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Cost of Living

Colorado is one of the fastest-growing states in the US in terms of population. The cost of living there is very much situationally dependent, with factors like exact location, career, and household size having a significant impact. It can be expensive.

Cost of living One person Family of 4
💰 Total with rent
$2334
$5550
🛋️ Without rent
$906
$3105
🏨 Rent & Utilities
$1429
$2445
🍽️ Food
$668
$1744
🚐 Transport
$98.1
$259
💳 Monthly salary after tax
$4228
😀 Quality of life
85
🏙️ Population
479K

The average cost of living in Colorado Springs is $2334, which is in the top 11% of the most expensive cities in the world, ranked 986th out of 9294 in our global list, 890th out of 2202 in the United States, and 19th out of 28 in Colorado.

The median after-tax salary is $4228, which is enough to cover living expenses for 1.8 months. Ranked 287th (TOP 3%) in the list of best places to live in the world and 70th best city to live in the United States, and 3rd most liveable city in Colorado. With an estimated population of 479K, Colorado Springs is the 42nd largest city in the United States.

Since 2005, an estimated 117,000 new residents have come to the city of Colorado Springs. Over the same period, the average priced home rose 119% from $218,707 to $449,123, as of February 2024. Increased demand and lagging development have created a shortage of housing and a tight housing market. Recent increases in mortgage rates have reduced affordability for those looking to purchase a home. Although higher mortgage rates tend to reduce demand for homes and provide some relief in terms of availability, permitting for new housing units is tapering off and actual home completions are likely to decline as builders respond to a slowing economy. Without an increase in the construction of new housing at all price levels, Colorado Springs will continue to have a housing supply shortage.