USLivingCost Salaries · Rent · Cost of Living

Colorado Springs, CO vs. Plano, TX

Median rent is $1,562 a month in Colorado Springs, CO and $1,792 in Plano, TX. Household income is $83,198 against $108,649. Both cities are read from the same ACS 2019-2023 5-Year Estimates and the same BEA Regional Price Parities 2023, so the two columns below are directly comparable.

$
Same standard of living
A salary of $100,000 in Colorado Springs, CO buys what $99,759 buys in Plano, TX
-$241 less to keep the same standard of living
Median gross rent Monthly
$1,562 $1,792 +14.7%
Median household income Annual
$83,198 $108,649 +30.6%
Median home value Owner-occupied
$420,700 $440,600 +4.7%
Rent as share of income Annual rent ÷ income
22.5% 19.8% -2.7 pp
Price level U.S. average = 100
97.4 97.2 -0.2%
Salary needed for median rent Keeps rent at 30% of gross
$62,500 $71,700 +14.7%
Rent median income carries at 30% Affordable rent
$2,080 $2,716 +30.6%
Population City proper
483,099 287,339 -40.5%
Equivalent salary For $100,000 in Colorado Springs
$100,000 $99,759 -0.2%

A green or red badge means the second city is higher or lower, not better or worse: a lower rent is good for a tenant, a lower household income is not. For the price level and
the share of income the raw values are shown, because a percentage difference between two
percentages is easy to misread.

What the gap means

Lower rent
$1,562
Colorado Springs, CO · 14.7% below Plano, TX
Higher household income
$108,649
Plano, TX · 30.6% above Colorado Springs, CO
Same standard of living
$99,759
$100,000 in Colorado Springs, CO needs $99,759 in Plano, TX
Price level gap
0.2 points
97.4 in CO against 97.2 in TX
Rent burden gap
2.7 points
Colorado Springs, CO versus Plano, TX, share of income taken by rent
Highest buying power
102.9%
Plano, TX · share of the national average income that a dollar there buys

Colorado Springs, CO vs Plano, TX: frequently asked questions

Is Plano, TX more expensive than Colorado Springs, CO?

Overall prices are almost identical: a regional price level of 97.2 in Plano, TX against 97.4 in Colorado Springs, CO.

How much do I need to earn in Plano, TX to keep a $100,000 lifestyle from Colorado Springs, CO?

About $99,800. Adjusting $100,000 by the BEA regional price levels of the two areas (97.4 in Colorado Springs, CO, 97.2 in Plano, TX) gives the salary with the same purchasing power. Taxes and personal spending habits are not included.

Is rent cheaper in Colorado Springs, CO or Plano, TX?

The median gross rent is $1,562 a month in Colorado Springs, CO and $1,792 in Plano, TX, a difference of $230 a month or $2,760 a year.

Where are household incomes higher, Colorado Springs, CO or Plano, TX?

The median household income is $83,198 in Colorado Springs, CO and $108,649 in Plano, TX. Rent takes 22.5% of the median income in Colorado Springs, CO and 19.8% in Plano, TX.

What salary do I need to afford the median rent in Plano, TX?

About $71,700 a year, the gross income that keeps the median rent of $1,792 a month at 30% of income. The same rule gives $62,500 in Colorado Springs, CO.

More comparisons with Colorado Springs, CO

More comparisons with Plano, TX

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Definitions used on this page

Salary needed for the median rent
Twelve months of median gross rent divided by 0.30: the income that keeps the median rent at 30% of gross pay.
Price level
BEA regional price parity for the metro area where one is published, otherwise for the state. The national average is 100.
Same standard of living
A salary in Colorado Springs, CO converted into Plano, TX at the ratio of the two price levels. It adjusts for prices only, not for taxes or for what either city offers.
Buying power
One hundred divided by the price level: what a dollar buys locally relative to the national average.

Sources

Margins of error are published for every Census figure. Read the methodology before reading a small gap between two cities as a real difference.

Full detail for each city: Colorado Springs, CO · Plano, TX