Is Colorado Springs, CO cheaper than Chicago, IL?

Based on cost of living data, Colorado Springs, CO is 4.7% cheaper than Chicago, IL. This translates to saving $354 per month.

What salary do I need in Colorado Springs, CO to live like I do in Chicago, IL?

If you earn $150,000 in Chicago, IL, you'd need approximately $145,753.932 in Colorado Springs, CO to maintain the same standard of living.

How does housing cost compare between Chicago, IL and Colorado Springs, CO?

Housing in Colorado Springs, CO is 6.8% cheaper than in Chicago, IL. For a two-bedroom apartment, rent is $1,800/month in Colorado Springs, CO compared to $1,925/month in Chicago, IL.

How much can I save per month by moving from Chicago, IL to Colorado Springs, CO?

Moving from Chicago, IL to Colorado Springs, CO could save you approximately $354 per month, or $4246 per year, based on a $150,000 salary.

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Chicago, IL

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Colorado Springs, CO

Cost of Living Comparison 2026

Current salary in Chicago, IL

Numbers update automatically as you type

You'd save $354/month moving to Colorado Springs, CO

$150.0K in your current city equals $145.8K in Colorado Springs, CO

Rent data from HUD ZIP-level estimates · COL index from Chicago-Naperville-Elgin, IL-IN-WI area

Overall Cost

↓ 4.7%

Less expensive

Monthly Impact

$354

Savings

Annual Impact

$4.2K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Chicago, IL

Population:2746K

Cost Index:100

Median Home:$305K

Colorado Springs, CO

Population:479K

Cost Index:95

Median Home:$415K

Chicago, IL

The Prairie State

2.7M

Population

State Tax

Yes

Climate

Continental

Notable Facts

•Major transportation hub
•Architectural landmark city
•Great Lakes location

Major Industries

FinanceTechnologyManufacturingTransportation

Colorado Springs, CO

The Centennial State

479K

Population

State Tax

Yes

Located in Colorado, this city has a population of 479K residents.

Cost Breakdown by Category

Annual spending: Chicago, IL vs Colorado Springs, CO

Category	Chicago, IL	Colorado Springs, CO	Difference	Change
🚗Transportation	$1,680/mo	$1,270/mo	↓ $410less	24.4%
🏠Housing	$3,066/mo	$2,859/mo	↓ $208less	6.8%
⚡All Utilities	$519/mo	$454/mo	↓ $65.57less	12.6%
📦Other	$1,758/mo	$1,791/mo	↑ $33.48more	1.9%
🏥Healthcare	$595/mo	$626/mo	↑ $30.98more	5.2%
🛒Groceries	$1,029/mo	$999/mo	↓ $29.98less	2.9%

🚗Transportation

↓ 24.4%

Chicago, IL

$1,680

Colorado Springs, CO

$1,270

Difference

$410

less

🏠Housing

↓ 6.8%

Chicago, IL

$3,066

Colorado Springs, CO

$2,859

Difference

$208

less

⚡All Utilities

↓ 12.6%

Chicago, IL

$519

Colorado Springs, CO

$454

Difference

$65.57

less

📦Other

↑ 1.9%

Chicago, IL

$1,758

Colorado Springs, CO

$1,791

Difference

$33.48

🏥Healthcare

↑ 5.2%

Chicago, IL

$595

Colorado Springs, CO

$626

Difference

$30.98

🛒Groceries

↓ 2.9%

Chicago, IL

$1,029

Colorado Springs, CO

$999

Difference

$29.98

less

🏠Rent Comparison

Studio

From$1,600

To$1,240

↓ $360

1 Bed

From$1,710

To$1,520

↓ $190

2 Bed

From$1,925

To$1,800

↓ $125

3 Bed

From$2,480

To$2,505

↑ $25.00

Chicago, ILZIP-level data

1BR range: $1,140–$2,370/mo

Colorado Springs, COZIP-level data

1BR range: $1,210–$2,050/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$8,648

Monthly in Chicago, IL

$7,999

Monthly in Colorado Springs, CO

$649

Difference

Home Values

Chicago

Colorado Springs

$305K

Median Value

$415K

↑ +1.8%

YoY Change

↓ -2.2%

↑ +10.2%

5-Year Change

↑ +22.4%

$116K - $611K

Price Range

$314K - $709K

Homes in Colorado Springs are 36% more expensive than Chicago

Calculate payment - Chicago Calculate payment - Colorado Springs

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $825

Per year

Monthly Difference

$68.75

More take-home

Effective Rate Diff

0.6%

Rate difference

Chicago, IL

Federal Income Tax

Effective: 18.9%

$25.5K

Illinois State Tax

Effective: 5.0%

$7.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.6%

$44.4K

Take-Home Pay

$8,797/month

$105.6K

Colorado Springs, CO

Federal Income Tax

Effective: 18.9%

$25.5K

Colorado State Tax

Effective: 4.4%

$6.6K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.1%

$43.6K

Take-Home Pay

$8,866/month

$106.4K

Additional Tax Information

Chicago, IL Tax Rates

Sales Tax:8.8%

Property Tax:2.2%

Colorado Springs, CO Tax Rates

Sales Tax:7.8%

Property Tax:0.5%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.