Population:
465,101
Nearest large city:
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Denver
What $300,000 will buy:
3-bedroom, 2-bath remodeled Victorian home near downtown
When Richard King Brown moved to Colorado Springs from New York City, he immediately fell in love with the area’s natural beauty, including the crisp blue skies and snow-capped mountains. Now, 14 years later, he still makes a point of getting out for a five-mile walk, along with his wife, Mary, at least three evenings a week.
Even if you’re accustomed to life in a bigger city, you won’t be bored in Colorado Springs. The historic, walkable Old Colorado City neighborhood is home to numerous shops and restaurants. The city boasts an active and eclectic arts scene, with options ranging from art shows and theatrical performances to regional premieres and original works. As you stroll the city’s tree-lined streets, keep an eye out for the more than 50 pieces of public art, or pop into any of numerous art galleries.
The second-largest city in Colorado is a haven for nature lovers, with more than 9,000 acres of parkland, 105 miles of urban trails and 160 miles of park trails. On the city’s northwestern edge, explore the Garden of the Gods and hike any of its 15 miles of trails. From much of the city, you can enjoy a view of Pike’s Peak, which is only 12 miles away.
Although housing prices have increased in recent years, Colorado Springs is more affordable than Denver, an hour to the north. The city’s economy is largely driven by military personnel assigned to the Air Force Academy and several bases in the area, but young professionals and retirees are also moving in.
Colorado imposes a flat income tax of 4.63%, and the state offers taxpayers 55 and older generous tax exclusions on retirement income. Colorado doesn’t have inheritance or estate taxes. Residents of Colorado Springs pay a combined state and city sales tax rate of 8.25%.
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Quiz: How Much Do You Know About Taxes on Social Security Benefits?Quiz Social Security benefits often come with confusing IRS tax rules that can trip up financially savvy retirees and near-retirees.
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Are You Ready for 65? The Medicare Initial Enrollment Period QuizQuiz Turning 65 soon? Test your basic knowledge of Medicare's Initial Enrollment Period (IEP) rules in our quick quiz.
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3 Ways to Stretch the 2026 Social Security COLA For Your BudgetThree steps retirees can take to stretch the Social Security COLA to fit their budgets.
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457 Plan Contribution Limits for 2026Retirement plans There are higher 457 plan contribution limits in 2026. That's good news for state and local government employees.
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Medicare Basics: 12 Things You Need to KnowMedicare There's Medicare Part A, Part B, Part D, Medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare — and much more.
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The Seven Worst Assets to Leave Your Kids or Grandkidsinheritance Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.
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SEP IRA Contribution Limits for 2026SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $70,000 in 2025, and up to $72,000 in 2026.
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Roth IRA Contribution Limits for 2026Roth IRAs Roth IRAs allow you to save for retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2026 limits and income-based phaseouts.
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SIMPLE IRA Contribution Limits for 2026simple IRA For 2026, the SIMPLE IRA contribution limit rises to $17,000, with a $4,000 catch-up for those 50 and over, totaling $21,000.
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457 Contribution Limits for 2024retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
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Roth 401(k) Contribution Limits for 2026retirement plans The Roth 401(k) contribution limit for 2026 has increased, and workers who are 50 and older can save even more.
