Cost of Living: Colorado Springs, CO vs Elgin, IL (2026)

Colorado Springs

Colorado
119
VS

Elgin

Illinois
90

Colorado Springs is 32% more expensive than Elgin.

$1,562/mo ↑ 24%
Median Rent
$1,260/mo ↓ 19%
$83,198/yr ↓ 6%
Median Income
$88,316/yr ↑ 6%
$420,700 ↑ 67%
Home Value
$252,400 ↓ 40%
$1,592/mo ↑ 6%
Owner Costs
$1,502/mo ↓ 6%
483,099
Population
114,106

Tax Comparison

4.4%
Income Tax
4.95%
2.9%
State Sales Tax
6.25%
0.51%
Property Tax
2.07%

Affordability

22.5%
rent-to-income
Affordability
17.1%
rent-to-income

Detailed Comparison

When comparing Colorado Springs, CO and Elgin, IL, the overall cost of living indices are 119 and 90 respectively (national median = 100). Rent is $302/month cheaper in Elgin, saving renters about $3,624/year.

Median household income is $5,118/year higher in Elgin. Home values also differ significantly — the median in Colorado Springs is $420,700 compared to $252,400 in Elgin.

Colorado has a lower income tax rate, making Colorado Springs slightly more tax-friendly.

Frequently Asked Questions

Colorado Springs vs Elgin — common questions

Is Colorado Springs or Elgin cheaper to live in?
Based on our cost index, Elgin is cheaper to live in with an index of 90 compared to 119 (US average = 100).
What is the rent difference between Colorado Springs and Elgin?
Median rent in Colorado Springs is $1,562/month and in Elgin it's $1,260/month — a difference of $302/month.
Which city has higher income, Colorado Springs or Elgin?
Median household income is $83,198 in Colorado Springs and $88,316 in Elgin. Median household income is $5,118/year higher in Elgin.
How do taxes compare between Colorado and Illinois?
Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Colorado Springs or Elgin?
It depends on your priorities. Colorado Springs has a cost index of 119 with median rent of $1,562/mo, while Elgin has a cost index of 90 with rent of $1,260/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Colorado Springs details → View Elgin details →

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