Cost of Living Comparison between Farmington, MI vs Colorado Springs, CO

Moving to Colorado Springs, CO from Farmington, MI with a salary of $60,000

Thinking about moving to another city? Here are two important questions and the numbers to you will need to answer those questions:
How much more or less will it cost to live in the new city?
Look at the percentage difference between the cost of living where you live now, and the cost of living in the new location.
How much more or less will pay for the same or similar job be in the new city?
Look at the percentage increase or reduction in your salary that you could expect if you were to move to that new location
Using these numbers, we calculated the net change in annual disposable income that a move to the new city will have on your wallet and lifestyle.

Cost of Living change

Farmington, MI to Colorado Springs, CO

4.9%

$0
$50k
$100k

Estimated Salary change

Farmington, MI to Colorado Springs, CO

-2.5%

$0
$50k
$100k

Think Carefully…

Looks like this move could have a negative net change in disposable income

$-4,392.9
Explanation
The cost of living in Colorado Springs, CO is 4.9% higher than in Farmington, MI. You would have to earn a salary of $62,921 to maintain your current standard of living.
Employers in Colorado Springs, CO typically pay -2.5% less than employers in Farmington, MI. The same type of job in the same type of company in Colorado Springs, CO will typically pay $58,528.

Cost of Living at Home

Typical Salary at Work

Current Location
Farmington, MI Edit
Farmington, MI Edit
New Location
Colorado Springs, CO Edit
Colorado Springs, CO Edit
Percent Change
4.9%
-2.5%

It's a good time to be working in Colorado.


Employment is up 2.6% over this time last year.



Cost of Living Calculator




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Comments about the Cost of Living in Colorado Springs, CO

What stores are known for lower grocery prices?

Stores like Trader Joe’s are known to offer low prices. Shopping there can considerably reduce cost of living, as the prices in grocery stores can vary a lot. ( 2019-09-26 salary.com )

I love to go to sports events, what does Colorado Springs, Colorado have to offer?

Colorado Springs, CO does not have a major sports team, but don’t worry, check out local colleges and high school sports schedules. These games usually have very cheap tickets and the spirit and enthusiasm of the crowd often makes up for the level of skill. ( 2019-09-26 salary.com )

How much is the average price of internet in Colorado Springs, CO?

The average cost of internet access in the U.S. is $66.20 per month. There are many providers and various packages that are offered, many that bundle internet, cable, and phone together. Pricing for various packages can vary a lot even in the same location. You should evaluate the options based on your usage and preferences and pick the best fit for your needs. One tip to reduce this cost and your overall cost of living, is to get cable service from another source like Direct TV, Netflix, Sling, Amazon Prime or others. ( 2019-09-26 salary.com )

I am nervous about moving, what is the typical cost of moving to another city and what should I have to think about?

The average cost of moving to another state is around $5,600 for a distance of 1,200 miles. This price can vary a lot if the distance is greater and depending on how much is being moved. Even if your employer is covering the cost of a move, there will still be costs that are not covered. A cost that typically occurs is that your existing furniture and accessories are either too large, too small, or not appropriate for your new home. You may find that after you move, you will need to purchase many new items for the new location, for example, window coverings, rugs, lighting, and outdoor gear. Make sure you budget for these types of expenses and include them in the first year’s cost of living at your new location. Finally, although there is no dollar cost, is the stress of moving, which will increase if you have children or pets. Make sure you prepare in advance for what additional TLC those kids and pets will need to have a good move. ( 2019-09-26 salary.com )

Electricity bills are a big part of my current cost of living and can be really high, what is the cost of electricity in Colorado Springs, Colorado?

Electric costs in Colorado Springs,CO are currently lower than average when compared to other states. Since a year ago the price of electricity in Colorado has gone down about 3.686%. Electric costs will contribute to the energy component of your overall cost of living. ( 2019-09-26 salary.com )

My kids are important, how much of my cost of living should I estimate I will need to spend on child care in Colorado Springs, CO?

The estimated average annual cost for child care in Colorado Springs, Colorado (based on state average), is $13154. This cost is ranked NO. 7 nationally. Some employers have company provided day care centers that let you bring your child to work with you and receive care on site. Some colleges and universities with Childhood Education programs also may have day care centers available at reduced costs, so you should explore those possibilities to see if you can reduce your child care expense. ( 2019-09-26 salary.com )

Should I plan on spending a lot on rent in Colorado Springs,CO?

In Colorado Springs,CO, the median rent for a 1 bedroom apartment is $954, and for a 2 bedroom apartment is $1230. In general, in the past year, rental costs in Colorado Springs have increased by approximately 2%. Since rental expense makes up a significant part of the cost of living, you should consider this expense and how it might change when you calculate your cost of living in a new city. ( 2019-09-26 salary.com )

What can you do for free in Colorado Springs, CO?

Looks for areas of Colorado Springs, Colorado where there is a large student population. In those areas you will be sure to find lots of free or cheap events to go to and plenty of cheap places to eat. Familiarize yourself with the places where students hang out, and take advantage of discounted or bargain prices, you are sure to be able to keep your cost of living reasonable. Look at the website for Colorado Springs, CO to find recommendations for activities that are available and unique to the area. ( 2019-09-26 salary.com )

I know there are many types of taxes that contribute to the cost of living in Colorado Springs, Colorado, will the overall tax expense be high or low?

Good question. Based on Individual income taxes (which you will pay on earnings), Sales taxes (pay for your purchases), property taxes (on your home or indirectly on your rent), unemployment insurance taxes (from your income), and general business taxes (impacting employers ability to offer jobs and good pay), in Colorado Springs, the overall tax climate compared to the rest of the country is generally low. ( 2019-09-26 salary.com )

Is Colorado Springs, Colorado very congested with traffic?

Overall, the time and ease of your driving times will impact your cost of living, since driving in heavy and slow moving traffic uses a lot of gas. Colorado Springs, Colorado has an ease of driving ranking of 45 and is considered pretty good overall for commuters. ( 2019-09-26 salary.com )

Can you save money using public transport?

You could save up to $1,000 per year, depending on your location, by using public transport instead of driving. This could translate into significant reduction in your cost of living. Not only will you reduce the stress of driving and finding a place to park once you reach your destination, your car and tires will last longer, and you will spend less on gas. A side benefit is that you may be able to relax, work, or read on the way to work, or get to know and chat with other commuters. Some employers offer employees reduced fee bus or transit passes, so check that out with your employer. ( 2019-09-26 salary.com )



Cost of Living Frequently Asked Questions

What is a Cost of Living index and how is it used?

In the simplest terms, a Cost of Living index is the estimated amount that represents the cost of the basic necessities required for an individual to live. A cost of living or COL estimate may typically include estimates for housing, food, energy, medical care, transportation, taxes, and other necessities. A COL index may be used to measure what the cost difference would be for a person living in a certain location compared to another location. This cost of living comparison helps individuals make decisions about where they would like to live and what they can afford based on the costs in that location. A cost of living comparison can provide guidance about how an increase or decrease in these basic living expenses impacts necessary spending for an individual or a family. ( 2019-09-26 salary.com )

What factors are included in estimating your cost of living?

The Salary.com cost of living calculator estimate is based on data related to five general categories: housing, food, healthcare, transportation, and energy. These are the universally recognized core components of any cost of living estimate and represent those expenses that apply to everyone. Obviously, there may be other factors that could contribute to your particular cost of living situation and not everyone has the same spending habits. For example, education and/or childcare costs might not apply to everyone, but for those who have those expenses, they could be significant and should be considered when you evaluate your cost of living comparison. ( 2019-09-26 salary.com )

The Salary.com cost of living calculator is unique in that it also incorporates current salary data for thousands of jobs specific to a chosen home or work location to provide a more refined estimate of the cost of living variations. You can see how your job and your salary will be impacted by a change of location. If you live in one location but work in another, the cost of living calculator will make those adjustments to provide an accurate estimate of the change in COL. The Salary.com cost of living calculator helps you to make cost of living comparisons cost comparisons easily and quickly. ( 2019-09-26 salary.com )


Last Update: 2019-09-26