Median rent is 12% lower in Colorado Springs ($1,562/mo vs $1,779/mo). Buying is cheaper in Colorado Springs, where the median home runs $420,700 versus $751,700. Households earn more in Colorado Springs ($83,198 vs $79,713 a year). Taken together, Colorado Springs is the more affordable choice with a cost index of 96.8 against 113.0 — about 14% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Colorado Springs, CO.
Quick verdict
Colorado Springs is 14% cheaper overall
Cost index: 96.8 in Colorado Springs vs 113.0 in New York (US average = 100)
City A
Colorado Springs, CO
City B
New York, NY
How much would you need to earn in New York, NY to maintain your standard of living from Colorado Springs, CO?
Equivalent salary in New York, NY
$87,507
You'd need $12,507 more (17% higher).
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
Colorado Springs
Colorado
New York
New York
👥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 $1,779/mo in New York (12% gap). Home buyers face a steeper market in New York: the median home is $751,700 versus $420,700 in Colorado Springs — 44% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Colorado's top income tax rate is 4.40% versus 10.90% in New York, so Colorado Springs is more tax-friendly for high earners. Sales tax is 2.90% in Colorado and 4.00% in New York; Colorado Springs has the lower rate (local add-ons may apply in both).
Colorado Springs
Income tax: 4.40%
Sales tax: 2.90%
New York
Income tax: 10.90%
Sales tax: 4.00%
Colorado Springs has cleaner air on average: 34.0 AQI (Good) compared to 61.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick Colorado Springs if you prioritize lower overall cost of living (index 96.8 vs 113.0).
Pick Colorado Springs if you prioritize cheaper rent ($1,562/mo median).
Pick Colorado Springs if you prioritize cleaner air quality (avg AQI 34.0).
Pick Colorado Springs if you prioritize lower state income tax (4.40%).
Is Colorado Springs cheaper than New York?
Colorado Springs is cheaper overall, with a cost of living index of 96.8 versus 113.0 (US average = 100). That means prices run about 14% lower in Colorado Springs.
How much is rent in Colorado Springs vs New York?
Median rent is $1,562/mo in Colorado Springs, CO and $1,779/mo in New York, NY. Colorado Springs, CO has the lower rent by about 12%.
Which has higher salaries — Colorado Springs or New York?
Median household income is $83,198 in Colorado Springs, CO and $79,713 in New York, NY. Colorado Springs, CO 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 61.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Colorado Springs or New York?
Colorado's top income tax rate is 4.40% and New York's is 10.90%. Colorado Springs, CO has the lower rate.
What salary do I need in New York to match my Colorado Springs income?
To maintain the same purchasing power, a salary of $100,000 in Colorado Springs, CO is equivalent to roughly $116,676 in New York, NY (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