Salary Needed to Live in Denver as a Retiree
A retired individual (65+) needs approximately $69,194/year to live comfortably in Denver, CO, including 5% savings.
Direct Answer
A retiree needs about $69,194/year to live comfortably in Denver, CO. The bare-minimum salary is $64,455/year, but the comfortable figure includes a 5% savings target and a monthly after-tax budget of $4,143.
The minimum scenario leaves about $3,921/mo after tax and no planned savings. The comfortable scenario uses $5,766/mo gross pay to cover expenses, taxes, and a savings buffer.
Hybrid salary estimateBLS, HUD, ACS inputsLast verified May 2026
Comfortable Salary
$69,194
with 5% savings
Bare Minimum
$64,455
$5,371/mo gross, no savings buffer
Monthly Expenses
$3,921
7% above national avg
Detailed Monthly Budget for a Retiree in Denver
| Expense | Denver | Nat'l Avg | Diff |
|---|---|---|---|
| 1-2BR Senior-Friendly Rent | $1,373 | $1,448 | -5% |
| Groceries | $313 | $189 | +66% |
| Utilities | $183 | $183 | 0% |
| Transportation | $241 | $211 | +14% |
| Car Insurance | $190 | $215 | -12% |
| Health Insurance | $635 | $642 | -1% |
| Medicare Supplement | $256 | $200 | +28% |
| Prescription Drugs | $192 | $150 | +28% |
| Internet + Phone | $154 | $120 | +28% |
| Recreation & Social | $256 | $200 | +28% |
| Home Maintenance | $128 | $100 | +28% |
| Total Monthly | $3,921 | $3,658 | +7% |
How We Calculated the Salary
Monthly expenses:$3,921
Target savings (5%):$222/mo
Monthly after-tax needed:$4,143
Effective tax rate:27%
Gross annual salary needed:$69,194
What Drives the Salary Number?
Housing
$1,373
1-2BR Senior-Friendly rent is 35% of this monthly budget.
Taxes
27%
Estimated federal plus CO state tax reserve used to convert take-home needs into gross salary.
Savings target
5%
$222/mo is reserved for savings so the salary is not just break-even.
Local index
128/100
Denver is close to the national baseline; the model adjusts baseline spending by local rent and cost data.
Compare Salary Needed in Nearby west Cities
Salary Planning Checklist
- Keep 1-2br senior-friendly housing near $1,373/mo or adjust the salary target upward.
- Budget $986/mo for persona-specific costs such as Medicare Supplement and Prescription Drugs.
- Use $64,455/year as the survival floor and $69,194/year as the healthier negotiation target.
Other Household Types in Denver
Related Pages
FAQ
What salary does a retiree need in Denver?
A retiree needs approximately $69,194/year ($5,766/month gross) to live comfortably in Denver with a 5% savings rate.
How much is rent for a retiree in Denver?
A 1-2br senior-friendly in Denver costs approximately $1,373/month, which is the largest single expense at 35% of the total budget.
Is Denver affordable for a retiree?
Denver is roughly average for retiree costs, requiring a salary close to the national median.