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

Colorado Springs

Colorado
119
VS

Minneapolis

Minnesota
102

Colorado Springs is 17% more expensive than Minneapolis.

$1,562/mo ↑ 18%
Median Rent
$1,329/mo ↓ 15%
$83,198/yr ↑ 4%
Median Income
$80,269/yr ↓ 4%
$420,700 ↑ 22%
Home Value
$345,600 ↓ 18%
$1,592/mo ↑ 5%
Owner Costs
$1,513/mo ↓ 5%
483,099
Population
426,845

Tax Comparison

4.4%
Income Tax
9.85%
2.9%
State Sales Tax
6.875%
0.51%
Property Tax
1.11%

Affordability

22.5%
rent-to-income
Affordability
19.9%
rent-to-income

Detailed Comparison

When comparing Colorado Springs, CO and Minneapolis, MN, the overall cost of living indices are 119 and 102 respectively (national median = 100). Rent is $233/month cheaper in Minneapolis, saving renters about $2,796/year.

Median household income is $2,929/year higher in Colorado Springs. Home values also differ significantly — the median in Colorado Springs is $420,700 compared to $345,600 in Minneapolis.

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

Frequently Asked Questions

Colorado Springs vs Minneapolis — common questions

Is Colorado Springs or Minneapolis cheaper to live in?
Based on our cost index, Minneapolis is cheaper to live in with an index of 102 compared to 119 (US average = 100).
What is the rent difference between Colorado Springs and Minneapolis?
Median rent in Colorado Springs is $1,562/month and in Minneapolis it's $1,329/month — a difference of $233/month.
Which city has higher income, Colorado Springs or Minneapolis?
Median household income is $83,198 in Colorado Springs and $80,269 in Minneapolis. Median household income is $2,929/year higher in Colorado Springs.
How do taxes compare between Colorado and Minnesota?
Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax. Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax.
Should I move to Colorado Springs or Minneapolis?
It depends on your priorities. Colorado Springs has a cost index of 119 with median rent of $1,562/mo, while Minneapolis has a cost index of 102 with rent of $1,329/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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