Salary & Cost of Living in Colorado Springs, CO
Colorado Springs, CO: $65,000 median salary, cost of living index 100, $14.81/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$65,000
$31/hr
Cost of Living
100
US avg = 100
Minimum Wage
$14.81
per hour
Unemployment
3.2%
rate
Colorado Springs, CO Overview
Population
478,961
Median Salary
$65,000
Average Salary
$72,000
Avg Commute
23 min
Median Home Price
$400,000
Median Rent
$1,450/mo
Job Growth
+2.2%
Sales Tax
8.63%
Colorado Springs is located in Colorado with a population of 478,961. The median household salary is $65,000 per year ($31/hour), which is $5,616 above the national median of $59,384. The average commute time is 23 minutes, and the city has a job growth rate of +2.2%.
Colorado Springs Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Colorado Springs, CO, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$51,254
$4,271.13/month · $1,971.29/biweekly · Effective Rate: 21.1%
Gross Pay
$65,000
Federal Tax
-$5,914
State Tax
-$2,860
Local Tax
$0
FICA
-$4,973
Net Pay
$51,254
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,416.67 | $65,000.00 |
| Federal Income Tax | -$492.83 | -$5,914.00 |
| Colorado State Tax (4.4%) | -$238.33 | -$2,860.00 |
| Social Security (6.2%) | -$335.83 | -$4,030.00 |
| Medicare (1.45%) | -$78.54 | -$942.50 |
| Net Take-Home Pay | $4,271.13 | $51,253.50 |
Salary Comparison: Colorado Springs vs Other Cities
See how Colorado Springs's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Colorado Springs, CO | $65,000 | 100 | $65,000 |
| National Average | $59,384 | 100 | $59,384 |
| Long Beach, CA | $65,000 | 148 | $43,919 |
| Oceanside, CA | $65,000 | 145 | $44,828 |
| Pembroke Pines, FL | $65,000 | 115 | $56,522 |
| Coral Springs, FL | $65,000 | 110 | $59,091 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Colorado Springs
Colorado Springs's cost of living index is 100 (national average = 100). Colorado Springs's cost of living matches the national average.
Median Home Price
$400,000
Median Monthly Rent
$1,450
Annual Rent Cost
$17,400
Your Salary's Purchasing Power
Your $51,254 annual take-home pay in Colorado Springs has the purchasing power of approximately $51,254 in an average-cost US area. Your $65,000 salary stretches further here than in most US cities.
Top Industries in Colorado Springs
Colorado Springs's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $65,000.
Salary Tips for Colorado Springs Workers
- Research top industries. Colorado Springs's top industries include Military, Technology, Tourism. Targeting roles in these sectors can help you earn above the $65,000 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
Compare salary data and cost of living for hundreds of US cities. Find out where your paycheck goes the furthest.
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Frequently Asked Questions
What is the median salary in Colorado Springs, CO?
The median salary in Colorado Springs, CO is $65,000 per year, or $31 per hour. The average salary is $72,000. This is $5,616 above the national median of $59,384.
What is the cost of living in Colorado Springs, CO?
Colorado Springs's cost of living index is 100 (national average = 100), meaning it is equal to the cost of living compared to the national average. The median home price is $400,000 and the median monthly rent is $1,450.
What are the best industries in Colorado Springs?
The top industries in Colorado Springs, CO include Military, Technology, Tourism. The city has a job growth rate of 2.2% and an unemployment rate of 3.2%. Workers in these industries often earn above the city's median salary of $65,000.
How does Colorado Springs's salary compare to other cities?
Colorado Springs's median salary of $65,000 is 9.5% above the national median of $59,384. However, when adjusted for cost of living (index: 100), the real purchasing power is approximately $65,000.
What is the minimum wage in Colorado Springs, CO?
The minimum wage in Colorado Springs, CO is $14.81 per hour. This equals approximately $30,805 per year for a full-time worker (40 hours/week). This is $7.56 above the federal minimum wage of $7.25/hour.