Is Minneapolis, MN cheaper than Colorado Springs, CO?

Based on cost of living data, Minneapolis, MN is 4.9% more expensive than Colorado Springs, CO. This translates to spending an extra $364 per month.

What salary do I need in Minneapolis, MN to live like I do in Colorado Springs, CO?

If you earn $150,000 in Colorado Springs, CO, you'd need approximately $154,368.932 in Minneapolis, MN to maintain the same standard of living.

How does housing cost compare between Colorado Springs, CO and Minneapolis, MN?

Housing in Minneapolis, MN is 1.8% cheaper than in Colorado Springs, CO. For a two-bedroom apartment, rent is $1,700/month in Minneapolis, MN compared to $1,800/month in Colorado Springs, CO.

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

Living in Minneapolis, MN costs approximately $364 more per month than Colorado Springs, CO, or $4369 more per year, based on a $150,000 salary.

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Colorado Springs, CO

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Minneapolis, MN

Cost of Living Comparison 2026

Current salary in Colorado Springs, CO

Numbers update automatically as you type

You'd spend $364/month more in Minneapolis, MN

$150.0K in your current city equals $154.4K in Minneapolis, MN

Rent data from HUD ZIP-level estimates · COL index from Colorado Springs, CO area

Overall Cost

↑ 4.9%

More expensive

Monthly Impact

$364

Extra cost

Annual Impact

$4.4K

Per year

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

Colorado Springs, CO

Population:479K

Cost Index:100

Median Home:$415K

Minneapolis, MN

Population:430K

Cost Index:105

Median Home:$308K

Colorado Springs, CO

The Centennial State

479K

Population

State Tax

Yes

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

Minneapolis, MN

The North Star State

430K

Population

State Tax

Yes

Located in Minnesota, this city has a population of 430K residents.

Cost Breakdown by Category

Annual spending: Colorado Springs, CO vs Minneapolis, MN

Category	Colorado Springs, CO	Minneapolis, MN	Difference	Change
🏥Healthcare	$626/mo	$756/mo	↑ $130more	20.8%
🚗Transportation	$1,270/mo	$1,380/mo	↑ $109more	8.6%
⚡All Utilities	$454/mo	$508/mo	↑ $54.64more	12.0%
🏠Housing	$2,859/mo	$2,807/mo	↓ $51.97less	1.8%
🛒Groceries	$999/mo	$1,029/mo	↑ $29.98more	3.0%
📦Other	$1,791/mo	$1,774/mo	↓ $16.74less	0.9%

🏥Healthcare

↑ 20.8%

Colorado Springs, CO

$626

Minneapolis, MN

$756

Difference

$130

🚗Transportation

↑ 8.6%

Colorado Springs, CO

$1,270

Minneapolis, MN

$1,380

Difference

$109

⚡All Utilities

↑ 12.0%

Colorado Springs, CO

$454

Minneapolis, MN

$508

Difference

$54.64

🏠Housing

↓ 1.8%

Colorado Springs, CO

$2,859

Minneapolis, MN

$2,807

Difference

$51.97

less

🛒Groceries

↑ 3.0%

Colorado Springs, CO

$999

Minneapolis, MN

$1,029

Difference

$29.98

📦Other

↓ 0.9%

Colorado Springs, CO

$1,791

Minneapolis, MN

$1,774

Difference

$16.74

less

🏠Rent Comparison

Studio

From$1,240

To$1,240

→ $0

1 Bed

From$1,520

To$1,400

↓ $120

2 Bed

From$1,800

To$1,700

↓ $100

3 Bed

From$2,505

To$2,250

↓ $255

Colorado Springs, COZIP-level data

1BR range: $1,210–$2,050/mo

Minneapolis, MNZIP-level data

1BR range: $1,250–$2,100/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.

$7,999

Monthly in Colorado Springs, CO

$8,254

Monthly in Minneapolis, MN

$255

Difference

Home Values

Colorado Springs

Minneapolis

$415K

Median Value

$308K

↓ -2.2%

YoY Change

↑ +1%

↑ +22.4%

5-Year Change

↑ +8.2%

$314K - $709K

Price Range

$152K - $469K

Homes in Minneapolis are 26% less expensive than Colorado Springs

Calculate payment - Colorado Springs Calculate payment - Minneapolis

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

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↓ $3.8K

More taxes

Monthly Difference

$319

Less take-home

Effective Rate Diff

2.6%

Rate difference

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

Minneapolis, MN

Federal Income Tax

Effective: 18.9%

$25.5K

Minnesota State Tax

Effective: 7.0%

$10.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 31.6%

$47.4K

Take-Home Pay

$8,546/month

$102.6K

Additional Tax Information

Colorado Springs, CO Tax Rates

Sales Tax:7.8%

Property Tax:0.5%

Minneapolis, MN Tax Rates

Sales Tax:8.0%

Property Tax:1.1%

💡 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.