Salary Needed to Live in Colorado Springs as a Retiree
A retired individual (65+) needs approximately $20,824/year to live comfortably in Colorado Springs, CO — including 5% savings.
Comfortable Salary
$20,824
with 5% savings
Bare Minimum
$19,397
no savings buffer
Monthly Expenses
$1,180
2% below national avg
Detailed Monthly Budget for a Retiree in Colorado Springs
| Expense | Colorado Springs | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $129 | $121 | +7% |
| 🛒 Groceries | $16 | $16 | 0% |
| ⚡ Utilities | $16 | $15 | +7% |
| 🚗 Transportation | $20 | $18 | +11% |
| 🛡️ Car Insurance | $147 | $215 | -32% |
| 🏥 Health Insurance | $43 | $54 | -20% |
| Medicare Supplement | $210 | $200 | +5% |
| Prescription Drugs | $158 | $150 | +5% |
| Internet + Phone | $126 | $120 | +5% |
| Recreation & Social | $210 | $200 | +5% |
| Home Maintenance | $105 | $100 | +5% |
| Total Monthly | $1,180 | $1,209 | -2% |
How We Calculated the Salary
Monthly expenses:$1,180
Target savings (5%):$67/mo
Monthly after-tax needed:$1,247
Effective tax rate:27%
Gross annual salary needed:$20,824
Other Household Types in Colorado Springs
Related Pages
FAQ
What salary does a retiree need in Colorado Springs?
A retiree needs approximately $20,824/year ($1,735/month gross) to live comfortably in Colorado Springs with a 5% savings rate.
How much is rent for a retiree in Colorado Springs?
A 1-2br senior-friendly in Colorado Springs costs approximately $129/month, which is the largest single expense at 11% of the total budget.
Is Colorado Springs affordable for a retiree?
Colorado Springs is roughly average for retiree costs, requiring a salary close to the national median.