Colorado Springs, CO vs Lakewood, CO

Colorado Springs is moderately more affordable than Lakewood, with a 13.9% lower cost of living index. Colorado Springs scores 116 compared to 135 for Lakewood, where the US average is 100. This difference means residents of Lakewood can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Colorado Springs is $1,562/month compared to $1,746/month in Lakewood — a 11% difference. Home values follow the same pattern: Colorado Springs is more affordable at $420,700 median vs $548,200.

Median household income in Colorado Springs is $83,198 compared to $85,789 in Lakewood (-3%). Lakewood does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Colorado Springs spend roughly 22.5% of their income on rent, less than the 24.4% in Lakewood.