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

Colorado Springs

Colorado
119
VS

Richmond

Virginia
98

Colorado Springs is 21% more expensive than Richmond.

$1,562/mo ↑ 19%
Median Rent
$1,314/mo ↓ 16%
$83,198/yr ↑ 33%
Median Income
$62,671/yr ↓ 25%
$420,700 ↑ 28%
Home Value
$328,100 ↓ 22%
$1,592/mo ↑ 16%
Owner Costs
$1,374/mo ↓ 14%
483,099
Population
227,595

Tax Comparison

4.4%
Income Tax
5.75%
2.9%
State Sales Tax
5.3%
0.51%
Property Tax
0.8%

Affordability

22.5%
rent-to-income
Affordability
25.2%
rent-to-income

Detailed Comparison

When comparing Colorado Springs, CO and Richmond, VA, the overall cost of living indices are 119 and 98 respectively (national median = 100). Rent is $248/month cheaper in Richmond, saving renters about $2,976/year.

Median household income is $20,527/year higher in Colorado Springs. Home values also differ significantly — the median in Colorado Springs is $420,700 compared to $328,100 in Richmond.

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

Frequently Asked Questions

Colorado Springs vs Richmond — common questions

Is Colorado Springs or Richmond cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 119 (US average = 100).
What is the rent difference between Colorado Springs and Richmond?
Median rent in Colorado Springs is $1,562/month and in Richmond it's $1,314/month — a difference of $248/month.
Which city has higher income, Colorado Springs or Richmond?
Median household income is $83,198 in Colorado Springs and $62,671 in Richmond. Median household income is $20,527/year higher in Colorado Springs.
How do taxes compare between Colorado and Virginia?
Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.
Should I move to Colorado Springs or Richmond?
It depends on your priorities. Colorado Springs has a cost index of 119 with median rent of $1,562/mo, while Richmond has a cost index of 98 with rent of $1,314/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Colorado Springs details → View Richmond details →

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