Here are some of the best places in Colorado to retire, in no particular order: Fort Collins, CO Pedestrian Mall View – Old Town Fort Collins, CO. Photo: Joe Wolf. Marginal Income Tax Rates. 2020 Best Places to Retire in Colorado About this List Explore the best places to retire in the U.S. based on number of retirees, weather, and access to healthcare and entertainment. Retirement Income Exemptions. Total expenditures: $100,207 20% comfort buffer: $25,052 Cost of a comfortable retirement annually: $125,259 More From GOBankingRates. Over Half of Americans Are Missing Out on Free Money — Are You One of Them? — Click Here to Find Out While Colorado ranks above average for cost of living, its cost of living index – a number derived by the Council of Community and Economic Research – isn't that much higher than average. Due in part to its increasing popularity, the cost of living in the immediate Denver area is higher than the national average. It falls close to the national median of 100 with a 2014 index of 101.3. Ranking based on data from the U.S. Census, FBI, CDC, and other data sources. If you’re looking to live on a more modest retirement income, bordering cities like Colorado Springs and Englewood are less expensive. Many popular retirement destinations feature one or two seasons per year but to retire in Colorado means experiencing all four seasons every year. Residents enjoy restaurants, coffee shops, and parks and take advantage of family-friendly activities. Topping the list of the most affordable city in Colorado is Federal Heights, a suburb of Denver. Colorado's cost of living is above the national average, it is the 36th lowest in the country. For those looking to escape the increasing traffic of the Mile High City, but still reap the benefits of living in a large city, retire in Fort Collins. Listed above are the most affordable places to live in Colorado with a population of more than 5,000 people. To calculate the most affordable cities in Colorado, the cost of living index for each city was calculated, then … If you score a retirement home in the south part of the state, you’ll have access to stunning beaches. The cost of living is relatively low in Alabama, and there are many choices for entertainment and medical care. What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city. Colorado has a flat tax rate of 4.63%, one of the country's lowest. Retire to Alabama when you’re 65 or older, and you pay no property taxes. So we used that cost of living index in order to rank all of the 76 places in Colorado that have more than 5,000 people. The place with the lowest cost of living in Colorado … Free Retirement Calculator: When Can You Retire? Hawaii. Housing is affordable, and the economy is stable. However, if you’ve retired with a nice nest egg, that may not be a factor for you. 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