Cost of Living: Colorado Springs, CO vs Elizabeth, NJ (2026)

Colorado Springs

Colorado
119
VS

Elizabeth

New Jersey
112

Colorado Springs is 6% more expensive than Elizabeth.

$1,562/mo ↑ 7%
Median Rent
$1,463/mo ↓ 6%
$83,198/yr ↑ 30%
Median Income
$63,874/yr ↓ 23%
$420,700 ↑ 7%
Home Value
$393,500 ↓ 6%
$1,592/mo ↑ 3%
Owner Costs
$1,543/mo ↓ 3%
483,099
Population
135,887

Tax Comparison

4.4%
Income Tax
10.75%
2.9%
State Sales Tax
6.625%
0.51%
Property Tax
2.23%

Affordability

22.5%
rent-to-income
Affordability
27.5%
rent-to-income

Detailed Comparison

When comparing Colorado Springs, CO and Elizabeth, NJ, the overall cost of living indices are 119 and 112 respectively (national median = 100). Rent is $99/month cheaper in Elizabeth, saving renters about $1,188/year.

Median household income is $19,324/year higher in Colorado Springs. Home values also differ significantly — the median in Colorado Springs is $420,700 compared to $393,500 in Elizabeth.

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

Frequently Asked Questions

Colorado Springs vs Elizabeth — common questions

Is Colorado Springs or Elizabeth cheaper to live in?
Based on our cost index, Elizabeth is cheaper to live in with an index of 112 compared to 119 (US average = 100).
What is the rent difference between Colorado Springs and Elizabeth?
Median rent in Colorado Springs is $1,562/month and in Elizabeth it's $1,463/month — a difference of $99/month.
Which city has higher income, Colorado Springs or Elizabeth?
Median household income is $83,198 in Colorado Springs and $63,874 in Elizabeth. Median household income is $19,324/year higher in Colorado Springs.
How do taxes compare between Colorado and New Jersey?
Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.
Should I move to Colorado Springs or Elizabeth?
It depends on your priorities. Colorado Springs has a cost index of 119 with median rent of $1,562/mo, while Elizabeth has a cost index of 112 with rent of $1,463/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Colorado Springs details → View Elizabeth details →

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