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USAF Academy

Cost of Living

According to “Best Places,” the overall cost of living score for Colorado Springs is more than 10% above the national average.

The single-family median home price in Colorado Springs is more than $500,000. Across El Paso County as a whole, the median price is somewhat lower since the county includes more affordable communities beyond the city core. Mortgage payments are likely to be above the Basic Allowance for Housing received.

The rental unit inventory has increased in the last few years, resulting in more rental options available but still costing 14% higher than the national average. In the Colorado Springs area, the rental cost for a two-bedroom apartment is approximately $1,600-1,800 per month.

Utilities costs have varied, with an estimated monthly utility cost for a residential home at $250 per month (with electricity making up 60% of the cost). Transportation costs, especially car insurance rates, have risen and are approximately 18% above the national average with Colorado drivers paying an average of $146 per month for full coverage.