Cost of Living in Colorado Springs: A Comprehensive Guide for 2023

So, you're thinking about moving to Colorado Springs and wondering if you can live comfortably on a budget of around $40,000 a year? The answer is a resounding yes! As a current resident, I'm here to give you a realistic idea of what to expect when living in Colorado Springs.

Housing in Colorado Springs

Even though I work as a realtor in Colorado Springs, I also live as a renter. It may sound unusual, but it's a setup that fits my lifestyle. I pay $1,400 a month for my half of a duplex, and share utility costs with my upstairs neighbor.

Utilities in Colorado Springs

Living in Colorado Springs means adapting to the climate, and that includes utility costs. My monthly utilities, which include gas, electric, and water, come to about $100. During the winter months, particularly in March, utilities tend to go up because of increased heating usage. March is actually the coldest month of the year here, so my utilities might hit $150, but it's really not that bad. So, all in all, my total living cost is about $1,500 to $1,550.

Transportation in Colorado Springs

One thing to note when moving to Colorado Springs is the cost of gas. As of now, it's around $3.60 to $3.70 per gallon, which sounds cheap compared to last year when we hit over five dollars a gallon. I spend about $120 a week on gas, so right around $500 a month. I do drive around a lot, so your cost might be lower if you drive less.

Groceries in Colorado Springs

One of the joys of living in Colorado Springs is the abundance of fresh produce in the summer. Farmers markets are in full swing, and I've been hitting them up every week for my groceries. I can get a bag of vegetables for ten dollars and usually spend 30 or 40 bucks at the farmers market. I'm not someone who dines out a lot. I cook pretty much everything I eat, so three meals a day cost me around $120 per week.

Miscellaneous Expenses in Colorado Springs

Aside from the essentials, I probably spend a thousand bucks a month on miscellaneous stuff like outdoor gear from REI, some other fun stuff at the farmer's market, or if I visit a mountain town on the weekends.

Conclusion

All in all, I live pretty comfortably in Colorado Springs for around $3,500 a month. If you're making forty thousand dollars a year, you can live here and still be pretty comfortable. I did get really lucky with the place that I'm renting, as I'm definitely renting below market value. But there are pretty affordable places to live here, especially if you're just testing the waters.

While it's true that the cost of living in Colorado Springs is above the national average, it's only by a percentage point or two. For me, making the amount of money that I do, I'm able to live pretty comfortably without having to sacrifice a whole lot.

That's my cost of living breakdown for Colorado Springs as of 2023. We'll see where that goes - it might go up next year, who knows? But that's where I'm at right now.