COLORADO NEWS

Colorado among the top five states you need to make the most money to live in

Apr 1, 2025, 4:34 PM | Updated: Apr 2, 2025, 10:43 am

Everyone knows living in Colorado is not cheap, but when it gets more expensive than states like New York and New Jersey, I get a little concerned…

Research from Bankrate reveals prospective homebuyers need an annual household income of $116,986 to afford a typical home in teh U.S. in 2025, but Colorado is way above that average!

That’s almost a 50 percent increase since 2020, when the income needed was just $78,236.

The typical home is defined as a home at the median national sale price of $418,489.

The 10 states requiring the highest income to afford a typical home in 2025:

  1. Washington, D.C.: $240,009
  2. Hawaii: $235,638
  3. California: $213,447
  4. Massachusetts: $174,392
  5. Colorado: $168,643
  6. Washington: $164,608
  7. New York: $160,300
  8. New Jersey: $160,001
  9. Utah: $151,956
  10. Rhode Island: $144,175

The 10 states requiring the lowest income to afford a typical home in 2025:

  1. West Virginia: $64,179
  2. Iowa: $70,437
  3. Ohio: $71,080
  4. Mississippi: $72,072
  5. Indiana: $72,342
  6. Arkansas: $73,330
  7. Michigan: $74,228
  8. Missouri: $74,263
  9. Louisiana: $76,145
  10. Oklahoma: $77,596

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Colorado among the top five states you need to make the most money to live in