Housing Costs in Centennial

Housing is typically the largest expense for residents in Centennial, Colorado. As of 2025, the median rent for a 2-bedroom apartment in Centennial is approximately $1,900 per month. For those looking to purchase a home, the typical mortgage payment for a 3-bedroom house is around $2,400 per month, assuming a 20% down payment on a median-priced home of $550,000.

It’s important to note that many neighborhoods in Centennial have homeowners associations (HOAs), which can add an additional $200-400 to your monthly housing costs. While HOA fees are common, they are not mandatory in all areas. When budgeting for housing, consider the following ranges:

• 2-bedroom apartment: $1,700 – $2,200 per month
• 3-bedroom house (mortgage): $2,200 – $2,800 per month
• HOA fees (if applicable): $200 – $400 per month

Utilities and Energy Bills

Utility costs in Centennial are relatively moderate compared to other parts of the country. However, it’s essential to factor in seasonal spikes, especially during the summer months when cooling costs can increase significantly. On average, residents can expect to pay the following for monthly utilities:

Utility	Average Monthly Cost
Electricity	$100 – $150
Natural Gas	$30 – $50
Water and Sewer	$60 – $80
Trash and Recycling	$20 – $30
Total	$210 – $310

Keep in mind that these figures are estimates and can vary depending on factors such as home size, energy efficiency, and personal consumption habits.

Groceries and Daily Expenses

The cost of groceries and daily expenses in Centennial is slightly higher than the national average. A single person can expect to spend around $350-$450 per month on groceries, while a family of four may spend upwards of $1,100-$1,300 per month. These figures assume a mix of home-cooked meals and occasional dining out.

To give you a better idea of what a typical grocery basket might look like, here are some common items and their approximate prices:

• Gallon of milk: $3.50
• Loaf of bread: $2.75
• Dozen eggs: $2.50
• Pound of chicken breast: $4.50

In addition to groceries, it’s important to budget for household items, personal care products, and occasional dining out. A reasonable estimate for these additional expenses would be $150-$300 per month for a single person and $400-$600 per month for a family.

Taxes and Hidden Fees

Centennial residents are subject to several taxes and fees that can impact their overall cost of living. The property tax rate in Centennial is approximately 0.55%, which means that for a home valued at $550,000, the annual property tax would be around $3,025, or $252 per month.

In addition to property taxes, residents should be aware of the following:

• Sales tax: 8.25% (combined state and local)
• Vehicle registration fees: Varies based on vehicle type and value
• HOA fees (if applicable): $200 – $400 per month
• Trash and recycling fees: Often included in HOA or billed separately

Monthly Budget Summary

To help you visualize the overall cost of living in Centennial, here’s a summary table that aggregates the monthly estimates for various household sizes:

Expense	Single Person	Couple	Family of Four
Housing (rent or mortgage)	$1,700 – $2,200	$1,900 – $2,400	$2,200 – $2,800
Utilities	$210 – $310	$250 – $350	$300 – $400
Groceries and Daily Expenses	$500 – $750	$800 – $1,100	$1,500 – $1,900
Taxes and Fees	$300 – $500	$400 – $600	$500 – $700
Total Monthly Budget (pre-tax)	$2,710 – $3,760	$3,350 – $4,450	$4,500 – $5,800

Please note that these figures are based on gross monthly income (pre-tax) and do not include other expenses such as healthcare, childcare, or entertainment.

Lifestyle Considerations

When deciding whether Centennial is the right place for you, it’s important to consider lifestyle factors beyond just the cost of living. Centennial offers a suburban lifestyle with relatively easy access to Denver and its surrounding areas. The average commute time in Centennial is around 25-30 minutes, which is slightly lower than the national average.

Residents of Centennial enjoy access to numerous parks, trails, and open spaces, making it an attractive option for those who value outdoor recreation. The city also boasts a strong school system, making it a popular choice for families with children.

However, it’s important to note that the cost of living in Centennial is higher than in some neighboring cities like Aurora or Thornton. The trade-off is that Centennial offers newer homes, lower crime rates, and a more affluent community overall. When deciding where to live, consider your priorities and budget to determine whether the amenities and lifestyle in Centennial are worth the additional costs.

Frequently Asked Questions

• Q: What salary do you need to live comfortably in Centennial?
  A: To live comfortably in Centennial, a single person should aim for a gross monthly income of at least $3,500, while a couple would need around $4,500, and a family of four would require approximately $6,000.
• Q: Is Centennial more expensive than other Denver suburbs?
  A: Yes, Centennial tends to be more expensive than some neighboring suburbs like Aurora or Thornton, primarily due to its newer homes, lower crime rates, and more affluent community.
• Q: Are property taxes high in Centennial?
  A: Property taxes in Centennial are relatively moderate, with a rate of approximately 0.55%. For a home valued at $550,000, the annual property tax would be around $3,025.
• Q: How much should I budget for utilities in Centennial?
  
  A: On average, residents can expect to pay between $210 and $310 per month for utilities, including electricity, natural gas, water, sewer, trash, and recycling.
• Q: Is it more affordable to rent or buy a home in Centennial?
  A: The decision to rent or buy depends on your personal circumstances and long-term goals. However, with the median rent for a 2-bedroom apartment at $1,900 and the typical mortgage payment for a 3-bedroom house at $2,400, buying may be more cost-effective in the long run if you plan to stay in Centennial for several years.