Median rent is 16% lower in Newark ($1,392/mo vs $1,648/mo). Buying is cheaper in Newark, where the median home runs $373,700 versus $452,600. Households earn more in Colorado Springs ($84,818 vs $52,060 a year). Taken together, Colorado Springs is the more affordable choice with a cost index of 98.1 against 112.6 — about 13% 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 13% cheaper overall
Cost of Living Index: 98.1 in Colorado Springs vs 112.6 in Newark (US national average = 100)
City A
Colorado Springs, CO
City B
Newark, NJ
How much would you need to earn in Newark, NJ to maintain your standard of living from Colorado Springs, CO?
Equivalent salary in Newark, NJ
$86,109
You'd need $11,109 more (15% higher).
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
Colorado Springs
Colorado
Newark
New Jersey
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 Newark at $1,392/mo compared to $1,648/mo in Colorado Springs (16% gap). Median home values are within 17% of each other: $452,600 in Colorado Springs and $373,700 in Newark.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
State tax data is not yet available for these cities.
Colorado Springs
Income tax: N/A
Sales tax: N/A
Newark
Income tax: N/A
Sales tax: N/A
Colorado Springs has cleaner air on average: 23.0 AQI (Good) compared to 46.0 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 112.6).
Pick Colorado Springs if you prioritize higher median household income ($84,818/yr).
Pick Newark if you prioritize cheaper rent ($1,392/mo median).
Pick Colorado Springs if you prioritize cleaner air quality (avg AQI 23.0).
Is Colorado Springs cheaper than Newark?
Colorado Springs is cheaper overall, with a cost of living index of 98.1 versus 112.6 (US average = 100). That means prices run about 13% lower in Colorado Springs.
How much is rent in Colorado Springs vs Newark?
Median rent is $1,648/mo in Colorado Springs, CO and $1,392/mo in Newark, NJ. Newark, NJ has the lower rent by about 16%.
Which has higher salaries — Colorado Springs or Newark?
Median household income is $84,818 in Colorado Springs, CO and $52,060 in Newark, NJ. 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: 23.0 AQI versus 46.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Colorado Springs or Newark?
State tax data is not yet available for one or both cities.
What salary do I need in Newark 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 $114,811 in Newark, NJ (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
