Cherry Creek, CO

Very High · 191

Colorado · Population 11,011 · Updated March 2026

$1,974
Median Rent / Month
$147,618
Median Income
$856,800
Median Home Value
$2,270
Owner Costs / Month

Affordability

How far your income goes in Cherry Creek

16.0%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Colorado

State-level tax rates that affect your costs

4.4%
Income Tax (Top Rate)
2.9%
Sales Tax
0.51%
Property Tax Rate

Estimated Annual Costs

$23,688
Annual Rent
$6,495
State Income Tax
$4,370
Property Tax (est.)

Cost of Living Overview

Cherry Creek has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 191 (where 100 equals the national median), Cherry Creek residents can expect to pay median rent of $1,974/month while earning a median household income of $147,618/year.

The median home value in Cherry Creek, CO is $856,800, with typical monthly owner costs around $2,270 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Colorado has a moderate income tax rate of 4.4%. Combined with a 2.9% sales tax rate and 0.51% effective property tax rate, the overall tax environment is a factor in the total cost of living in Cherry Creek.

Frequently Asked Questions

Common questions about living costs in Cherry Creek

What is the cost of living in Cherry Creek, CO?
The cost of living index in Cherry Creek, CO is 191 (US average = 100). Median monthly rent is $1,974, median household income is $147,618/year, and the median home value is $856,800.
Is Cherry Creek, CO affordable?
No, Cherry Creek is more expensive than the national average with a cost index of 191. The rent-to-income ratio is 16.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Cherry Creek, CO?
The median gross rent in Cherry Creek, CO is $1,974 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $23,688.
What is the median household income in Cherry Creek?
The median household income in Cherry Creek, CO is $147,618 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Colorado?
Colorado has a top income tax rate of 4.4%, a sales tax of 2.9%, and an effective property tax rate of 0.51%.