Alabama vs Colorado: Tax & Cost of Living Comparison
A comprehensive side-by-side comparison of taxes, cost of living, housing, income, and insurance costs between Alabama and Colorado.
State 1
Alabama
AL
State 2
Colorado
CO
| Category | Alabama | Colorado |
|---|---|---|
| Income Tax Rate | 5.00% | 4.40%Better |
| Property Tax Rate | 0.37%Better | 0.49% |
| Property Tax (on Median Home) | $777/yrBetter | $2,573/yr |
| Sales Tax Rate | 4.00% | 2.90%Better |
| Cost of Living Index | 89Better | 105 |
| Median Home Price | $210,000Better | $525,000 |
| Median Household Income | $56,500 | $82,250Better |
| Avg. Auto Insurance | $1,560/yrBetter | $2,100/yr |
| Avg. Home Insurance | $1,850/yrBetter | $2,600/yr |
Cost of Living Comparison
Index relative to national average (100)
Median Home Price
Alabama
$210,000
Property Tax: $777/yr
Colorado
$525,000
Property Tax: $2,573/yr
Alabama homes are 60.0% cheaper than Colorado homes.
Median Household Income
Alabama
$56,500
Colorado
$82,250
Colorado households earn $25,750 more per year on average.
Insurance Costs
| Type | Alabama | Colorado | Difference |
|---|---|---|---|
| Auto Insurance | $1,560/yr | $2,100/yr | $540/yr |
| Home Insurance | $1,850/yr | $2,600/yr | $750/yr |
| Total Insurance | $3,410/yr | $4,700/yr | $1,290/yr |
Overall Financial Comparison
Weighted score combining income tax, property tax, sales tax, cost of living, housing, insurance, and income. A lower score indicates better overall financial affordability.
Alabama
39.3
Colorado
33.5
More Affordable
The Bottom Line
Alabama offers lower property tax, lower cost of living, more affordable housing compared to Colorado. Meanwhile, Colorado offers lower income tax, lower sales tax, higher median income. Overall, Colorado edges ahead in our weighted financial comparison.
Alabama Advantages
- +Lower property tax
- +Lower cost of living
- +More affordable housing
Colorado Advantages
- +Lower income tax
- +Lower sales tax
- +Higher median income