Mariana Wagner

Moving To Colorado Springs … or ANY New City? Check The Local Cost Of Living First.

Thinking of moving from or to Colorado Springs? Well, you are not alone. 24% of our population is transient every year – meaning that 24% of our population moves in or out of Colorado Springs each year.

It’s not only the real estate markets that differ from town to town — the Cost of Living does, too.

Insurance costs, tax bills and just plain, day-to-day living will dent a household budget differently depending on where that household is.  It can be a nerve-wracking fact for families moving across state borders.

For example, if you compare Denver to Colorado Springs, you can make 9.81% LESS in Colorado Springs and still maintain the same standard of living as you would in Denver.

As an aid for the budget-aware, Bankrate.com keeps a Cost of Living Comparison Calculator on its website.  The calculator asks 3 questions: (1) Where do you live now, (2) To where you are moving, and (3) What is your salary.  It then spits out a detailed, 58-item cost comparison list between the two cities.

Some of the key costs compared include:

• Everyday groceries (like T-Bone steaks, Ibuprofen, pizza …)
• Energy bills
• Routine health care (and common prescriptions)
• Home ownership (…and rent)
• Clothes
• Sporting goods

The Cost of Living Comparison Calculator is thorough, with data culled from the ACCRA. You’ll be surprised at how granular the list can get. On the ACCRA website, you can buy a similar report for $5.

On the Bankrate.com site, the data is free.

Great News! According to BestPlaces.net, “Compared to the rest of the country, Colorado Springs’ cost of living is 8.52% Lower than the U.S. average.”

When it comes to comparing Denver and Colorado Springs real estate, check it out:

In Colorado Springs (compared to Denver), homes are cheaper, mortgage payments and rent are lower and energy bills are lower, too!

How does Colorado Springs (population 380,307) compare to other like-sized cities across the US?

Moving to Colorado Springs CO from …

• Raleigh NC (pop.392,552) - You may take a 8.33% decrease and still maintain your standard of living.
• Tulsa OK (pop. 385,635) – You will need a 7.55% increase to maintain your standard of living.
• Minneapolis MN (pop. 382,605) – You may take a 19.64% decrease and still maintain your standard of living.
• Honolulu HI (pop. 374,676) – You may take a 44.46% decrease and still maintain your standard of living.
• Wichita KS (pop. 366,046) – You will need a 1.13% increase to maintain your standard of living.

If you are looking to take advantage of the lower cost of living by moving to our area, check out the homes for sale in Colorado Springs, or give us a call at: 719.434.8346

We love where we live and we love what we do!

Partial content and idea for this post compliments of Bring the Blog – Real Estate and Mortgage Blog Content.

December 29th, 2009 by Mariana Wagner | Leave A Comment

This entry was posted on Tuesday, December 29th, 2009 at 6:46 am and is filed under About Colorado, About Colorado Springs, Relocation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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