Cost of Living Breakdown
The cost of living in Colorado Springs, CO is 3% higher than the national average. Here's how each category compares:
| Category | Index | vs National Avg |
|---|---|---|
| Overall | 103 | +3% |
| Housing | 108 | +8% |
| Groceries | 99 | -1% |
| Utilities | 95 | -5% |
| Transportation | 100 | Average |
| Healthcare | 102 | +2% |
Housing Costs in Colorado Springs
Housing is typically the largest expense. In Colorado Springs, the housing index is 108 (national average = 100).
- Median home price: $430,000
- Median rent (1 bedroom): $1,350/month
- Median rent (2 bedrooms): $1,650/month
- Annual rent (1BR): $16,200/year
Housing costs in Colorado Springs are roughly in line with national averages.
How Much Do You Need to Earn in Colorado Springs?
To maintain the equivalent of a $50,000 salary at the national average cost of living, you would need to earn approximately $51,500 in Colorado Springs. The median household income of $70,742 translates to a monthly budget of approximately $5,895.
Groceries & Everyday Expenses
The grocery index in Colorado Springs is 99. Grocery prices are close to the national average.
Transportation & Utilities
Transportation costs sit at an index of 100, while utilities come in at 95. Transportation costs are reasonable compared to other major cities.
Healthcare
Healthcare costs in Colorado Springs are indexed at 102. Healthcare costs are close to or below the national average.
Compare to Colorado
See statewide salary and tax data on our average salary in Colorado page. Also see income data for this city on our average salary in Colorado Springs page.
Financial Tools
Use our free calculators to plan your finances in Colorado Springs:
- Mortgage Calculator — estimate your monthly home payment
- Home Affordability Calculator — see how much house you can afford
- Salary Calculator — convert hourly to annual pay
- Savings Goal Calculator — plan for your move or down payment