Colorado City, TX is a great place to live for people looking for an affordable housing option. The average rent for a two bedroom apartment is $740 compared to the national average of $1,430, making it a great budget-friendly choice. The cost of living in Colorado City is further reduced by the fact that its Grocery Cost Index is 89 versus the US average of 100.
The city offers plenty of things to do and see such as the Mitchell County Museum and Historical Site which displays artifacts and documents showcasing local history. It also has some amazing outdoor activities such as camping at Lake JB Thomas or horseback riding at Double K Ranch. For shopping there are many local stores and restaurants in downtown Colorado City including Country Rose Boutique & Gifts, Nana’s Kitchen & Bakery, and Emporium Western Wear.
Colorado City has an unemployment rate of 8.8%. The US average is 6.0%.
Colorado City has seen the job market decrease by -7.1% over the last year. Future job growth over the next ten years is predicted to be 2.5%, which is lower than the US average of 33.5%.
Tax Rates for Colorado City
- The Sales Tax Rate for Colorado City is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Colorado City is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Colorado City
- The average income of a Colorado City resident is $17,976 a year. The US average is $28,555 a year.
- The Median household income of a Colorado City resident is $43,550 a year. The US average is $69,021 a year.