Salary & Cost of Living in Parker, CO
Parker, CO: $65,924 median salary, cost of living index 102.1, $14.42/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$65,924
$32/hr
Cost of Living
102.1
US avg = 100
Minimum Wage
$14.42
per hour
Unemployment
3.9%
rate
Parker, CO Overview
Population
57,706
Median Salary
$65,924
Average Salary
$73,835
Avg Commute
16 min
Median Home Price
$574,000
Median Rent
$2,325/mo
Job Growth
+1.5%
Sales Tax
2.9%
Parker is located in Colorado with a population of 57,706. The median household salary is $65,924 per year ($32/hour), which is $6,540 above the national median of $59,384. The average commute time is 16 minutes, and the city has a job growth rate of +1.5%.
Parker Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Parker, CO, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$51,863
$4,321.91/month · $1,994.73/biweekly · Effective Rate: 21.3%
Gross Pay
$65,924
Federal Tax
-$6,117
State Tax
-$2,901
Local Tax
$0
FICA
-$5,043
Net Pay
$51,863
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,493.67 | $65,924.00 |
| Federal Income Tax | -$509.77 | -$6,117.28 |
| Colorado State Tax (4.4%) | -$241.72 | -$2,900.66 |
| Social Security (6.2%) | -$340.61 | -$4,087.29 |
| Medicare (1.45%) | -$79.66 | -$955.90 |
| Net Take-Home Pay | $4,321.91 | $51,862.88 |
Salary Comparison: Parker vs Other Cities
See how Parker's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Parker, CO | $65,924 | 102.1 | $64,568 |
| National Average | $59,384 | 100 | $59,384 |
| Ashburn, VA | $65,912 | 105.9 | $62,240 |
| Bergenfield, NJ | $65,940 | 125.8 | $52,417 |
| Oyster Bay, NY | $65,956 | 145 | $45,487 |
| Odenton, MD | $65,973 | 110.2 | $59,867 |
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 Parker
Parker's cost of living index is 102.1 (national average = 100). Living in Parker is 2.0999999999999943% more expensive than the national average.
Median Home Price
$574,000
Median Monthly Rent
$2,325
Annual Rent Cost
$27,900
Your Salary's Purchasing Power
Your $51,863 annual take-home pay in Parker has the purchasing power of approximately $50,796 in an average-cost US area. You would need to earn $67,308 in Parker to match a $65,924 salary in an average-cost city.
Top Industries in Parker
Parker's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $65,924.
Salary Tips for Parker Workers
- Research top industries. Parker's top industries include Technology, Aerospace, Energy. Targeting roles in these sectors can help you earn above the $65,924 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
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Frequently Asked Questions
What is the median salary in Parker, CO?
The median salary in Parker, CO is $65,924 per year, or $32 per hour. The average salary is $73,835. This is $6,540 above the national median of $59,384.
What is the cost of living in Parker, CO?
Parker's cost of living index is 102.1 (national average = 100), meaning it is 2.0999999999999943% more expensive compared to the national average. The median home price is $574,000 and the median monthly rent is $2,325.
What are the best industries in Parker?
The top industries in Parker, CO include Technology, Aerospace, Energy. The city has a job growth rate of 1.5% and an unemployment rate of 3.9%. Workers in these industries often earn above the city's median salary of $65,924.
How does Parker's salary compare to other cities?
Parker's median salary of $65,924 is 11.0% above the national median of $59,384. However, when adjusted for cost of living (index: 102.1), the real purchasing power is approximately $64,568.
What is the minimum wage in Parker, CO?
The minimum wage in Parker, CO is $14.42 per hour. This equals approximately $29,994 per year for a full-time worker (40 hours/week). This is $7.17 above the federal minimum wage of $7.25/hour.