Average Salary in Colorado

State of United States · Data verified 2025-01-01

Minimum wage

$15.16 /hr

Average salary $5,400 /mo

+ 109% vs United States national rate #9 of 56 state Since 2026-01-01

With a population of 6 million, Colorado is a state of United States whose economy centers on technology and aerospace. Its minimum wage of $15.16 per hour is 109% above the national rate. Workers earn an average gross salary of $5,400 per month. The cost of living is 3% above the national average. The median household income is $87,598 per year.

• AT A GLANCE

Rank: #9 of 56; state
vs National: +109%; United States floor
Annual (est.): $31,533; full-time, before tax
Change Since 2018: +49%; nominal wage

Wage Breakdown

Hourly: $15.16
Monthly: $2,627.68 Based on 173.33 hours/month (40 hrs/week)
Annual: $31,532.80 Based on 2,080 hours/year

2026 rate of $15.16/hr effective January 1 (CPI-indexed annual adjustment from $14.81). Some local jurisdictions set higher rates (e.g., Edgewater $18.17 since January 2026).

At this rate, a full-time worker earns approximately $31,533 /yr before tax. Whether that covers living costs depends on local prices. See United States purchasing power context.

Average Salary

$5,400 /mo gross

$64,800 /yr gross

Bureau of Labor Statistics - OES · 2025

Median Income

$87,598 /yr household

$44,552 /yr individual

U.S. Census Bureau - American Community Survey · 2023

Minimum Wage History

Nominal wage

Minimum wage history for Colorado
Year	Nominal
2026	$15.16 hourly
2025	$14.81 hourly
2024	$14.42 hourly
2023	$13.65 hourly
2022	$12.56 hourly
2021	$12.32 hourly
2020	$12 hourly
2019	$11.10 hourly
2018	$10.20 hourly