The typical owner-occupied home in Colorado is worth about $539,400, 62% above the national median of $332,700. Owners pay a median $2,602 a year in property taxes, about 0.48% of their home's value, lower than the national rate of 0.94%. The median household earns $95,470 a year, so the median home costs 5.6 times the median income (4.1 times for the U.S.). 66% of occupied homes here are lived in by their owners, and 69% of those owners still have a mortgage.
Colorado at a glance
| Colorado | U.S. | |
|---|---|---|
| Median home value | $539,400 | $332,700 |
| Median property tax paid per year | $2,602 | $3,119 |
| Property tax as a share of value | 0.48% | 0.94% |
| Median household income | $95,470 | $80,734 |
| Homes lived in by their owners | 66% | 65% |
| Owner homes with a mortgage | 69% | 61% |
| Median monthly costs, owners with a mortgage | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 22.1% | 21.0% |
| Median rent | $1,761 | $1,413 |
| Rent as a share of renters' income | 31.4% | 30.6% |
| Median year homes were built | 1988 | 1980 |
| Vacant homes | 8.3% | 10.1% |
| Population | 5,862,189 | 334,922,499 |
What a typical home costs per month in Colorado
At this week's average 30-year rate of 7.11%, buying the median Colorado home of $539,400 with 20% down costs about $3,343 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,242, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $143,287 for the 20%-down payment. That payment is 42% of the median Colorado household income of $95,470; at that income and 20% down, the 28% guideline points to a home of about $359,000.
The median rent here is $1,761 a month, so owning the median home costs about $1,582 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $107,880 |
|---|---|
| Loan amount | $431,520 |
| Principal and interest | $2,903 |
| Property taxes (0.48% a year) | $216 |
| Homeowners insurance (our estimate, 0.5% a year) | $225 |
| PMI | $0 |
| Total per month | $3,343 |
Change the numbers in the calculator
| Down payment | $18,879 |
|---|---|
| Loan amount | $529,630 |
| Principal and interest | $3,563 |
| Property taxes (0.48% a year) | $216 |
| Homeowners insurance (our estimate, 0.5% a year) | $225 |
| FHA mortgage insurance | $239 |
| Total per month | $4,242 |
Change the numbers in the calculator
Questions about home buying in Colorado
What is the median home value in Colorado?
About $539,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Colorado?
Homeowners pay a median $2,602 a year, which is about 0.48% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Colorado?
For the median home with 20% down at 7.11%, the payment is about $3,343 a month. Keeping that under 28% of gross income takes about $143,287 a year.
More about Colorado
- Mortgage Refinance in Colorado
- Debt Relief in Colorado
- Home Equity Loans in Colorado
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data