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Before relocating to a new state, understanding the cost of living is a critical factor in determining whether a certain area fits your budget and lifestyle. For those moving to Colorado Springs, the cost of living is approximately 1% higher than the national average, with housing, utilities, taxes, and everyday costs varying by neighborhood, home type, and desired lifestyle. Taking a closer look at how these factors come together helps set realistic expectations and provides a clearer picture of what it costs to live in Colorado Springs today.
Cost of Living: What is it?
The cost of living refers to the prices necessary to maintain a household's or an individual's standard of living in a specific area. The cost of living index measures changes in expenses over time by comparing different regions to provide an accurate measure.
Each state's cost of living index is compared to the U.S. average of 100. Colorado sits at an index of 102.7. We’ve broken down this index to help you better understand the cost of living in Colorado Springs.
Monthly Living Expenses: Colorado Springs vs. National Average
- Housing: 4% above the national average.
- Food: 3% above the national average.
- Transportation: 1% lower than the national average.
- Utilities: 22% lower than the national average.
- Healthcare: 4% lower than the national average.
To put these costs into perspective, the median household income in Colorado Springs is in the mid-$80,000s, which helps support the area’s overall cost structure and contributes to a Colorado Springs cost of living that remains manageable for many households.
Overall, monthly living expenses in Colorado Springs are generally comparable to the U.S. average, with higher housing and food costs offset by lower expenses in utilities, transportation, and healthcare, making it an attractive option for those moving to Colorado who want balanced affordability without sacrificing quality of life.
Taxes in Colorado Springs
Taxes are an important part of the overall cost of living in Colorado Springs. Colorado generally has a lower tax burden compared to the national average, which can help offset slightly higher housing costs.
Property taxes in the area tend to be relatively low, making homeownership more attainable for many buyers. Colorado also has a flat state income tax, providing consistency and predictability for residents.
While exact tax costs vary based on income, home value, and location, the overall tax structure contributes to a balanced and manageable cost of living in Colorado Springs.
New Construction vs. Resale Costs
Housing purchasing decisions affect the cost of living month to month, which is why many buyers compare new construction and resale homes when evaluating overall affordability in Colorado Springs.
New construction homes typically come with a higher upfront cost (often several hundred dollars per square foot). Still, they can offer lower long-term maintenance and energy expenses due to modern systems and building standards. Newer homes also tend to hold substantial resale value in the early years, as buyers often prioritize move-in-ready condition and updated features.
Resale homes generally have a lower entry price, with recent median home values in the mid-$400,000 range, but may require more immediate repairs, renovations, or higher utility costs.
Finding the Right Home in Colorado Springs
Vantage Homes, a leading home builder in Colorado Springs, helps buyers navigate both the cost of living and housing decisions by offering thoughtfully designed new and semi-custom homes in some of Colorado Springs’ most desirable communities. With modern floorplans, energy-efficient features, and predictable build quality, Vantage Homes provides options that support long-term value and everyday comfort.
As you plan your move to Colorado Springs and explore new construction options, Vantage Homes works with you to find a home that aligns with your budget, lifestyle, and long-term goals, helping you feel confident about where and how you live. Connect with us today to explore your options.
At a Glance: Is Colorado Springs Still Affordable in 2026?
- Colorado Springs cost of living is about 1% higher than the U.S. average.
- Housing costs are slightly above average, while utilities, transportation, and healthcare are below the national average.
- Median household income falls in the mid-$80,000s.
- Overall, affordability remains balanced for many households moving to Colorado.
