The typical owner-occupied home in Paonia is worth about $343,700, 36% below the Colorado median of $539,400 and 3% above the national median of $332,700. Owners pay a median $1,047 a year in property taxes, about 0.30% of their home's value, lower than the Colorado rate of 0.48%. The median household earns $59,574 a year, so the median home costs 5.8 times the median income (5.6 times for Colorado). 61% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Paonia at a glance
| Paonia | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $343,700 | $539,400 | $332,700 |
| Median property tax paid per year | $1,047 | $2,602 | $3,119 |
| Property tax as a share of value | 0.30% | 0.48% | 0.94% |
| Median household income | $59,574 | $95,470 | $80,734 |
| Homes lived in by their owners | 61% | 66% | 65% |
| Owner homes with a mortgage | 48% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,545 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 23.3% | 22.1% | 21.0% |
| Median rent | $897 | $1,761 | $1,413 |
| Rent as a share of renters' income | 17.5% | 31.4% | 30.6% |
| Median year homes were built | 1971 | 1988 | 1980 |
| Vacant homes | 13.7% | 8.3% | 10.1% |
| Population | 1,661 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Paonia
At this week's average 30-year rate of 7.11%, buying the median Paonia home of $343,700 with 20% down costs about $2,079 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,651, 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 $89,091 for the 20%-down payment. That payment is 42% of the median Paonia household income of $59,574; at that income and 20% down, the 28% guideline points to a home of about $230,000.
The median rent here is $897 a month, so owning the median home costs about $1,182 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $68,740 |
|---|---|
| Loan amount | $274,960 |
| Principal and interest | $1,850 |
| Property taxes (0.30% a year) | $86 |
| Homeowners insurance (our estimate, 0.5% a year) | $143 |
| PMI | $0 |
| Total per month | $2,079 |
Change the numbers in the calculator
| Down payment | $12,030 |
|---|---|
| Loan amount | $337,475 |
| Principal and interest | $2,270 |
| Property taxes (0.30% a year) | $86 |
| Homeowners insurance (our estimate, 0.5% a year) | $143 |
| FHA mortgage insurance | $152 |
| Total per month | $2,651 |
Change the numbers in the calculator
Questions about home buying in Paonia
What is the median home value in Paonia?
About $343,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Paonia?
Homeowners pay a median $1,047 a year, which is about 0.30% 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 Paonia?
For the median home with 20% down at 7.11%, the payment is about $2,079 a month. Keeping that under 28% of gross income takes about $89,091 a year.
More about Paonia
- Mortgage Refinance in Paonia
- Debt Relief in Paonia
- Home Equity Loans in Paonia
- 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