Salary & Cost of Living in Denver, CO
Denver, CO: $78,500 median salary, cost of living index 118, $14.81/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$78,500
$38/hr
Cost of Living
118
US avg = 100
Minimum Wage
$14.81
per hour
Unemployment
3%
rate
Denver, CO Overview
Population
715,522
Median Salary
$78,500
Average Salary
$87,000
Avg Commute
27 min
Median Home Price
$550,000
Median Rent
$1,850/mo
Job Growth
+2.5%
Sales Tax
8.81%
Denver is located in Colorado with a population of 715,522. The median household salary is $78,500 per year ($38/hour), which is $19,116 above the national median of $59,384. The average commute time is 27 minutes, and the city has a job growth rate of +2.5%.
Denver Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Denver, CO, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$60,157
$5,013.06/month · $2,313.72/biweekly · Effective Rate: 23.4%
Gross Pay
$78,500
Federal Tax
-$8,884
State Tax
-$3,454
Local Tax
$0
FICA
-$6,005
Net Pay
$60,157
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $6,541.67 | $78,500.00 |
| Federal Income Tax | -$740.33 | -$8,884.00 |
| Colorado State Tax (4.4%) | -$287.83 | -$3,454.00 |
| Social Security (6.2%) | -$405.58 | -$4,867.00 |
| Medicare (1.45%) | -$94.85 | -$1,138.25 |
| Net Take-Home Pay | $5,013.06 | $60,156.75 |
Salary Comparison: Denver vs Other Cities
See how Denver's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Denver, CO | $78,500 | 118 | $66,525 |
| National Average | $59,384 | 100 | $59,384 |
| Gilbert, AZ | $78,500 | 110 | $71,364 |
| San Diego, CA | $78,500 | 160 | $49,063 |
| Torrance, CA | $78,000 | 155 | $50,323 |
| Pasadena, CA | $78,000 | 160 | $48,750 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Denver
Denver's cost of living index is 118 (national average = 100). Living in Denver is 18% more expensive than the national average.
Median Home Price
$550,000
Median Monthly Rent
$1,850
Annual Rent Cost
$22,200
Your Salary's Purchasing Power
Your $60,157 annual take-home pay in Denver has the purchasing power of approximately $50,980 in an average-cost US area. You would need to earn $92,630 in Denver to match a $78,500 salary in an average-cost city.
Top Industries in Denver
Denver's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $78,500.
Salary Tips for Denver Workers
- Research top industries. Denver's top industries include Technology, Energy, Healthcare. Targeting roles in these sectors can help you earn above the $78,500 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
Compare salary data and cost of living for hundreds of US cities. Find out where your paycheck goes the furthest.
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Frequently Asked Questions
What is the median salary in Denver, CO?
The median salary in Denver, CO is $78,500 per year, or $38 per hour. The average salary is $87,000. This is $19,116 above the national median of $59,384.
What is the cost of living in Denver, CO?
Denver's cost of living index is 118 (national average = 100), meaning it is 18% more expensive compared to the national average. The median home price is $550,000 and the median monthly rent is $1,850.
What are the best industries in Denver?
The top industries in Denver, CO include Technology, Energy, Healthcare. The city has a job growth rate of 2.5% and an unemployment rate of 3%. Workers in these industries often earn above the city's median salary of $78,500.
How does Denver's salary compare to other cities?
Denver's median salary of $78,500 is 32.2% above the national median of $59,384. However, when adjusted for cost of living (index: 118), the real purchasing power is approximately $66,525.
What is the minimum wage in Denver, CO?
The minimum wage in Denver, CO is $14.81 per hour. This equals approximately $30,805 per year for a full-time worker (40 hours/week). This is $7.56 above the federal minimum wage of $7.25/hour.