Median rent is 13% lower in Chicago ($1,440/mo vs $1,648/mo). Buying is cheaper in Chicago, where the median home runs $334,100 versus $452,600. Households earn more in Colorado Springs ($84,818 vs $77,902 a year). Taken together, Colorado Springs is the more affordable choice with a cost index of 98.1 against 102.5 — about 4% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Colorado Springs, CO.
Cost of living verdict
Colorado Springs is 4% cheaper overall
Cost of Living Index: 98.1 in Colorado Springs vs 102.5 in Chicago (US national average = 100)
City A
Chicago, IL
City B
Colorado Springs, CO
How much would you need to earn in Colorado Springs, CO to maintain your standard of living from Chicago, IL?
Equivalent salary in Colorado Springs, CO
$71,800
You could earn $3,200 less (4% lower) and break even.
Based on BEA Regional Price Parity (cost index) for each metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
Metric
Chicago
Illinois
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: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Median rent is modestly lower in Chicago at $1,440/mo compared to $1,648/mo in Colorado Springs (13% gap). Home buyers face a steeper market in Colorado Springs: the median home is $452,600 versus $334,100 in Chicago — 26% more expensive.
Metric
Chicago
Colorado Springs
Software Developer
Registered Nurse
Elementary Teacher
Electrician
Accountant
Higher wage highlighted · BLS OEWS 2023 (metro-level data)
State tax data is not yet available for these cities.
Chicago
Income tax: N/A
Sales tax: N/A
Colorado Springs
Income tax: N/A
Sales tax: N/A
Colorado Springs has cleaner air on average: 23.0 AQI (Good) compared to 31.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Colorado Springs if you prioritize lower overall cost of living (index 98.1 vs 102.5).
Pick Colorado Springs if you prioritize higher median household income ($84,818/yr).
Pick Chicago if you prioritize cheaper rent ($1,440/mo median).
Pick Colorado Springs if you prioritize cleaner air quality (avg AQI 23.0).
Colorado Springs is cheaper overall, with a cost of living index of 98.1 versus 102.5 (US average = 100). That means prices run about 4% lower in Colorado Springs.
Median rent is $1,440/mo in Chicago, IL and $1,648/mo in Colorado Springs, CO. Chicago, IL has the lower rent by about 13%.
Median household income is $77,902 in Chicago, IL and $84,818 in Colorado Springs, CO. Colorado Springs, CO has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Colorado Springs, CO has better air quality on average: 23.0 AQI versus 31.0 AQI. Both are EPA AirNow annual averages; lower is better.
State tax data is not yet available for one or both cities.
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $95,733 in Colorado Springs, CO (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
