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$1,041,970
Los Angeles, CA816,438
Seattle, WA813,440
Boston, MA716,119
Portland, OR616,272
Chicago, IL517,211
Denver, CO515,298
Reno, NV463,121
Las Vegas, NV447,464
Spokane, WA399,028
Salt Lake City, UT396,378
Dallas, TX389,520
NATIONAL AVERAGE366,058
Boise, ID349,211
COLORADO SPRINGS, CO343,668
Phoenix, AZ334,870
Albuquerque, NM*314,593
Raleigh, NC284,183
Source: C2ER - COLI 2019 Annual Average; *Source: C2ER - COLI 2nd Quarter 2019
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, IL277.2
Boston, MA268.2
Los Angeles, CA259.4
Seattle, WA253.0
Las Vegas, NV244.0
Portland, OR237.8
NATIONAL AVERAGE232.2
Washington, DC221.5
Reno, NV219.9
Spokane, WA215.1
Boise, ID213.8
Denver, CO212.1
Salt Lake City, UT209.1
COLORADO SPRINGS, CO205.8
Phoenix, AZ205.8
Albuquerque, NM203.4
Dallas, TX198.4
Raleigh, NC196.3
Source: RS Means Construction Cost Index, July 2019
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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%
Idaho6.925%
New Mexico5.90%
Utah4.95%
Arizona4.90%
COLORADO4.63%
North Carolina2.50%
Texas.75% Franchise Tax on $1,110,000+ Revenues
Source: Federal Tax Administrators Internet, January 2019
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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$67.96$163.66$231.62
Washington, DC0.00144.1777.49221.66
Phoenix, AZ199.930.000.00199.93
Dallas, TX0.00135.8252.18188.00
Seattle, WA185.140.000.00185.14
Los Angeles, CA0.00110.5572.55183.10
Las Vegas, NV0.00123.7946.71170.50
NATIONAL AVERAGE171.34100.4967.55168.04
Raleigh, NC0.00104.2762.24166.51
COLORADO SPRINGS, CO0.0099.4362.28161.71
Spokane, WA0.0059.6395.19154.82
Portland, OR0.0080.6560.06140.71
Albuquerque, NM*0.0092.0740.97137.42
Chicago, IL0.0080.2552.14132.39
Reno, NV0.00102.7528.51131.26
Salt Lake City, UT0.0074.8655.23130.09
Boise, ID0.0066.2358.58124.81
Denver, CO0.0054.2554.96109.21
Source: C2ER - COLI 2019 Annual Average; *Source: C2ER - COLI 2nd Quarter 2019
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Education Levels Comparison

City Percent
Completed
College
Percent
Completed
High School
Seattle, WA61.794.2
Washington, DC56.690.3
Raleigh, NC50.091.5
Portland, OR48.291.8
Boston, MA47.486.1
Denver, CO46.586.7
Salt Lake City, UT45.188.5
Boise, ID40.994.4
COLORADO SPRINGS, CO38.493.2
Chicago, IL37.583.8
Albuquerque, NM34.389.5
Los Angeles, CA33.076.4
Reno, NV32.087.0
Dallas, TX31.675.9
NATIONAL AVERAGE30.987.3
Spokane, WA29.592.3
Phoenix, AZ27.881.2
Las Vegas, NV23.284.0
Percent of those 25 and older.
Source: U.S. Census Bureau, 2013 - 2017 American Community Survey
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(Bureau of Labor Statistics, March 2020)

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