Colorado Minimum Wage 2024 Increase Rate. Local governments are allowed to set a minimum wage that's higher than the state rate of $14.40 per hour. Colorado’s minimum wage is expected to increase on january 1, 2024, in line with the cost of living (cola) to an amount not yet determined.

Colorado’s minimum wage is expected to rise to $14.42 from $13.65 effective jan. Colorado’s is tentatively increasing 39 cents to $14.81, from $14.42.