Finding Comfort: Determining the Income Needed to Live Well in Colorado Springs

Colorado Springs, with its stunning mountain vistas, outdoor recreation opportunities, and vibrant community, is an attractive place to call home. However, like many cities across the United States, the cost of living here can vary significantly. For those considering a move or already residing in this beautiful city, a key question often arises: How much do you need to make per year to live comfortably in Colorado Springs?

To answer this question effectively, we need to delve into several factors that influence the cost of living, including housing, transportation, healthcare, utilities, groceries, and discretionary spending. Each of these elements plays a crucial role in shaping the financial requirements for a comfortable lifestyle in Colorado Springs.

Housing Costs

One of the most significant contributors to the cost of living is housing. In Colorado Springs, the housing market has seen notable appreciation in recent years. The median home price is above the national average but remains more affordable compared to larger cities like Denver or Boulder.

As of [current year], the median home price in Colorado Springs is approximately $400,000. However, this figure can vary widely based on the neighborhood and property type. Renters can expect to pay around $1,400 per month for a typical two-bedroom apartment. To comfortably afford housing in this city, financial advisors often recommend that housing expenses should not exceed 30% of your gross income.

To afford a mortgage or rent payments in Colorado Springs without feeling financially strained, a household income of at least $60,000 to $80,000 per year is advisable. This income level provides room for other essential expenses and savings.


Transportation costs can also impact the overall cost of living. Colorado Springs is a car-dependent city, and most residents rely on their vehicles for daily commuting. Gas prices, maintenance, insurance, and registration fees should be factored into the budget.

The average annual cost of owning and operating a vehicle can range from $6,000 to $9,000 depending on usage and vehicle type. Additionally, public transportation options are available but may not be as extensive as in larger metropolitan areas.

Healthcare and Other Essentials

Healthcare expenses, including insurance premiums, co-pays, and prescriptions, are another essential consideration. Colorado Springs benefits from a robust healthcare system, with several hospitals and medical facilities serving the community. The cost of healthcare can vary based on individual needs and insurance coverage.

Other essential expenses to consider include utilities (electricity, water, heating), groceries, childcare (if applicable), and miscellaneous costs. These can add up to several thousand dollars per year.

Discretionary Spending

Living comfortably also involves budgeting for discretionary spending, including dining out, entertainment, travel, and savings for retirement or emergencies. Colorado Springs offers a plethora of outdoor activities, cultural events, and dining options that enrich the quality of life but also require financial resources.

Calculating the Comfortable Income

To calculate the income needed for a comfortable lifestyle in Colorado Springs, let’s consider a sample budget breakdown:

  • Housing (rent/mortgage): $1,400 per month = $16,800 per year
  • Transportation: $7,500 per year (average)
  • Healthcare: $5,000 per year (average)
  • Utilities and other essentials: $4,000 per year (average)
  • Discretionary spending: $5,000 per year (average)

Total Estimated Annual Expenses: $38,300

To live comfortably and cover these expenses without financial strain, a household income of approximately $60,000 to $80,000 per year is recommended. This income range allows for flexibility in budgeting, savings, and discretionary spending.


In conclusion, determining the income needed to live comfortably in Colorado Springs requires a comprehensive understanding of the city’s cost of living and individual lifestyle preferences. While the figures presented here serve as a general guideline, personal circumstances and financial goals will ultimately shape the ideal income level.

It’s essential for individuals and families considering a move to Colorado Springs or evaluating their current financial situation to conduct detailed budgeting and research. Consulting with financial advisors and local experts can provide valuable insights into managing expenses and achieving financial stability in this dynamic city.

Living comfortably in Colorado Springs is not solely about meeting basic needs but also about enjoying the natural beauty, community spirit, and diverse opportunities this city offers. With careful planning and a realistic financial approach, residents can thrive and find true comfort in this picturesque corner of Colorado.

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