How Much Does It Cost To Live In Gypsum, CO?
Did you know that Gypsum, Colorado, is one of the more budget-friendly areas to call home here in the Vail Valley? In this video, I'm going to tell you all about the cost of living right here in Gypsum. We'll look at everything from taxes and gas prices to housing costs so you know exactly what to expect when you get here.
Verify your mortgage eligibility (Apr 25th, 2024)The Cost Of Living In Gypsum
If Gypsum, Colorado is on your shortlist of places to move to, we welcome you with open arms. The Vail Valley is an awesome place to call home. While everybody thinks that life is expensive no matter where you’re coming from, Gypsum is one of the more budget-friendly places here in the Vail Valley.
Depending on where you’re coming from, Gypsum's cost of living is generally about 35% higher than the national average if you factor in housing, bills, utilities, groceries, gas, etc. The biggest driver for that high cost of living is currently the cost of housing.
However, Gypsum has the overall lowest sales tax here in the Vail Valley at just 4.4% - Colorado, Eagle County, and special tax combined. The average sales tax in Colorado is just about 4.6%, and the US average for sales tax comes in at 5.3%.
Verify your mortgage eligibility (Apr 25th, 2024)Utilities
Utilities in Gypsum - including water and sewer - are going to run you about $60 to $75 apiece. Additionally, depending on the type of property that you’re living in, we have baseboard electric heat. In the winter, it is frickin' awful. Even with solar on the roof to lower energy costs and bills, we have yet to see that.
We have a little two bed, two bath, and our electric bill has been pushing $300 a month. This is just in the winter, as it's been really, really cold in the morning, so be mindful of that. If you have natural gas heat like some of our friends, family, and clients, this radiant floor heat is a little bit better than the electric baseboard heat that we have.
Overall, keep in mind that in the winter, your cost of electricity and heating materials is going to be about $250 or more depending on the size of your property.
Verify your mortgage eligibility (Apr 25th, 2024)Gas Prices
If you become a resident here in Gypsum, you might commute like many other residents. Locals travel anywhere from 15 to 40 miles to get to work, whether you’re part of the Vail healthcare system, the school systems, or if you have your own business. Gas is one of those things that we all need to have, especially if you’re in Gypsum.
In addition to commuting, if you’d like to get out and do any sort of activity - whether it’s to go to the state parks, hike, snowmobile, or get to the resorts that are about 35 to 40 minutes away by the I-70 corridor - gas is one of those things that, unfortunately, we need regularly. As of today, the national average is $3.35 a gallon. Here in Gypsum, we found that it’s running about $3.50 a gallon.
Groceries And Shopping
One of those other things that we need, besides fuel for our trucks, is fuel for our bodies. The grocery costs here compared to the national average are about 1.5% higher; this is just because we’re so far away from any major city. In the corridor here, I-70 is pretty much the only way you can get east and west in Gypsum. This means your food costs are going to be slightly higher than the national average and about 1% higher than the Denver metro and overall Colorado average.
Verify your mortgage eligibility (Apr 25th, 2024)One of the things that we found is that if you do shop at the local markets, those costs are going to be a little higher. For big-ticket items, there’s a Costco in town that attracts people from all over the valley. From the Roaring Fork Valley and the Vail Valley to the other side of Summit County, those folks come here instead of heading down to Denver. That Costco is pretty much a lifesaver for those of us that live up here in the Valley.
My wife and I looked at our last two months of Costco trips. There’s two of us, we have a couple of dogs, and I eat a ton of food - probably more than most people out there. For produce and smaller ticket items, we've been averaging about $250 a week. We also go to the local markets here, though those markets are far more expensive than you would see in the Denver Metro area. When we go to City Market for the remainder of our items that we can’t get from Costco, those four total trips on average cost us about $60 bucks.
Overall, for my wife and I to eat, that's about $310. Keep in mind, I eat a ton of food. But if you’re a couple with a few small kids, that’s probably the same amount that you would spend.
Verify your mortgage eligibility (Apr 25th, 2024)Fitness And Recreation
If you're looking to go to the gym and enjoy some recreation in Gypsum, there’s a ton of free things to do. You can find plenty of hiking and biking trails and, once you get your boots, bike, and cross country skis, the basic entry costs of all your activities to go to the open spaces is free. If you want to go to the gym, there's a Recreation Center in Gypsum that costs about $70 per month per couple for residents - and you can also bring the kiddos.
The cool thing about the Rec Center is there’s an indoor-outdoor pool, so in the summertime when it’s blazing hot, you can go take a dip. In the wintertime, there are waterslides at the Rec Center, basketball courts, and even foam pits. If you go on a Saturday, Sunday, or after school in winter, it's full of kids and adults getting their workouts in, breaking a sweat, and destressing from the day. For the most part, it’s a fairly reasonable price compared to some of the more fancy health clubs that you might be familiar with.
In some of your large cities, Rod & Gun Club day or yearly passes are available. Costs will depend on the sport and the style of what you’re trying to get into. You can shoot archery, large guns, and they can help you learn about fishing and hunting. While the costs are variable depending on what you get into, expect to pay anywhere from $150 to $500 a month depending on what you pick. Additionally, right up the road is Eagle's ice skating, pool, and Rec Center for about $250 a year for the family.
Verify your mortgage eligibility (Apr 25th, 2024)Housing
Last but not least is housing. As mentioned, housing is one of the biggest reasons that it’s more expensive to live here than the national average. The average single-family house in Gypsum is currently at about $517,000. The average household income is right around $89,000 here in gypsum.
Additionally, 27% of the population rent and 73% of the population own. The average rent is about $1,730 a month for a one-bedroom as it currently sits here at the time of this recording.
Make Gypsum Your Home
I hope this gave you a good idea of the cost of living in Gypsum Colorado. When you’re ready to get your mortgage financing squared away and move and relocate right here to the beautiful Denver, Colorado area, we’ve got your back. Be sure to reach out to us and we'll be happy to help you get prepared to become a Coloradoan here in the Vail Valley.
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