Cost of Living in Colorado Springs, CO

How far does a $70,000 salary go in Colorado Springs? Estimated income taxes on that gross salary total approximately $9,679 per year — combining federal taxes with Colorado's state income tax. Subtract rent for a 2-bedroom apartment ($1,735/month based on HUD Fair Market Rents for the Colorado Springs metro area) and the estimated annual take-home is $39,501, or roughly $3,292 per month for everything else: food, transportation, savings, and discretionary spending.

The Colorado Springs metro has a cost of living index of 123.2 according to the Bureau of Economic Analysis Regional Price Parities (national average = 100). At 23% above average, Colorado Springs is a noticeably expensive metro — groceries, services, and everyday purchases cost more than in most of the country.

At a $70,000 salary, the estimated 2-bedroom rent in Colorado Springs represents approximately 30% of gross income. That exceeds the conventional 30% guideline, meaning housing takes a significant share of the budget at this income level.