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$795,377
Los Angeles, CA686,082
Boston, MA576,189
Seattle, WA563,432
Portland, OR466,921
Chicago, IL460,745
Denver, CO413,831
Las Vegas, NV360,554
NATIONAL AVERAGE326,999
Albuquerque, NM313,411
Reno, NV309,801
Spokane, WA308,221
Phoenix, AZ308,054
Salt Lake City, UT306,902
COLORADO SPRINGS, CO294,831
Dallas, TX276,604
Boise, ID267,833
Raleigh, NC216,165
Source: C2ER - COLI 2016 Annual Average

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, IL251.7
Boston, MA240.0
Los Angeles, CA237.8
Las Vegas, NV220.1
Seattle, WA219.3
Portland, OR209.5
NATIONAL AVERAGE (30 city average) 209.4
Reno, NV199.8
Washington, DC199.1
Spokane, WA198.8
Boise, ID192.5
Salt Lake City, UT188.8
Denver, CO187.8
COLORADO SPRINGS, CO187.3
Albuquerque, NM185.9
Phoenix, AZ183.8
Dallas, TX180.0
Raleigh, NC175.8
Source: RS Means Construction Cost Index, January 2017
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Corporate Tax

StateCorporate Tax Rate
NevadaN/A
WashingtonN/A
District of Columbia9.40%
California8.84%
Massachusetts8.00%
Illinois7.75%
Oregon7.60%
Idaho7.40%
New Mexico6.60%
Arizona5.50%
North Carolina5.00%
Utah5.00%
COLORADO4.63%
Texas.75% Franchise Tax on $1,110,000+ Revenues
Source: Federal Tax Administrators Internet, January 2016
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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$153.06$134.57$287.63
Washington, DC0.00161.5861.81223.39
Seattle, WA188.830.000.00188.83
Phoenix, AZ185.910.000.00185.91
Los Angeles, CA0.00123.0956.89179.98
Las Vegas, NV0.00125.3247.05172.37
Dallas, TX0.00112.1350.62162.75
NATIONAL AVERAGE179.5596.0365.28161.31
Chicago, IL0.0086.2464.61150.85
Albuquerque, NM0.00103.4745.75149.22
Portland, OR0.0074.0271.04145.06
Reno, NV0.0073.7166.84140.54
Raleigh, NC0.0088.7650.72139.48
Salt Lake City, UT0.0075.9863.24139.23
Spokane, WA0.0059.0377.34136.37
Denver, CO0.0089.9845.92135.90
Boise, ID0.0067.2766.29133.56
COLORADO SPRINGS, CO0.0074.9545.39120.34
Source: C2ER - COLI 2016 Annual Average
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Education Levels Comparison

City Percent
Completed
College
Percent
Completed
High School
Dallas, TX30.274.5
Seattle, WA58.993.4
Washington, DC54.689.3
Raleigh, NC48.290.5
Portland, OR45.591.3
Boston, MA45.385.2
Denver, CO4586.1
Salt Lake City, UT43.187.4
Boise, ID39.894.3
COLORADO SPRINGS, CO37.293.1
Chicago, IL35.682.3
Albuquerque, NM33.589
Los Angeles, CA3275.5
Reno, NV30.385.7
NATIONAL AVERAGE29.886.7
Spokane, WA28.891.6
Phoenix, AZ26.780.7
Las Vegas, NV22.383.3
Percent of those 25 and older.
Source: U.S. Census Bureau, 2011 - 2015 American Community Survey
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(Bureau of Labor Statistics, February 2017)

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