Doing Business

City Comparisons

High Elevation, Low Cost

Colorado Springs may be nestled below the towering Rocky Mountains, but compared to other cities, it’s a step above the rest. Colorado Springs is home to world-class innovation, accessibility, and opportunity — all at a much lower cost than neighboring markets and cities across the country. Here’s how Colorado Springs stacks up against other regions.

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Housing Cost Comparison

 House
Price
Washington, DC$930,517
Los Angeles, CA808,583
Seattle, WA724,688
Boston, MA662,000
Portland, OR540,600
Chicago, IL499,733
Denver, CO492,394
Reno, NV408,645
Las Vegas, NV*375,990
Salt Lake City, UT360,138
Spokane, WA**354,415
NATIONAL AVERAGE351,556
Dallas, TX326,766
COLORADO SPRINGS, CO322,948
Albuquerque, NM318,218
Boise, ID317,164
Phoenix, AZ316,523
Raleigh, NC273,522
Source: C2ER - COLI 2nd Quarter 2018; *Source: C2ER - COLI 2017 Annual Average; **Source: C2ER - COLI 1st Quarter 2018
Based on: A newly built home of approximately 2,400 square feet with 3 bedrooms, 2 full baths, living room, dining room, one fireplace, utility room, fully finished basement and attached 2-car garage on 8,000 square foot lot.
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Construction Costs

 Cost Per Index
Chicago, IL269.3
Boston, MA254.1
Los Angeles, CA250.4
Seattle, WA237.7
Las Vegas, NV230.5
Portland, OR223.6
NATIONAL AVERAGE223.0
Washington, DC212.6
Reno, NV209.8
Spokane, WA208.0
Boise, ID202.9
Denver, CO200.8
Salt Lake City, UT199.8
COLORADO SPRINGS, CO197.2
Phoenix, AZ197.2
Albuquerque, NM195.4
Dallas, TX191.0
Raleigh, NC186.9
Source: RS Means Construction Cost Index, July 2018
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Corporate Tax

StateCorporate Tax Rate
NevadaN/A
WashingtonN/A
Illinois9.50%
California8.84%
District of Columbia8.25%
Massachusetts8.00%
Oregon7.60%
Idaho7.40%
New Mexico5.90%
Utah5.00%
Arizona4.90%
COLORADO4.63%
North Carolina3.00%
Texas.75% Franchise Tax on $1,110,000+ Revenues
Source: Federal Tax Administrators Internet, January 2018
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Workers Compensation

DescriptionClass
Code
AZ
CA
CO
IL
MA
NM
rate
TX
rate
UT
rate
Accountant - Traveling8803$0.09$0.27$0.09$0.06$0.05$0.12$0.05$0.05
Clerical88100.230.520.160.120.080.340.090.11
Computer Manufacturing35740.974.160.801.651.701.160.550.64
Electrical Apparatus31792.025.541.482.411.482.261.271.12
Electroplater33723.529.452.753.502.193.191.901.76
Engineers86010.510.560.410.510.290.580.160.31
Equipment Manufacturing36810.601.520.911.150.710.940.560.36
Inspectors87202.093.751.741.400.911.40n/a0.91
Outside Sales (Buyer)87420.440.670.300.270.160.550.150.26
Rate Reported per $100 of Payroll - Advisory Loss Costs
Source: HUB International, July 2015
Rate Reported Manual Premium for $1,000,000 Payroll- These are not manual premium rates.
Insurance companies increase by a factor which is filed per-state.
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Utility Comparison

CityAll
Electric
Part
Electric
Other
Energy
Total
Monthly
Energy
Boston, MA$0.00$75.73$161.34$237.07
Washington, DC0.00141.4969.90211.39
Phoenix, AZ208.450.000.00208.45
Seattle, WA196.690.000.00196.69
Los Angeles, CA0.00122.3865.30187.68
Dallas, TX0.00122.1457.94180.08
NATIONAL AVERAGE169.6098.9468.18167.12
Las Vegas, NV*0.00123.2035.79158.99
Raleigh, NC0.0093.1059.18152.28
Albuquerque, NM0.00101.0141.38142.39
Portland, OR0.0076.9764.53141.50
COLORADO SPRINGS, CO0.0091.7648.34140.10
Boise, ID0.0068.5270.87139.39
Salt Lake City, UT0.0074.4059.42133.82
Spokane, WA**0.0057.7975.50133.29
Chicago, IL0.0081.4848.63130.11
Reno, NV0.0086.8535.43122.28
Denver, CO0.0057.1246.87103.99
Source: C2ER - COLI 2nd Quarter 2018; *Source 2017 Annual Average; Source: C2ER - COLI 1st Quarter 2018
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Education Levels Comparison

City Percent
Completed
College
Percent
Completed
High School
Seattle, WA60.493.9
Washington, DC55.490.0
Raleigh, NC49.291.3
Portland, OR47.091.6
Boston, MA46.485.7
Denver, CO45.786.4
Salt Lake City, UT44.487.5
Boise, ID40.694.4
COLORADO SPRINGS, CO37.893.4
Chicago, IL36.583.1
Albuquerque, NM33.889.1
Los Angeles, CA32.575.9
Dallas, TX31.075.3
Reno, NV30.786.2
NATIONAL AVERAGE30.387.0
Spokane, WA28.891.9
Phoenix, AZ27.480.9
Las Vegas, NV22.483.5
Percent of those 25 and older.
Source: U.S. Census Bureau, 2012 - 2016 American Community Survey
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(Bureau of Labor Statistics, August 2018)

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