Colorado Springs, CO Economy


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Colorado Springs, CO is a vibrant city located in the state of Colorado. It is home to many businesses such as the Lockheed Martin Space Systems Company, T-Mobile USA, and Prudential Financial. This city also offers affordable living with 2 bedroom rent costing around $1,590 compared to an average of $1,430 for the US. Additionally, grocery cost index in Colorado Springs stands at 98 versus 100 in the US. With its beautiful mountain views, pleasant climate and diverse attractions such as the Garden of the Gods Park and Pikes Peak Railway there is no wonder why this city has been named \"America’s Most Desirable Place to Live\".

Colorado Springs has an unemployment rate of 6.8%. The US average is 6.0%.

Colorado Springs has seen the job market increase by 4.1% over the last year. Future job growth over the next ten years is predicted to be 48.4%, which is higher than the US average of 33.5%.

Tax Rates for Colorado Springs
- The Sales Tax Rate for Colorado Springs is 8.1%. The US average is 7.3%.
- The Income Tax Rate for Colorado Springs is 4.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Colorado Springs
- The average income of a Colorado Springs resident is $29,355 a year. The US average is $28,555 a year.
- The Median household income of a Colorado Springs resident is $71,957 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyColorado Springs, ColoradoUnited States
  6.86
  -3.3%-6.2%
  48.4%33.5%
  8.3%6.2%
  4.6%4.6%
  $37,979$37,638
  $71,957$69,021
  $86,333$85,028
  Population by Occupation
  0.3%1.2%
  0.3%0.5%
  7.5%6.8%
  5.9%10.0%
  1.6%2.5%
  11.0%11.0%
  3.2%4.8%
  0.8%0.8%
  2.5%1.9%
  5.5%4.7%
  2.2%1.9%
  9.6%7.6%
  0.1%0.1%
  4.8%4.2%
  9.4%9.3%
  14.8%14.0%
  2.1%2.1%
  7.9%7.0%
  5.6%4.8%
  5.0%4.7%
Reviews for Colorado Springs
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Moved here from san diego. All expenses went up with exception to gas. San diego may not have an affordable housing market, but with all others equal san diego is still  More

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Moved here in the summer from one of the hottest places on earth and my quality of life has gone up dramatically. I can walk outside, there are enormous mountains to  More

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I have been in COS on and off for a couple years, finally making the permanent move several months ago. I have lived in Philly, Pittsburgh, Los Angeles, and Charlotte,  More

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