One of the main reasons to consider a midsize pickup over a full-size model relates to running costs. With a lot less weight to lug around, midsize pickups are not as expensive to fuel. But within the midsize class, what are the most efficient options? The Toyota Tacoma and Chevrolet Colorado are the best-selling models in this segment—the Tacoma has a comfortable lead at the top—but which one will put less strain on your budget? Here's a look at how these popular models compare in terms of efficiency and overall running costs.Tacoma Vs. Colorado Efficiency2026 Toyota TacomaToyotaWe'll be comparing the 2026 models of each pickup truck, including the most and least efficient variants. Here's how they match up, based on official EPA data.Toyota TacomaChevrolet ColoradoMost Efficient TrimHybrid 4WD (22/24/23 mpg)RWD (19/24/21 mpg)Least Efficient Trim4WD, Manual, Non-Hybrid (18/23/20 mpg)ZR2 Bison 4WD (16/16/16 mpg)Annual Fuel Cost$2,900 to $3,350$3,200 to $4,200Both pickups have only four-cylinder turbocharged engines, but the Tacoma is easily the more efficient truck. It's available with a powerful hybrid, whereas the Colorado is not. Even with 4WD, the Tacoma Hybrid is more efficient than the Colorado with RWD. Comparing base RWD pickups, the Tacoma gets 23 mpg combined, 2 mpg better than the equivalent Chevy.The Colorado becomes much heavier on gas with mud-terrain tires and specialized off-road hardware. The capable ZR2 Bison has V8-like thirst, returning just 16 mpg combined and being substantially more expensive to fuel than the Tacoma TRD Pro or Trailhunter (23 mpg).If you want a truck that doesn't sacrifice performance or economy, the Toyota is the better pick between these two.What About Other Ownership Costs?2026 Toyota Tacoma Trailhunter rear viewJoe SantosOf course, the total cost to own a vehicle involves much more than gas bills. One also has to take into account depreciation, insurance premiums, and maintenance/repair costs. When looking at all these factors, the Toyota Tacoma widens its lead over the Chevy Colorado.Toyota TacomaChevrolet ColoradoAverage 5-year ownership costs$40,011$53,418The Colorado has much higher average costs than the Tacoma over five years, based on data from CarEdge. Depreciation is a major factor. The Toyota famously has excellent resale values, which is reflected in it shedding only around $9,589 of its value over this period. The Colorado, meanwhile, loses $20,973 to depreciation over five years, over twice as much as the Tacoma. Maintenance and repair costs are also over $1,000 more for the Chevy. Combined with the Tacoma's lower insurance premiums and fuel costs, it's easy to see why it dominates the sales charts.Related: True Cost To Own A Toyota Tacoma Per YearFinal Thoughts2026 Toyota TacomaToyotaThe Chevrolet Colorado is a brilliant pickup and outperforms the Toyota in terms of raw towing capacity and standard power. If you need the most capability out of your midsize pickup, it's hard to argue with the Chevy. However, if you can live with the Toyota's towing and standard power, it's easily the more sensible buy. The fuel costs tell only part of the story—add up all the Toyota's advantages in depreciation, maintenance, and insurance, and it can be a significantly cheaper truck to own over five years.Related: Toyota Tacoma Vs. Ford Ranger Vs. Chevrolet Colorado: Which One Is The Most Reliable? There's One Clear Winner