Cost of Living in Colorado Springs, CO: Housing, Rent and Groceries
Housing is the largest cost in Colorado Springs, with typical rent between $1,106 and $2,039 a month. Groceries and living-wage estimates show how the budget changes by household size.
That makes the local housing figure close to typical rather than high, so it is a fair starting point for your budget.
Each calculator uses its own data, time period and method, so these numbers are estimates rather than fixed prices. Compare figures only when they come from the same source and year.
What changes the cost of living the most?
Housing is the cost that changes your budget the most in Colorado Springs, and rent is where the widest gap appears. The table below sets the main figures side by side, with the period and scope of each.
Rent has the widest range of any figure here. Your rent in Colorado Springs depends mostly on how many bedrooms you need and which neighborhood you choose. Compare the same bedroom count across several neighborhoods before you judge the market, because a two-bedroom at the low end and one at the high end can cost very different amounts.
Groceries and wages
Groceries add a steady monthly cost that scales with household size. Use these two figures as a starting point, then adjust for how often your household eats out.
The living-wage figure shows a different side of the budget. A living wage is the hourly pay needed to cover basic costs, so treat it as a floor rather than a comfortable income.
Why the index and the housing figure differ
The overall index and the housing figure answer different questions. The overall index compares all everyday spending with the national average, and Colorado Springs is listed as 0% lower [1]. The housing figure compares only housing costs, and Colorado Springs housing expenses are 2% lower than the national average [2].
A city can be near the national average overall while its rent is well above or below that level for a specific household. That is why you should look at the category that matches your largest expense, not only the headline number. Rent, for most movers, is that category.
What does it look like for one person or a family?
A single person in Colorado Springs spends around $368.30 a month on groceries, while a family of four spends closer to $1,077.90 [3]. For a household of four, plan on the family figure, not a multiple of the single one, because the food costs of each added person are part of the total.
Groceries for one person or a family
The single-person figure is a good starting point if you live alone or are planning a first apartment. Multiply it out and you have a monthly food line you can compare with your take-home pay.
The family figure works the same way. Use it for a household of four, and adjust it if your household is larger or smaller. Grocery costs are one of the few everyday expenses that you can control directly, by cooking at home and planning meals.
What a living wage means
MIT's living-wage calculation for Colorado Springs lists $24.13 an hour in its first column, compared with a $15.16 minimum wage [4]. The gap between those two numbers is wide, and it shows why a minimum-wage job rarely covers a full set of living costs.
A living wage is the hourly pay a household needs to cover basic costs such as housing, food, transportation and health care. It is a floor, not a comfortable budget. If your pay only reaches the living-wage level, you will have little left for savings, car repairs, or an unexpected bill.
Use the living-wage figure as a test for a job offer. If the hourly pay is below it, the job will likely need a second income or a lower-cost home to work. If it is well above it, you have room to save and to handle the monthly costs covered elsewhere in this article. Learn more in Cost of Living in Baton Rouge, LA: What Households Spend.
Is Colorado Springs cheaper than the national average?
Colorado Springs costs about the same as the national average overall, and its housing runs slightly below it. Colorado's overall cost of living is 0% lower than the national average, and Colorado Springs's housing expenses are 2% lower [2]. For most movers, that means the city's baseline is close to typical, so your own rent and income will shape your budget more than the city's overall price level does. For a closer look, read Cost of Living in Tacoma, WA: Housing, Rent and Taxes.
Forbes Advisor's calculator gives the same headline for the overall figure. It puts the cost of living in Colorado Springs at 0% lower than average [1].
What the $9,471 figure means
The Forbes Advisor page also compares the income needed with your current household income. The total income needed is $9,471 less than your current household income [1]. In plain terms, if you already earn above the calculator's estimate, you have that much room in its calculation.
If you earn less than the estimate, the gap does not apply to you. That gap is a comparison, not a saving you will receive. It depends entirely on what your household earns now, so two households in the same city can get very different answers.
Why the two kinds of figure answer different questions
They tell you whether living in the city costs more or less than a typical place in the country.
Use the first kind of figure to judge whether Colorado Springs is cheaper than you expect. Use the second only as a rough check against your own budget.
Check the benchmark before you compare
Both sets of figures are estimates from online calculators, not guarantees of what you will pay. Look for the benchmark year on each calculator page before you compare one city with another. A comparison that mixes years can give a misleading result.
Take two households moving from the same state. Your own income and the benchmark year decide how useful these numbers are for your move.
Where should you start when budgeting for Colorado Springs?
Start with rent, because it is the cost that varies most from one home to the next [5]. Choose the bedroom count and neighborhood you could realistically live in, and use that rent as your first budget line.
Then add groceries for your household size. A single person in Colorado Springs spends around $368.30 a month on groceries, while a family of four spends closer to $1,077.90 [3]. Place that figure under housing so you see your two largest everyday costs side by side.
These figures are estimates from cost-of-living calculators, so check current listings and official data before you commit to a lease or a purchase.