The latest study by SmartAsset, a New York personal finance website, shows consumer purchasing power varies widely across the US, in their analysis of which US metro areas were least affected by inflation. The areas were ranked based on purchasing power, cost of living, and per capita income. In Colorado, residents of Pueblo fare best, ahead of those in the areas of Grand Junction, Colorado Springs and Denver (see data below).
SmartAsset looked at the cost of living for each location by totaling the price of standard items, such as food and rent, in 2005 and 2015. The site then looked at per capita income for each metropolitan area. That income was then divided by the cost of living figures to determine purchasing power.
Meanwhile Colorado Springs’ robust housing market has made the top-ten list of US states with the best real estate activity, among cities with populations of 300,000 or more. And in Grand Junction, real estate experts are predicting an overall better year in 2016 than 2015 in western Colorado.
|Rank||Urban Area||Change in Purchasing Power||Avg. Change in Cost of Living||Avg. Change in Personal Income||Inflation Index|
|1||Pueblo CO Metro||11.98%||1.25%||2.40%||51.30|
|2||Grand Junction CO Metro||2.58%||2.13%||2.39%||37.52|
|3||Colorado Springs CO Metro||-2.23%||2.09%||1.86%||30.46|
|4||Denver-Aurora CO Metro||-10.23%||3.34%||2.23%||18.74|
SmartAsset’s full methodology and an interactive map of the metro areas least affected by inflation can be found here: https://smartasset.com/investing/inflation-calculator?year=2016#Colorado