Median rent is 6% lower in Colorado Springs ($1,562/mo vs $1,655/mo). Buying is cheaper in Colorado Springs, where the median home runs $420,700 versus $512,700. Households earn more in Austin ($91,461 vs $83,198 a year). Taken together, Colorado Springs is the more affordable choice with a cost index of 96.8 against 98.8 — about 2% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Austin, TX.
Quick verdict
Colorado Springs is 2% cheaper overall
Cost index: 96.8 in Colorado Springs vs 98.8 in Austin (US average = 100)
City A
Austin, TX
City B
Colorado Springs, CO
How much would you need to earn in Colorado Springs, CO to maintain your standard of living from Austin, TX?
Equivalent salary in Colorado Springs, CO
$73,503
You could earn $1,497 less (2% lower) and break even.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Austin
Texas
Colorado Springs
Colorado
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Colorado Springs at $1,562/mo compared to $1,655/mo in Austin (6% gap). Median home values are within 18% of each other: $512,700 in Austin and $420,700 in Colorado Springs.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Texas has no state income tax, while Colorado tops out at 4.40% — giving Austin a clear advantage for high earners. Sales tax is 6.25% in Texas and 2.90% in Colorado; Colorado Springs has the lower rate (local add-ons may apply in both).
Austin
Income tax: None
Sales tax: 6.25%
Colorado Springs
Income tax: 4.40%
Sales tax: 2.90%
Colorado Springs has cleaner air on average: 34.0 AQI (Good) compared to 47.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Austin if you prioritize higher median household income ($91,461/yr).
Pick Colorado Springs if you prioritize cleaner air quality (avg AQI 34.0).
Pick Austin if you prioritize no state income tax.
Is Austin cheaper than Colorado Springs?
Colorado Springs is cheaper overall, with a cost of living index of 96.8 versus 98.8 (US average = 100). That means prices run about 2% lower in Colorado Springs.
How much is rent in Austin vs Colorado Springs?
Median rent is $1,655/mo in Austin, TX and $1,562/mo in Colorado Springs, CO. Colorado Springs, CO has the lower rent by about 6%.
Which has higher salaries — Austin or Colorado Springs?
Median household income is $91,461 in Austin, TX and $83,198 in Colorado Springs, CO. Austin, TX has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Colorado Springs, CO has better air quality on average: 34.0 AQI versus 47.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Austin or Colorado Springs?
Texas has no state income tax. Colorado has a top rate of 4.40%.
What salary do I need in Colorado Springs to match my Austin income?
To maintain the same purchasing power, a salary of $100,000 in Austin, TX is equivalent to roughly $98,004 in Colorado Springs, CO (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology