city has a lot of history leftover from the Civil War and coal mines nearby. In the past, Trinidad was known as the “sex change capital of the world” but now it’s more popular for being “Weed Town USA” due to over 30 dispensaries.
You won’t have to deal with traffic jams or rush hour, and there are plenty of hiking and biking trails. Plus, visit the Trinidad Lake State Park to enjoy fishing, boating or camping.
The views and nature near Trinidad are incredible!
Every time we travel to Texas to visit family, we pass through Trinidad and really enjoy this small mountain town.
Median home price: $134,233
Median rent price: $705
Moving north, about halfway between Colorado Springs and Trinidad is Pueblo. It’s well-known for authentic Mexican food and the farming culture.
The city is home to over 111,000 residents but is very family friendly with lots of outdoor activities thanks to Lake Pueblo State Park.
Every year the city hosts the annual Chile & Frijoles Festival and the Colorado State Fair, which are both local favorites.
Due to it’s southern location, the weather in Pueblo is much warmer in the summer and winter months compared to more northern Colorado cities.
If you’re looking for a warmer place to live in Colorado, Pueblo is a great choice.
Median home price: $195,578
Median rent price: $895
With a population of about 16,750 you may be surprised that Cañon City, Colorado made it on our list of the most affordable places to live.
But this small town is nestled right at the base of the Rocky Mountains and offers a wide variety of things to do. The city is safe, clean and inviting with great opportunities for jobs.
Plus, it’s proximity to Colorado Springs (45-minute drive) and Pueblo (30-minute drive) make it very appealing for families or retirees.
The Four Mile Ranch Golf Club is nearby as well as several well-kept city parks. Canon City is also home to the Royal Gorge Bridge which has been listed at Colorado’s #1 bucket list activity.
Median home price: $245,649
Median rent price: $748
Located near the western Colorado border is Grand Junction, which has a population of around 63,000 people. It is considered one of the safest cities to live in Colorado, beating out Denver and Pueblo.
Grand Junction is most well-known for the Colorado National Monument, which hosts one of the most scenic road cycling events in the United States.
The city runs along the Colorado River, making it a great place for kayaking, paddleboarding, camping, hiking, and other outdoor adventures for families.
If you’re into golfing, Golf Digest rated The Golf Club at Redlands Mesa in Grand Junction as one of best public golf courses in Colorado.
Median home price: $272,645
Median rent price: $785
Unsurprisingly, Colorado Springs is one the largest yet still affordable cities on our list. The greater metropolitan area is home to more than 738,000 people with more moving here everyday.
Located near the foot of the Front Range, the city boasts gorgeous mountain views, hiking trails, biking paths, and many well-maintained city parks.
Among other attractions, Colorado Springs is home to Garden of the Gods, which is a completely free getaway destination that locals and tourists alike enjoy.
Median home price: $339,146
Median rent price: $1,292
Greeley may not be one of the most popular cities in Colorado but it has a ton to offer. With over 107,000 residents the city is big enough for nice amenities but small enough so you can enjoy nature closeby.
The nightlife is booming, with live music venues, bars, restaurants and breweries. It is home to the local favorite, Weldwerks Brewing Company, which serves up award-winning beer.
Not only that, but Greeley was named #7 on the Best Affordable Places to Live in 2016 by Livability. This is mainly due to the reduced cost of living in nearly every category.
It is also the location of the University of Northern Colorado, which adds to the city’s excellent school system and education programs. Greeley is located north of Denver and northwest of Boulder.
Median home price: $328,950
Median rent price: $1,056
Our list gets more expensive as we move closer to the Denver area. Aurora, Colorado is considered a suburb of Denver but has a unique feel that’s all its own.
Nearly 375,000 people call this area home, making it one of the larger places on our list. There are plenty of parks, great restaurants, and a diverse array of things to do.
Check out the Aurora Reservoir for swimming, kayaking, fishing and even SCUBA diving excursions. Cherry Creek State Park is also nearby which offers loads of hiking, biking, and walking trails, as well as a marina.
When we first thought about moving to Colorado, we moved to Aurora for six months during the summer of 2013. We really enjoyed the vibe of the area, which is even more up-and-coming now.
Median home price: $372,630
Median rent price: $1,542
Just south of Fort Collins is Loveland. It is the 15th most populated city in Colorado with about 77,000 people. Most residents move here to be close to Boulder but don’t want to pay for the high cost of living.
Loveland has a very active community with young families and college students, due to its close proximity to Fort Collins. There are also a lot of job opportunities as the city has grown and expanded in recent years.
Some of the outdoor destinations in Loveland include the Pinewood Reservoir and the Cache La Poudre River and National Forest.
Median home price: $382,225
Median rent price: $1,419
Thanks to its proximity to Boulder, Longmont is a Colorado town that’s literally booming. It has nearly 100,000 residents with more moving here each month.
The city boasts gorgeous views of the Rocky Mountains and is a short drive away from the Boulder Reservoir and Union Reservoir. Hiking paths and biking trails are abundant thanks to many parks and outdoor spaces.
The Longmont Twin Peaks Golf Course and the Mile-Hi Skydiving Center are also popular spots that locals like for enjoying the outdoors.
Median home price: $417,957
Median rent price: $1,452
Last on our list is Durango, which is still an affordable place to live in Colorado, even if it’s not the cheapest. Located in southwestern Colorado near the New Mexico border, Durango’s population is just under 20,000 people.
Most notably the city is close to the famous Four Corners Monument where you can literally stand on the area where four different states meet.
It is also home to the Durango & Silverton Narrow Gauge Railroad which is a steam train that winds in and out of the mountains.
The city borders several Indian Reservations as well as the San Juan National Forest. And during the winter, Durango makes a popular getaway for hunting enthusiasts who enjoy exploring the great outdoors.
Median home price: $462,311
Median rent price: $1,355
* All median home prices are quoted from Zillow.com and median rent prices are quoted from RentJungle.com.
And check out our new book, Moving to Colorado: A Guide for What it Costs and Where to Live on the Front Range, which is available on Amazon.
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