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Cost of Living: Memphis, TN vs Colorado Springs, CO

A data-driven comparison of housing, groceries, transportation, taxes, job market and more. See which city gives you more for your money.

17.4% Colorado Springs, CO is more expensive overall
57.1% 57.1% more expensive housing
6.5% 6.5% more expensive groceries
Updated April 2026 · Data: Bureau of Labor Statistics, U.S. Census Bureau National average = 100

At a Glance

🏠 Housing 57.1% more
Memphis
70
Colorado Springs
110
🛒 Groceries 6.5% more
Memphis
92
Colorado Springs
98
🚗 Transportation 2.1% more
Memphis
96
Colorado Springs
98
🏥 Healthcare 11.1% more
Memphis
90
Colorado Springs
100
⚡ Utilities 6.1% cheaper
Memphis
98
Colorado Springs
92

Detailed Breakdown

Category Memphis, TN Colorado Springs, CO Difference
Overall Cost Index8610117.4% more
Housing7011057.1% more
Median 1BR Rent$950$1,35042.1% more
Median Home Price$165,000$400,000142.4% more
Groceries92986.5% more
Transportation96982.1% more
Healthcare9010011.1% more
Utilities98926.1% less

Tax Comparison

Tax Type Memphis, TN Colorado Springs, CO
State Income TaxNone (0%)4.40%
State Sales Tax7.00%2.90%
Avg Property Tax Rate0.56%0.49%
Estate / Inheritance TaxNoneNone

What You'd Need to Earn

Memphis, TN
$48,000
Median household income
Colorado Springs, CO
$72,000
Median household income
✅ Good news: Income in Colorado Springs outpaces the cost difference, so your purchasing power should hold up.

Salary Equivalent Calculator

Find out what you'd need to earn in Colorado Springs to maintain your Memphis lifestyle.

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Based on overall cost index: Memphis (86) vs Colorado Springs (101). This is an estimate for comparison purposes.

Job Market Snapshot

Unemployment Rate
Memphis4.8%
Colorado Springs3.4%
Job Growth (YoY)
Memphis1.9%
Colorado Springs3.1%
Top Industries
MemphisLogistics, Healthcare, Manufacturing
Colorado SpringsMilitary, Tech, Tourism

Quality of Life

Avg Commute
Memphis24 min
Colorado Springs24 min
Walk Score
Memphis34
Colorado Springs34
Air Quality (AQI)
Memphis44
Colorado Springs40
Avg Temperature
Memphis63°F
Colorado Springs49°F
Population
Memphis633,104
Colorado Springs478,961

Moving from Memphis to Colorado Springs?

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Planning Your Move?

Here are some helpful resources if you're considering relocating.

🏠 Find ApartmentsBrowse rentals in Memphis and Colorado Springs → 🚚 Get Moving QuotesCompare prices from top movers → 📈 Check Home ValuesSee real estate trends in both cities → 💼 Search JobsFind open positions in Colorado Springs →

Compare Other Cities

Memphis vs Austin → Memphis vs Denver → Memphis vs Nashville → Colorado Springs vs Raleigh → Colorado Springs vs Portland → Colorado Springs vs Phoenix →

Frequently Asked Questions

Is Memphis or Colorado Springs cheaper to live in?+
Memphis is the more affordable option overall. The biggest difference is in housing costs, where the gap is about 57.1%. Day-to-day expenses like groceries and transportation are closer between the two cities.
How much is rent in Memphis vs Colorado Springs?+
A typical one-bedroom apartment costs around $950/month in Memphis and $1,350/month in Colorado Springs — a difference of about $400 per month.
Which city has lower taxes, Memphis or Colorado Springs?+
Tennessee has a state income tax of None (0%) and sales tax of 7.00%. Colorado has a state income tax of 4.40% and sales tax of 2.90%. Consider all tax types together when evaluating total tax burden, as states with no income tax often compensate with higher sales or property taxes.
Can I afford to move from Memphis to Colorado Springs?+
Median household income in Memphis is $48,000 compared to $72,000 in Colorado Springs. Use the salary calculator above to see what you'd need to earn to maintain your current standard of living.
What about buying a home in Memphis vs Colorado Springs?+
The median home price in Memphis is $165,000 versus $400,000 in Colorado Springs — a difference of $235,000. Property tax rates also differ: Tennessee averages 0.56% while Colorado averages 0.49%.