How Much Do You Need to Earn to Live in Colorado Springs, CO?
To afford the average apartment in Colorado Springs, you need to earn $69,600/year for a 2-bedroom or $58,000/year for a 1-bedroom under the 30% rule. This comprehensive guide breaks down exactly what it costs to live here, who can afford it, and how to stretch your budget further.
Real Estate Economics Analyst
MBA, Real Estate Finance
Published: March 2026
Learn more about AmandaAffordability Overview: Colorado Springs
Colorado Springs has become one of the most attractive mid-size metros in the Mountain West. It offers 300 days of sunshine, proximity to Pikes Peak and Garden of the Gods, and rents 15-25% below Denver. The military is the largest employer, creating a stable economic base that's supplemented by growing cybersecurity, aerospace, and tech sectors. For outdoor enthusiasts and military families seeking Colorado living without Denver prices, the Springs delivers excellent value with all the mountain-lifestyle benefits.
The median household in Colorado Springs earns $72,331 per year, or roughly $6,028/month before taxes. Under the 30% rule, that income supports a maximum rent of $1,808/month. This is enough to cover the average 2-bedroom apartment at $1,740/month, making Colorado Springs relatively manageable for typical households.
Income Required by Apartment Size
Based on the 30% rule: spend no more than 30% of gross income on rent. Green indicates the median household income ($72,331/yr) can cover it.
| Type | Monthly Rent | Monthly Income Needed | Annual Salary Needed | Median Can Afford? |
|---|---|---|---|---|
| Studio | $1,233/mo | $4,110/mo | $49,320/yr | Yes |
| 1-Bedroom | $1,450/mo | $4,833/mo | $58,000/yr | Yes |
| 2-Bedroom | $1,740/mo | $5,800/mo | $69,600/yr | Yes |
| 3-Bedroom | $2,248/mo | $7,493/mo | $89,920/yr | No |
| 4-Bedroom+ | $2,755/mo | $9,183/mo | $110,200/yr | No |
Income requirements calculated as: (monthly rent / 0.30) x 12. “Median Can Afford” is based on the local median household income of $72,331/year.
Monthly Budget Breakdown: Living in Colorado Springs
What a typical month costs for a 2-bedroom renter, compared to the national average. Costs adjusted using city-specific multipliers from BLS data.
| Expense | Colorado Springs | National Avg | Difference |
|---|---|---|---|
| Rent (2BR) | $1,740 | $1,375 | +$365 (+27%) |
| Utilities | $190 | $200 | $-10 (-5%) |
| Groceries | $450 | $450 | $0 (0%) |
| Transportation | $333 | $350 | $-17 (-5%) |
| Healthcare | $285 | $300 | $-15 (-5%) |
| Savings (10%) | $603 | $625 | $-22 (-4%) |
| Total Monthly | $3,601 | $3,300 | +$301 |
Colorado Springs offers a Denver-like outdoor lifestyle at notably lower costs. The heavy military presence (five military installations) stabilizes the economy and creates predictable rental demand. Moderate income tax, below-average utilities (thanks to sunny weather reducing heating/cooling needs), and access to free outdoor recreation (Garden of the Gods, Pikes Peak, extensive trail system) keep living costs manageable. The tech sector is growing as companies seek Denver alternatives.
Rent Burden Analysis
In Colorado Springs, the median household spends approximately 24.1% of gross income on rent for a 1-bedroom apartment. This is 7.4 percentage points below the national average of 31.5%.
Colorado Springs households are in a relatively comfortable position regarding housing costs. The typical renter has enough income left after rent for savings, healthcare, and other essentials without significant strain.
For a 2-bedroom apartment at $1,740/month, a household would need to earn at least $69,600/year to stay at or below the 30% threshold. The local median income of $72,331 exceeds this requirement.
Who Can Afford to Live in Colorado Springs?
A profession-by-profession breakdown based on local salary data and current rent prices.
Software Engineer
Cybersecurity Professional
Teacher
Military (E-6)
Most Affordable Neighborhoods in Colorado Springs
These neighborhoods offer rents significantly below the Colorado Springs average while maintaining access to jobs and amenities. Rents here are typically 20-40% below the metro average.
Money-Saving Tips for Colorado Springs Renters
Practical strategies specific to the Colorado Springs rental market, not generic advice.
Southeast Colorado Springs and Security-Widefield offer rents 20-30% below the Broadmoor area or downtown.
Military families at Fort Carson, Peterson SFB, and USAFA have extensive housing options.
Colorado's flat 4.4% income tax is competitive with neighboring states.
The Springs offers much of Denver's outdoor lifestyle at 15-25% lower rents.
Fountain and Pueblo offer even greater savings for those willing to commute.
Economic Context: Colorado Springs Job Market
Major Employers
Average Salaries by Profession
| Profession | Avg Salary | Max Rent (30%) | Afford 2BR? |
|---|---|---|---|
| Cybersecurity Professional | $90,000 | $2,250/mo | Yes |
| Software Engineer | $105,000 | $2,625/mo | Yes |
| Registered Nurse | $70,000 | $1,750/mo | Yes |
| Teacher | $48,000 | $1,200/mo | No |
| Military (E-6) | $48,000 | $1,200/mo | No |
Salaries based on local market data. “Max Rent” = salary / 12 x 0.30. “Afford 2BR?” compares max rent to the Colorado Springs average 2BR of $1,740/mo.
Nearby More Affordable Alternatives
If Colorado Springs stretches your budget, these nearby metros offer lower rents while keeping you in the same region.
Frequently Asked Questions: Colorado Springs Affordability
What salary do I need to afford a 1-bedroom apartment in Colorado Springs?
To afford the average 1-bedroom apartment in Colorado Springs, CO at $1,450/month, you need an annual income of approximately $58,000 based on the 30% rule (spending no more than 30% of gross income on rent). The median household income in Colorado Springs is $72,331, which is sufficient to afford a 1-bedroom at market rates.
What percentage of income do renters spend on housing in Colorado Springs?
The average renter in Colorado Springs, CO spends approximately 24.1% of household income on rent, below the national average of 31.5%. This places Colorado Springs in a relatively favorable position for renters compared to many US metros.
What is the most affordable bedroom type in Colorado Springs?
Studios are the most affordable option in Colorado Springs, CO, requiring an annual income of approximately $49,320 to afford comfortably. The median household income of $72,331 can cover a studio within the 30% guideline.
What does a monthly budget look like in Colorado Springs?
A typical monthly budget for a 1-bedroom renter in Colorado Springs, CO includes: rent ($1,450), utilities ($190), groceries ($450), transportation ($333), healthcare ($285), and savings ($603), totaling approximately $3,311/month.
Is Colorado Springs affordable compared to the national average?
Colorado Springs is rated "affordable" with an affordability score of 60/100. The city offers better-than-average affordability, with rents that are manageable for most working households.
What are the most affordable neighborhoods in Colorado Springs?
The most affordable neighborhoods in the Colorado Springs, CO metro include Southeast Colorado Springs, Security-Widefield, Fountain, Cimarron Hills, Stratmoor. These areas typically offer rents 20-40% below the city average while still providing access to employment centers and amenities.
Can a software engineer afford to live in Colorado Springs?
A software engineer earning approximately $105,000/year in Colorado Springs can typically afford: A 2-bedroom anywhere in Colorado Springs including downtown. The main challenge would be: Only the most premium Broadmoor-area properties.
Related Colorado Springs Resources
Data sources: HUD Fair Market Rents (2026), U.S. Census Bureau American Community Survey (median household income: $72,331 for Colorado Springs, CO), BLS Consumer Expenditure Survey (cost-of-living adjustments). Fair Market Rent represents the 40th percentile of gross rents for typical, non-luxury apartments. Actual rents vary by neighborhood, amenities, and market conditions. Last updated: March 2026.
Colorado Springs Quick Stats
Income Needed by Size
Other Colorado Cities
Find What You Can Afford
Enter your income to see exactly what apartment you can afford in Colorado Springs.
Calculate Now