Is it cheaper to live in Chicago or Colorado Springs?

Chicago, IL is cheaper. Its monthly baseline of $1,440 (1BR rent + utilities) runs about 2% below Colorado Springs, CO's $1,470, mainly because of rent.

How much more do you need to earn to live in Chicago than in Colorado Springs?

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $50,000 a year in Chicago versus $52,000 in Colorado Springs.

Which has lower taxes, Chicago or Colorado Springs?

Chicago is taxed under Illinois's rules (a top state income tax rate of 4.95% and a 6.25% state sales tax); Colorado Springs under Colorado's (a top state income tax rate of 4.40% and a 2.9% state sales tax).

Chicago vs Colorado Springs Cost of Living 2026

Chicago

Illinois

$1,440/mo est.

Colorado Springs

Colorado

$1,470/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,440 in Chicago, IL versus $1,470 in Colorado Springs, CO. Overall, Chicago, IL is roughly 2% cheaper to live in day-to-day than Colorado Springs, CO, driven mainly by rent.

Median household income is $75,134 in Chicago, IL and $83,198 in Colorado Springs, CO — about 10% higher in Colorado Springs, CO. Illinois has a top state income tax rate of 4.95% and a 6.25% state sales tax; Colorado has a top state income tax rate of 4.40% and a 2.9% state sales tax.

Chicago, IL

Colorado Springs, CO

Rent

Studio

$1,186

$998

+16% in Chicago, IL

1 Bedroom

$1,258

$1,305

+4% in Colorado Springs, CO

2 Bedroom

$1,406

$1,504

+7% in Colorado Springs, CO

3 Bedroom

$1,554

$1,881

+21% in Colorado Springs, CO

Buying a Home

Median Home Value

$315,200

$420,700

+33% in Colorado Springs, CO

Income

Median Household Income

$75,134

$83,198

+11% in Colorado Springs, CO

Metro Median Wage (annual)

$54,720

$52,710

+4% in Chicago, IL

People & Lifestyle

Median Age

35.7 yr

35.6 yr

+0.1 yr in Chicago, IL

Homeownership

45.5%

61.3%

+15.8 pp in Colorado Springs, CO

Bachelor's+ (25+)

43.3%

41.9%

+1.4 pp in Chicago, IL

Avg Commute

33.5 min

22.8 min

+10.7 min in Chicago, IL

Crime (per 100k/yr)

Violent Crime

539.8

721.1

+34% in Colorado Springs, CO

Property Crime

3,489.9

3,487.9

+0% in Chicago, IL

FBI Crime Data Explorer. Offenses per 100,000 residents per year; agency reporting practices vary, so this is approximate.

Climate

Avg Annual Temperature

52.7°F

49.0°F

+3.7°F in Chicago, IL

Annual Precipitation

38.0 in

16.5 in

+21.4 in in Chicago, IL

Gas

Regular Gasoline

$4.82/gal

$4.54/gal

+6% in Chicago, IL

Area: Chicago vs Colorado.

Public Transit

Base Fare (one-way)

$2.50

$1.75

+30% in Chicago, IL

Adult base one-way fare — CTA vs Mountain Metro (2026).

Utilities

Electricity (¢/kWh)

18.9

16.7

+11% in Chicago, IL

Natural Gas ($/MCF)

$12.10

$11.64

+4% in Chicago, IL

Residential, state-level averages (EIA). MCF = 1,000 cubic feet.

Groceries

Milk (gal)

$4.14

$4.37

+6% in Colorado Springs, CO

Bread (lb)

$1.79

$2.10

+17% in Colorado Springs, CO

Eggs (doz)

$3.63

$2.25

+38% in Chicago, IL

Ground Beef (lb)

$6.97

$7.23

+4% in Colorado Springs, CO

Chicken (lb)

$2.15

$2.14

+1% in Chicago, IL

Bananas (lb)

$0.63

$0.74

+18% in Colorado Springs, CO

Average prices — Midwest vs West (BLS). Regional where available, otherwise U.S. average.

State Taxes

Sales Tax (IL / CO)

6.25%

2.9%

+3.4 pp in IL

Income Tax (top rate)

4.95%

4.40%

+0.5 pp in IL

Chicago vs Colorado Springs — FAQ

Is it cheaper to live in Chicago or Colorado Springs?: Chicago, IL is cheaper. Its monthly baseline of $1,440 (1BR rent + utilities) runs about 2% below Colorado Springs, CO's $1,470, mainly because of rent.
How much more do you need to earn to live in Chicago than in Colorado Springs?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $50,000 a year in Chicago versus $52,000 in Colorado Springs.
Which has lower taxes, Chicago or Colorado Springs?: Chicago is taxed under Illinois's rules (a top state income tax rate of 4.95% and a 6.25% state sales tax); Colorado Springs under Colorado's (a top state income tax rate of 4.40% and a 2.9% state sales tax).

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981–2010 (climate); EIA weekly retail (gas); Tax Foundation 2026 (state taxes).