Salary Needed to Live in Colorado Springs as a Retiree
A retired individual (65+) needs approximately $58,729/year to live comfortably in Colorado Springs, CO, including 5% savings.
Direct Answer
A retiree needs about $58,729/year to live comfortably in Colorado Springs, CO. The bare-minimum salary is $54,707/year, but the comfortable figure includes a 5% savings target and a monthly after-tax budget of $3,516.
The minimum scenario leaves about $3,328/mo after tax and no planned savings. The comfortable scenario uses $4,894/mo gross pay to cover expenses, taxes, and a savings buffer.
Hybrid salary estimateBLS, HUD, ACS inputsLast verified May 2026
Comfortable Salary
$58,729
with 5% savings
Bare Minimum
$54,707
$4,559/mo gross, no savings buffer
Monthly Expenses
$3,328
9% below national avg
Detailed Monthly Budget for a Retiree in Colorado Springs
| Expense | Colorado Springs | Nat'l Avg | Diff |
|---|---|---|---|
| 1-2BR Senior-Friendly Rent | $1,236 | $1,448 | -15% |
| Groceries | $192 | $189 | +2% |
| Utilities | $191 | $183 | +4% |
| Transportation | $238 | $211 | +13% |
| Car Insurance | $147 | $215 | -32% |
| Health Insurance | $515 | $642 | -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 | $3,328 | $3,658 | -9% |
How We Calculated the Salary
Monthly expenses:$3,328
Target savings (5%):$188/mo
Monthly after-tax needed:$3,516
Effective tax rate:27%
Gross annual salary needed:$58,729
What Drives the Salary Number?
Housing
$1,236
1-2BR Senior-Friendly rent is 37% of this monthly budget.
Taxes
27%
Estimated federal plus CO state tax reserve used to convert take-home needs into gross salary.
Savings target
5%
$188/mo is reserved for savings so the salary is not just break-even.
Local index
105/100
Colorado Springs is below the national baseline; the model adjusts baseline spending by local rent and cost data.
Compare Salary Needed in Nearby west Cities
Salary Planning Checklist
- Keep 1-2br senior-friendly housing near $1,236/mo or adjust the salary target upward.
- Budget $809/mo for persona-specific costs such as Medicare Supplement and Prescription Drugs.
- Use $54,707/year as the survival floor and $58,729/year as the healthier negotiation target.
Other Household Types in Colorado Springs
Related Pages
FAQ
What salary does a retiree need in Colorado Springs?
A retiree needs approximately $58,729/year ($4,894/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 $1,236/month, which is the largest single expense at 37% of the total budget.
Is Colorado Springs affordable for a retiree?
Yes, Colorado Springs is 9% more affordable than the national average for a retiree.