Living Cost Compare
Colorado Springs

Colorado

$1,470/mo est.

vs
Memphis

Tennessee

$1,110/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,470 in Colorado Springs, CO versus $1,110 in Memphis, TN. Overall, Memphis, TN is roughly 24% cheaper to live in day-to-day than Colorado Springs, CO, driven mainly by rent.

Median household income is $83,198 in Colorado Springs, CO and $51,211 in Memphis, TN — about 38% higher in Colorado Springs, CO. Colorado has a top state income tax rate of 4.40% and a 2.9% state sales tax; Tennessee has no state income tax and a 7% state sales tax.

Colorado Springs, CO
Memphis, TN

Rent

Studio
$998
$877
+12% in Colorado Springs, CO
1 Bedroom
$1,305
$948
+27% in Colorado Springs, CO
2 Bedroom
$1,504
$1,073
+29% in Colorado Springs, CO
3 Bedroom
$1,881
$1,281
+32% in Colorado Springs, CO

Buying a Home

Median Home Value
$420,700
$157,100
+63% in Colorado Springs, CO

Income

Median Household Income
$83,198
$51,211
+38% in Colorado Springs, CO
Metro Median Wage (annual)
$52,710
$46,890
+11% in Colorado Springs, CO

People & Lifestyle

Median Age
35.6 yr
34.3 yr
+1.3 yr in Colorado Springs, CO
Homeownership
61.3%
46.0%
+15.3 pp in Colorado Springs, CO
Bachelor's+ (25+)
41.9%
28.2%
+13.7 pp in Colorado Springs, CO
Avg Commute
22.8 min
21.3 min
+1.5 min in Colorado Springs, CO

Crime (per 100k/yr)

Violent Crime
721.1
2,507.5
+248% in Memphis, TN
Property Crime
3,487.9
6,965.8
+100% in Memphis, TN

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

Climate

Avg Annual Temperature
49.0°F
63.1°F
+14.1°F in Memphis, TN
Annual Precipitation
16.5 in
53.7 in
+37.1 in in Memphis, TN

Gas

Regular Gasoline
$4.54/gal
$4.35/gal
+4% in Colorado Springs, CO

Area: Colorado vs Midwest (PADD 2).

Public Transit

Base Fare (one-way)
$1.75
$1.75
about equal

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

Utilities

Electricity (¢/kWh)
16.7
15.1
+10% in Colorado Springs, CO
Natural Gas ($/MCF)
$11.64
$15.54
+34% in Memphis, TN

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

Groceries

Milk (gal)
$4.37
$4.16
+5% in Colorado Springs, CO
Bread (lb)
$2.10
$1.73
+18% in Colorado Springs, CO
Eggs (doz)
$2.25
$2.19
+3% in Colorado Springs, CO
Ground Beef (lb)
$7.23
$6.56
+9% in Colorado Springs, CO
Chicken (lb)
$2.14
$1.90
+11% in Colorado Springs, CO
Bananas (lb)
$0.74
$0.61
+17% in Colorado Springs, CO

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

State Taxes

Sales Tax (CO / TN)
2.9%
7%
+4.1 pp in TN
Income Tax (top rate)
4.40%
None
+4.4 pp in CO

Colorado Springs vs Memphis — FAQ

Is it cheaper to live in Colorado Springs or Memphis?
Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 24% below Colorado Springs, CO's $1,470, mainly because of rent.
How much more do you need to earn to live in Colorado Springs than in Memphis?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $52,000 a year in Colorado Springs versus $38,000 in Memphis.
Which has lower taxes, Colorado Springs or Memphis?
Colorado Springs is taxed under Colorado's rules (a top state income tax rate of 4.40% and a 2.9% state sales tax); Memphis under Tennessee's (no state income tax and a 7% 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).