Utilities, such as water, air conditioning, heating, and electricity, will cost an average of $165.12 a month in Colorado Springs, which is roughly 0.9 percent less than the national average.
In Colorado, how much do utilities cost each month?
According to a survey of utility bills by state, Colorado’s average monthly utility cost is $241, which places it in the middle of the pack.
It isn’t the most costly state for utility costs, but it isn’t the least expensive either.
According to EnergyStar.gov, the average utility cost for a family in the United States is $171.66 a year, or $2,060 annually.
This means Colorado’s utility expenditures are $70 per month higher than the national average. There are a number of reasons why these costs are higher, as well as ways to reduce them.
No central air conditioning
When you move to Colorado, you may be surprised to learn that many homes lack central air conditioning.
As a native Texan, I was taken aback by this. However, after spending my first year in the state, I immediately understood that air conditioning is rarely required.
At reality, we don’t have central air conditioning in our home in Colorado Springs (as is the same with many homes in our neighborhood). We’ve never needed it, to be honest.
Furthermore, many small companies and stores lack central air conditioning.
Colorado is a state that loves to keep it’s doors open to nature and to decrease the amount of noise caused by central air conditioning equipment.
Low cost of natural gas
Colorado is the sixth-largest natural gas-producing state in the country, and it ranks among the top five.
This makes it simple for Colorado people to use the natural gas they produce, lowering the exorbitant cost of out-of-state transportation and distribution.
However, with the economy still reeling from 2020 and a probable shortage looming, natural gas (and water!) costs have soared.
Many residences feature gas cooktops and a furnace to keep the house warm in the winter instead of standard electric stoves and central heating.
In fact, natural gas is used as the principal source of home heating in 7 out of 10 houses in the state.
Renewable energy sources
In Colorado, many individuals and businesses are increasing their usage of renewable energy sources.
This could entail having solar panels installed throughout your home or running a business entirely on wind energy (there are approximately 2,000 wind turbines in the state!).
Colorado is the nation’s leader in renewable energy, with our sources having more than doubled since 2010.
How much do utilities in Colorado Springs cost per month?
It’s crucial to know how much utilities cost in a given location, especially if you’re attempting to stay to a budget. When a community’s cost of living is higher than the national average, keeping utility prices down becomes a concern. Colorado Springs has developed into a hot real estate market, with prices much exceeding the national average. The cost of utilities is included in these pricing.
Colorado Springs is one of the hottest real estate markets in the country, according to the Gazette. Colorado Springs, which is ranked 12th in the country for home sales speed, is seeing double-digit price rises and bidding wars in some neighborhoods. While this is fantastic for house sellers, many people are finding the expense of living in Colorado Springs to be prohibitive. According to research, Colorado Springs’ rent is about ten percent higher than the national average, with a small two-bedroom apartment costing around $1100 per month and a median home price of over 260K.
Colorado Springs’ utility costs are higher than the national average. For a 900 square foot apartment, utilities (including gas, electric, water, and garbage) average roughly $176 per month. When you consider that the average single family house in Colorado Springs is over 2500 square feet, it’s easy to see how utility expenses can quickly become overwhelming. Utilities can also vary dramatically depending on the season. Gas and electric bills can skyrocket during a harsh winter, compared to the calmer summer and autumn months. Your electric and gas expenses may grow considerably more than the average if your home has an old furnace that is working too hard, drafty windows, or insufficient insulation.
When all of these figures are added up, it becomes clear that most people in Colorado Springs, whether they rent or own their house, are living on the edge. In Colorado Springs, the median household income is roughly $54,000 per year. Rent and utilities would take up about a third of this salary, leaving little money for food, transportation, child care, and other necessities.
How much does a typical water bill in Colorado Springs cost?
The overall budget of Colorado Springs Utilities is approaching a billion dollars, and while there will be no major changes to electricity or natural gas prices, you should expect to pay more for water and wastewater.
The Colorado Springs City Council approved CSU’s $954.4 million budget for 2020 on Tuesday. Utility rates were also authorized on Tuesday, and they will go into effect on January 1.
The average residential water bill is increasing by around 7.5 percent, or about $5, according to CSU. Residential rate changes on a typical bill increased from $69.71 per month to $74.93 per month, according to a chart handed to the media and city council on Tuesday. The price of wastewater has increased marginally, from $32.89 to $33.38.
In Colorado, how much do utilities generally cost?
Colorado citizens use far less energy than the national average, according to a 2017 data from the US Energy Information Administration (EIA). As a result, the average monthly bill in Colorado is $82.47, which is $29.20 less than the national average of $111.67. Hawaii has the highest monthly bill in the United States, at $149.33. Colorado’s low gas prices are partly to blame for the gap.
What is the average cost of electricity in Colorado?
Data on Colorado Customers’ Bills The average electric bill for Xcel Energy residential customers in Colorado is $78.92. According to the 2021 Average Electric Bill pricing statistics from the US Energy Information Administration (EIA) opens in a new window, the national average electric bill is $122.48.
Why is Colorado Springs Utilities so high?
The interim rate hikes were issued by Colorado Springs Utilities in response to a global increase in natural gas demand this winter. The city-owned utility informed consumers in November that their natural gas and electricity bills will increase by over 27% and 13.5 percent, respectively.
How much does it cost to heat a home in Colorado?
Coloradans use an average of 706 kilowatt hours per month in their homes, according to the US Energy Information Administration. This is significantly lower than the national average. That implies the average household electric bill in Denver is roughly $78.01 a month.
What services are available in Colorado Springs?
We serve the Pikes Peak region with electricity, natural gas, water, and wastewater, and our customers enjoy low prices, outstanding personal service, environmentally responsible practices, and a say in how their utility runs.
In Colorado Springs, what does a good income look like?
Anything above $41,000 is considered an excellent salary in Colorado Springs, CO. This is because the median income in Colorado Springs is $41,000, which implies that if you earn more than that, you earn more than half of the individuals in the city. In Colorado Springs, the average wage is $47,359.
In Colorado Springs, a respectable hourly income is $19.71 per hour. This equates to a good weekly income of $788 each week and a good monthly wage of $3,416. However, calculating a good salary in Colorado Springs using the median income is only one method.
Another technique to figure out a good salary in Colorado Springs is to look at the cost of housing and multiply that by your salary. Experts agree that you should keep your property price to income ratio around 5 to 1. A respectable salary in Colorado Springs would be $53,960, based on the typical home price of $269,800.
Finally, we may estimate a good salary in Colorado Springs by comparing the cost of living to the national average. The cost of living in Colorado Springs is 6 percent more than than the national average. The national average pay is $56,310, therefore a good salary in Colorado Springs is anything over $59,688 by this criterion.
What is the cheapest city in Colorado to live in?
Federal Heights, a Denver suburb, tops the list of Colorado’s most affordable cities. Residents take advantage of family-friendly activities and frequent restaurants, coffee shops, and parks. This is the town for you if you’re looking for a great location on a tight budget, as the cost of living is 25% lower than the Colorado average.