Is $40K a Good Salary in Colorado Springs, CO?
Full budget breakdown for Colorado Springs on $40K/year — take-home after taxes, rent burden, what you can afford, and how it compares to the city median.
Monthly budget in Colorado Springs on $40K
US average equivalent
$42,000
Your $40K in Colorado Springs (COL: 95) buys the same as $42,000/yr in a city with average US cost of living.
vs Colorado Springs median
-41%
The median household income in Colorado Springs is $68,000/yr. You're earning 41% below that.
Cities where $40K goes further
These cities have a lower rent burden at $40K than Colorado Springs.
Other salary levels in Colorado Springs
Frequently asked questions
Is $40K a good salary in Colorado Springs?
$40K/year in Colorado Springs gives you approximately $2,582/month in take-home pay after federal and state taxes. With a median 1BR rent of $1,500/month, your rent burden is 58% of take-home — which is considered difficult. Colorado Springs ranks #107 out of 179 cities for this salary level.
How much is $40K after taxes in Colorado Springs?
On $40K/year in Colorado Springs (CO), you take home approximately $2,582/month after federal income tax, 4.4% CO state income tax, and FICA. That is roughly $30,984/year net.
What is the cost of living in Colorado Springs on $40K?
Monthly estimated costs in Colorado Springs: rent $1,500, groceries ~$372, transportation ~$55, utilities ~$145, internet ~$65. Total estimated expenses: ~$2,137/month, leaving ~$445/month after essentials on a $40K salary.
Tax estimates use 2026 brackets · Rent data: Zillow Observed Rent Index · Budget figures are estimates for general guidance only