On November 6, 2012, Colorado voters passed Amendment 64, thereby legalizing the possession, distribution, and use of recreational cannabis by adults aged 21 and older. According to the law, customers are legally allowed to possess an ounce of marijuana flower. Originally, the law indicated that a dispensary could sell an ounce of weed, but in October 2016, the law changed to account for the more potent concentrates available for purchase at dispensaries. Colorado’s Marijuana Enforcement Division determined that concentrates contained greater levels of THC in smaller product amounts, so consumers should purchase a reduced amount of those products. The Colorado Department of Revenue issued a statement describing these new equivalency requirements that correspond one ounce of cannabis flower to eight grams of cannabis concentrate and 80 ten-milligram THC servings. Marijuana business in Colorado is booming. In 2016, cannabis sales reached over $1 billion, and Colorado amassed over $150 million in taxes from that revenue. $50 million of those taxes came from an excise tax, which is great news for schools since the first $40 million collected from that tax goes directly to school construction projects.
The Price Breakdown
The average price of recreational cannabis in Colorado is $11.03 per gram of flower
That number was calculated based on the following data gathered from Wikileaf, an app and website that allows prospective cannabis buyers to compare prices at dispensaries nearby. To work the app, you identify your location and then select the amount of marijuana you want to purchase from the following options: 1 gram, 1/8 ounce, ¼ ounce, ½ ounce, and 1 ounce. A list of dispensaries will populate, and you can sort it based on price or in alphabetical order by the dispensaries’ names.
In order to arrive at the estimate of $11.03, the price per gram of cannabis flower was averaged across 516 dispensaries located in 36 cities
These averages only include the retail prices listed at recreational marijuana dispensaries, not medical ones. It is also important to note that some dispensaries have yet to list their prices, so this calculation should be treated as a rough estimate. For those of you data lovers, here are the averages by city. In Denver, 92 dispensaries sold a gram of marijuana flower for about $10.38. In Colorado Springs, 27 dispensaries averaged at about $8.15. In Aurora, 31 dispensaries sold a gram for approximately $10. In Fort Collins, the 2 dispensaries listed sold their cannabis for about $13.50 per gram. In Lakewood, 72 dispensaries averaged at $10.88. In Thornton, 4 dispensaries sold their marijuana at an average of $11.75 per gram. The 49 dispensaries in Arvada sold their marijuana flowers for about $10.51 per gram. The 4 listed dispensaries in Pueblo averaged at $15.75. In Centennial, the 3 dispensaries sold their marijuana for about $10. You can purchase cannabis in Boulder from 11 dispensaries for about $14 per gram. The 1 dispensary in Greeley is selling a gram of cannabis for $10.67. The 3 dispensaries in Broomfield average at $10.54 per gram.
In Commerce City, 57 dispensaries average at $12.08 per gram
The 12 dispensaries in Littleton sell their cannabis for about $14 per gram. Northglenn’s 1 dispensary sells its cannabis for $11 per gram. In Englewood, 30 dispensaries sell a gram of marijuana for about $10.41. In Wheat Ridge, 51 dispensaries sell a gram of marijuana for about $10. The 1 dispensary in Canon City sells a gram of marijuana for $14.50. Steamboat Springs’ 2 dispensaries average at $9 per gram. In Federal Heights, 5 dispensaries also average at $9 per gram. The 3 dispensaries in Aspen are selling marijuana for about $16.33 a gram. In Avon, 4 dispensaries list their marijuana for about $20 per gram. In Cherry Hills Village, 26 dispensaries are selling their cannabis for about $11.50 per gram. The 4 dispensaries in Vail are selling cannabis for about $20 per gram. In Manitou Springs, 1 dispensary is selling cannabis for $18. In Breckenridge, 2 dispensaries are selling their marijuana for about $9 per gram. The single dispensary in Silverthorne is selling a gram of marijuana for $24. The 3 dispensaries in Snowmass Village are selling a gram of cannabis for about $16.33. In Frisco, 3 dispensaries average at $14 per gram. The dispensary in La Salle is selling a gram of cannabis for $14.
The only dispensary listed in Idaho Springs is selling a gram of cannabis for $17.
In Nederland, the 2 dispensaries are selling marijuana for about $15.50. The four dispensaries in Minturn are selling their marijuana for about $20 per gram. Ouray’s single dispensary is selling a gram for $18. The only dispensary listed in Central City is selling a gram of cannabis for $17. The 1 dispensary in Green Mountain Falls is selling a gram of cannabis for $18. Conclusions A quick glance at the number shows a logical trend—cities with a denser population of dispensaries tend to have lower average prices, while cities with fewer dispensaries tend to have higher prices. For example, all of the cities with more than 20 dispensaries are selling a gram of marijuana for less than $13. In most cases, cities with 5 or less dispensaries are selling their marijuana for at least $14 per gram. What these estimates do not show are some of the very low prices available. In several cities, a gram of cannabis can be purchased for an incredibly low $2, and almost every city with at least 20 dispensaries has multiple options under $10. So the next time you want to make a cannabis purchase, save yourself time and money, and use Wikileaf to figure out the best price for marijuana near you.