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

Colorado Springs

Colorado
119
VS

Lakewood

Colorado
141

Colorado Springs is 16% cheaper than Lakewood.

$1,562/mo ↓ 11%
Median Rent
$1,746/mo ↑ 12%
$83,198/yr ↓ 3%
Median Income
$85,789/yr ↑ 3%
$420,700 ↓ 23%
Home Value
$548,200 ↑ 30%
$1,592/mo ↓ 8%
Owner Costs
$1,729/mo ↑ 9%
483,099
Population
156,309

Tax Comparison

4.4%
Income Tax
4.4%
2.9%
State Sales Tax
2.9%
0.51%
Property Tax
0.51%

Affordability

22.5%
rent-to-income
Affordability
24.4%
rent-to-income

Detailed Comparison

When comparing Colorado Springs, CO and Lakewood, CO, the overall cost of living indices are 119 and 141 respectively (national median = 100). Rent is $184/month cheaper in Colorado Springs, saving renters about $2,208/year.

Median household income is $2,591/year higher in Lakewood. Home values also differ significantly — the median in Colorado Springs is $420,700 compared to $548,200 in Lakewood.

Both cities share the same state tax structure since they are in Colorado.

Frequently Asked Questions

Colorado Springs vs Lakewood — common questions

Is Colorado Springs or Lakewood cheaper to live in?
Based on our cost index, Colorado Springs is cheaper to live in with an index of 119 compared to 141 (US average = 100).
What is the rent difference between Colorado Springs and Lakewood?
Median rent in Colorado Springs is $1,562/month and in Lakewood it's $1,746/month — a difference of $184/month.
Which city has higher income, Colorado Springs or Lakewood?
Median household income is $83,198 in Colorado Springs and $85,789 in Lakewood. Median household income is $2,591/year higher in Lakewood.
How do taxes compare between Colorado and Colorado?
Both cities are in Colorado and share the same state tax rates: 4.4% income tax, 2.9% sales tax, and 0.51% property tax.
Should I move to Colorado Springs or Lakewood?
It depends on your priorities. Colorado Springs has a cost index of 119 with median rent of $1,562/mo, while Lakewood has a cost index of 141 with rent of $1,746/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Colorado Springs details → View Lakewood details →

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