Living in Colorado Springs // Cost of Living

Living in Colorado Springs isn't all about living on the edge of a mountain sitting around getting high all day and convincing yourself that you will one day get used to the new traffic. In fact, living in this town can be and has been quite pleasant. You just have to know what to do and where to go here. Luckily, that's why I'm here: to help you live in Colorado Springs, living the Pikes Peak Dream.

If you're planning on moving to Colorado Springs, chances are high that you have a job lined up here or working on having a job lined up here. If this is the case, then you probably need to know where your money's going because living in Colorado Springs can be quite expensive. The housing prices have been going up slowly – but surely – over the years, with the average home price being around $500,000, living in Colorado Springs might be more expensive than where you currently live. However, living in Colorado Springs can actually be cheaper than where you currently live, too! It’s all about perspective. If you have the money, living here can actually be amazing.


Traffic in Colorado Springs

But before we dive into the details on the costs here, let’s talk about getting around the construction and traffic. Everyone living in Colorado Springs knows about the constant construction on Interstate 25. It's bad, but it hasn't stopped people from living in Colorado Springs. I've had my share of getting stuck on I-25 and sitting there for almost two hours waiting for traffic to move so I can get to work due to bad accidents on I-25. My suggestion based on previous experience - pee before you drive. However, traffic in Colorado Springs isn't all as bad lately since the pandemic hit and people are now working mostly from home. Just avoid the major streets after 3pm if possible.

Row of homes in Banning Lewis Ranch
Housing Market


Colorado Springs Housing Market

The housing prices right now are at an all-time high, but living in Colorado Springs isn't all that bad. The average home price is about $500,000, but you can still find great housing for under $300,000 if you’re willing to start small and build your way up, or if you have the money just buy the house. I’ll provide a link in the description box with affordable homes for sale in Colorado Springs. When it comes to affordable housing in Colorado Springs, anything west of the highway is highly desirable for its mountain views and mature trees. These homes tend to be higher priced.


Cost of living in Colorado Springs: Housing Scenario


So hypothetically speaking, let’s just say there is a 3 bedroom home, 3 bath, 2 car garage, 2300 square feet with a large backyard so we can just live the American dream here, one might probably paying about $2500 per month on the mortgage with property taxes and a 5% down-payment with a 3.2% interest rate based off the median home price in Colorado Springs because that’s a bit more realistic for what someone would likely pay for a house in Colorado Springs. In order to be able to afford this home you’ll want to make a combined or single household income of at least around $9,000 to $12,000 per month. And, according to ziprecruiter.com, the average monthly salary in Colorado Springs is $5,220 at the time of recording this video.


Cost of living in Colorado Springs: Food prices


I’ll be honest with you. I’m not a huge fan of grocery shopping in stores. I get my groceries delivered from Walmart - which by the way if you want $15 off to try it for yourself, I’ll link a discount for you in the comments just because you’ve made it this far in the video! Just don’t forget to tip! These guys work hard. But, since I know many still shop at the grocery store I’ve taken some footage of most common grocery items at the nearest store so you can see what food prices are. Eggs are about $4 for the organic brown dozen. Milk is around $3 for a gallon, and a bag of cheese is going to run just around $2 to $3. We budget about $600 per month for groceries. Keep in mind that I do have a blended family totaling 7, but with split custody we’re not budgeting for a daily budget of a 7 member household. I would feel comfortable saying this amount is a safe average monthly grocery budget unless of course you’re only feeding one or two people.

Pouring syrup over a stack of pancakes
Food


Cost of living in Colorado Springs: Utilities


My house is about 2400 square feet and we are consistently under $300 for gas, water, and electricity. In the summer months when we water extra or let the kids play in the water it will go as high as $350 per month, but there are months where we use less like during that transition between spring and summer and fall and winter where it’s closer to $250. With water restrictions in place, we’ve been doing great keeping our costs lower.


Cost of living in Colorado Springs: Gas prices


Next is the gas prices in Colorado Springs! At the time of this video, gas prices were around $3.30 but you can check out Gas Buddy’s website which will be linked in the text below this video to see what the current prices are.


Things to do in Colorado Springs


Are you curious about the nightlife in Colorado Springs? I feel like we’re pretty laid back and quiet. We turn up on hiking trails and fitness. Many neighbors don’t like a ton of noise after 10pm, especially fireworks. I personally like to play pool or just hang out with friends at a barbecue. I’m probably the worst person to ask. But if you live in Colorado Springs and you know of some great places please share with us in the comments!

People sitting at a bar drinking martinis
Nightlife

Downtown Colorado Springs can be pretty active, especially before the pandemic. It’s definitely not as hot as Denver, so if you’re looking for something lively and lit, head that way. You might be able to see a few live bands in Manitou Springs or Downtown Colorado Springs. I have several videos on things to do in Colorado Springs so you can watch that playlist linked here for you.


Colorado Springs Weather


It’s mostly sunny days here in Colorado Springs. We occasionally have some wind and hail. We have had a few catastrophic wind, fire, and hail situations, but very seldom does it get really bad here. I think the worst part is people driving in the snow-well actually not knowing how to drive in the snow, causing accidents and getting stuck. So much so, there’s a nonprofit group that goes out to rescue stranded vehicles. Just don’t go out if you don’t have to in the snow. Driving on ice is no joke! I would hate for you to run out of gas and get stuck in a blizzard. Just plan ahead. Bring snacks and water for kids and maybe a couple blankets if you do have to go out in bad weather.

Living in Colorado Springs could be an exciting time for you! There are so many things to do here, and living in this city might just give you the life that you have always dreamed of having. If you love mountains, sunny days, and friendly faces, Colorado Springs is a great choice! Colorado Springs isn't just another city, it's the place where many of your dreams might come true.