Cost of Living in Colorado Springs, CO
Colorado Springs is about 15% more expensive than the national average.
What Things Cost
Compared to the US average (100)
Census ACS 2024
Census ACS 2024
BEA RPP 2023
BEA RPP 2023
Colorado Springs at a Glance
On the median income of $83,672, state income tax is roughly $3,682/year.
Sources: Census ACS 2024, Tax Foundation.
Colorado Springs is Denver's more affordable southern neighbor and a city that has quietly become one of the best values in the Mountain West. The median home price of about $430,000 is roughly $125,000 less than Denver's. Five military installations (Fort Carson, Peterson Space Force Base, US Air Force Academy, Schriever, Cheyenne Mountain) provide enormous economic stability. The Garden of the Gods, Pikes Peak, and year-round sunshine (more than 300 sunny days) deliver the Colorado outdoor lifestyle at a lower entry price.
How People Get Around
Source: Census ACS 2024.
Who Lives Here
Source: Census ACS 2024.
Why People Move to Colorado Springs
Military employment is the foundation, but the economy has diversified into tech, defense contracting, and outdoor recreation. The Olympic and Paralympic Training Center is here. The Air Force Academy campus is stunning. Garden of the Gods is free and genuinely spectacular. The Broadmoor resort adds a touch of luxury. The downtown has been revitalized with restaurants and culture.
Neighborhoods
The Broadmoor area is affluent. Manitou Springs (adjacent) is quirky and artsy. Old Colorado City has galleries and shops. Briargate and Northgate are family suburbs with good schools. For affordable options, the southeast and Fountain (south) offer lower prices. The Westside has character but variable quality.
Things to Consider
Colorado Springs is more conservative than Denver, both politically and culturally. The food and arts scenes are growing but cannot match Denver's depth. The city sprawls significantly. Altitude (6,035 feet) affects newcomers. Housing costs have risen sharply, though they remain below Denver. Water scarcity is a growing concern.
Compare Colorado Springs To...
Frequently Asked Questions About Colorado Springs
Yes. The median home price of about $479,500 is roughly $479,500 less than Denver's $636,400. Rental costs are also lower. Both share Colorado's flat 4.4% income tax and low 0.49-0.55% property taxes. Colorado Springs offers a similar outdoor lifestyle (mountains, sunshine) at a meaningful discount.
Massive. Five major installations make Colorado Springs one of the most military-dense metros in the country. Fort Carson (Army), Peterson Space Force Base, Schriever Space Force Base, the US Air Force Academy, and Cheyenne Mountain (NORAD). Military spending accounts for roughly 40% of the local economy and provides exceptional stability.
Yes. Schools in District 20 (Briargate, Northgate) and District 12 (Cheyenne Mountain) are highly rated. The cost of living is more manageable than Denver for single-income families. The outdoor access for kids is exceptional. The city is safe by metro standards. The military community provides a family-oriented culture.