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

Colorado Springs

Colorado
119
VS

Richardson

Texas
128

Colorado Springs is 7% cheaper than Richardson.

$1,562/mo ↓ 14%
Median Rent
$1,825/mo ↑ 17%
$83,198/yr ↓ 14%
Median Income
$96,257/yr ↑ 16%
$420,700 ↑ 4%
Home Value
$405,600 ↓ 4%
$1,592/mo ↓ 11%
Owner Costs
$1,796/mo ↑ 13%
483,099
Population
118,269

Tax Comparison

4.4%
Income Tax
0%
2.9%
State Sales Tax
6.25%
0.51%
Property Tax
1.6%

Affordability

22.5%
rent-to-income
Affordability
22.8%
rent-to-income

Detailed Comparison

When comparing Colorado Springs, CO and Richardson, TX, the overall cost of living indices are 119 and 128 respectively (national median = 100). Rent is $263/month cheaper in Colorado Springs, saving renters about $3,156/year.

Median household income is $13,059/year higher in Richardson. Home values also differ significantly — the median in Colorado Springs is $420,700 compared to $405,600 in Richardson.

Texas has no state income tax, giving Richardson residents a significant tax advantage over Colorado's 4.4% rate.

Frequently Asked Questions

Colorado Springs vs Richardson — common questions

Is Colorado Springs or Richardson cheaper to live in?
Based on our cost index, Colorado Springs is cheaper to live in with an index of 119 compared to 128 (US average = 100).
What is the rent difference between Colorado Springs and Richardson?
Median rent in Colorado Springs is $1,562/month and in Richardson it's $1,825/month — a difference of $263/month.
Which city has higher income, Colorado Springs or Richardson?
Median household income is $83,198 in Colorado Springs and $96,257 in Richardson. Median household income is $13,059/year higher in Richardson.
How do taxes compare between Colorado and Texas?
Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Colorado Springs or Richardson?
It depends on your priorities. Colorado Springs has a cost index of 119 with median rent of $1,562/mo, while Richardson has a cost index of 128 with rent of $1,825/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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