Parachute, CO
Population 1,513 · Colorado
About Parachute, CO
Parachute is a small town located in Colorado with a population of 1,513 residents according to the latest US Census Bureau American Community Survey data. The median household income is $58,910 per year, which is 22% below the national median of $75,149. The median age of 26.8 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Parachute features a median home value of $269,500, which is 10% above the national median of $244,900. This positions Parachute in a moderately priced market relative to the rest of the country. Median monthly rent is $1,050, 10% below the national average of $1,163/month. Of the 561 total housing units, 52% are owner-occupied (273 units) and 48% are renter-occupied (255 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Parachute shows an unemployment rate of 15.1%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 18.0%, above the national average of 12.4%. Workers in Parachute have an average one-way commute time of 33.6 minutes.
Education & Demographics
9.4% of Parachute residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 8.3% White, 1.9% Hispanic or Latino, 1.3% Black or African American, and 11.3% Asian residents, with 5.0% of the population being foreign-born.
Cost of Living in Parachute, CO
Compared to national averages, Parachute has a median household income of $58,910 (22% below the national median of $75,149). Home values average $269,500, which is 10% above the national median. Monthly rent at $1,050 is 10% below the US average of $1,163. Within Colorado, Parachute's income is 33% below the state average of $88,514, and home values are 41% below the state median of $457,127.
Why Live in Parachute, CO?
Parachute offers rent that’s lower than the national average at $1,050/month.
Potential considerations include median household income ($58,910) that falls below the national average. However, Parachute’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Parachute has a population of 1,513 with a median age of 26.8 years. Compare Parachute with other cities to see how it stacks up, or explore all cities in Colorado.
Similar Cities Near Parachute
Cities in Colorado with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Nederland | 1,523 | $103,452 | $631,100 | Compare |
| Springfield | 1,482 | $42,368 | $122,600 | Compare |
| Leadville North | 1,470 | $96,447 | $397,900 | Compare |
| Limon | 1,572 | $46,950 | $208,000 | Compare |
| Paonia | 1,454 | $52,466 | $301,300 | Compare |
| Del Norte | 1,576 | $39,861 | $175,600 | Compare |
| Crested Butte | 1,436 | $71,923 | $928,100 | Compare |
| Alamosa East | 1,404 | $44,741 | $219,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Colorado
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Parachute With Other Cities
Frequently Asked Questions about Parachute
What is the population of Parachute, CO?
The population of Parachute, CO is 1,513 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Colorado.
What is the median household income in Parachute?
The median household income in Parachute, CO is $58,910 per year, which is 22% below the national median of $75,149.
What is the median home value in Parachute?
The median home value in Parachute, CO is $269,500, which is 10% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Parachute?
The median monthly rent in Parachute, CO is $1,050, which is 10% below the national average of $1,163/month.
What is the unemployment rate in Parachute?
The unemployment rate in Parachute, CO is 15.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Parachute, CO a good place to live?
Parachute offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 1,513 and a median age of 26.8, the city appeals to young professionals and families.
How educated is Parachute, CO?
9.4% of residents in Parachute aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Parachute?
Key cost-of-living indicators for Parachute, CO: median home value is $269,500 (10% above national), median rent is $1,050/month, and median household income is $58,910. The home-value-to-income ratio is 4.6x, a moderate figure by national standards.
What is the poverty rate in Parachute?
The poverty rate in Parachute, CO is 18.0%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Parachute, CO?
Parachute's population is 8.3% White, 1.9% Hispanic or Latino, 1.3% Black or African American, 11.3% Asian, and 0.0% two or more races. 5.0% of residents are foreign-born.