Is Colorado Springs, CO cheaper than Minneapolis, MN?

Based on cost of living data, Colorado Springs, CO is 4.6% cheaper than Minneapolis, MN. This translates to saving $347 per month.

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

If you earn $150,000 in Minneapolis, MN, you'd need approximately $145,833.333 in Colorado Springs, CO to maintain the same standard of living.

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

Housing in Colorado Springs, CO is 1.9% more expensive than in Minneapolis, MN. For a two-bedroom apartment, rent is $1,800/month in Colorado Springs, CO compared to $1,700/month in Minneapolis, MN.

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

Moving from Minneapolis, MN to Colorado Springs, CO could save you approximately $347 per month, or $4167 per year, based on a $150,000 salary.

MoveNumbers

Minneapolis, MN

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Colorado Springs, CO

Cost of Living Comparison 2026

Current salary in Minneapolis, MN

Numbers update automatically as you type

You'd save $347/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 Minneapolis-St. Paul-Bloomington, MN-WI area

Overall Cost

↓ 4.6%

Less expensive

Monthly Impact

$347

Savings

Annual Impact

$4.2K

Per year

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

Minneapolis, MN

Population:430K

Cost Index:100

Median Home:$308K

Colorado Springs, CO

Population:479K

Cost Index:95

Median Home:$415K

Minneapolis, MN

The North Star State

430K

Population

State Tax

Yes

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

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: Minneapolis, MN vs Colorado Springs, CO

Category	Minneapolis, MN	Colorado Springs, CO	Difference	Change
🏥Healthcare	$756/mo	$626/mo	↓ $130less	17.2%
🚗Transportation	$1,380/mo	$1,270/mo	↓ $109less	7.9%
⚡All Utilities	$508/mo	$454/mo	↓ $54.64less	10.8%
🏠Housing	$2,807/mo	$2,859/mo	↑ $51.97more	1.9%
🛒Groceries	$1,029/mo	$999/mo	↓ $29.98less	2.9%
📦Other	$1,774/mo	$1,791/mo	↑ $16.74more	0.9%

🏥Healthcare

↓ 17.2%

Minneapolis, MN

$756

Colorado Springs, CO

$626

Difference

$130

less

🚗Transportation

↓ 7.9%

Minneapolis, MN

$1,380

Colorado Springs, CO

$1,270

Difference

$109

less

⚡All Utilities

↓ 10.8%

Minneapolis, MN

$508

Colorado Springs, CO

$454

Difference

$54.64

less

🏠Housing

↑ 1.9%

Minneapolis, MN

$2,807

Colorado Springs, CO

$2,859

Difference

$51.97

🛒Groceries

↓ 2.9%

Minneapolis, MN

$1,029

Colorado Springs, CO

$999

Difference

$29.98

less

📦Other

↑ 0.9%

Minneapolis, MN

$1,774

Colorado Springs, CO

$1,791

Difference

$16.74

🏠Rent Comparison

Studio

From$1,240

To$1,240

→ $0

1 Bed

From$1,400

To$1,520

↑ $120

2 Bed

From$1,700

To$1,800

↑ $100

3 Bed

From$2,250

To$2,505

↑ $255

Minneapolis, MNZIP-level data

1BR range: $1,250–$2,100/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.

$8,254

Monthly in Minneapolis, MN

$7,999

Monthly in Colorado Springs, CO

$255

Difference

Home Values

Minneapolis

Colorado Springs

$308K

Median Value

$415K

↑ +1%

YoY Change

↓ -2.2%

↑ +8.2%

5-Year Change

↑ +22.4%

$152K - $469K

Price Range

$314K - $709K

Homes in Colorado Springs are 35% more expensive than Minneapolis

Calculate payment - Minneapolis Calculate payment - Colorado Springs

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

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $3.8K

Per year

Monthly Difference

$319

More take-home

Effective Rate Diff

2.6%

Rate difference

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

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

Minneapolis, MN Tax Rates

Sales Tax:8.0%

Property Tax:1.1%

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.