The typical owner-occupied home in Red Cliff is worth about $837,000, 55% above the Colorado median of $539,400 and 2.5 times the national median of $332,700. Owners pay a median $3,000 a year in property taxes, about 0.36% of their home's value, lower than the Colorado rate of 0.48%. The median household earns $72,125 a year, so the median home costs 11.6 times the median income (5.6 times for Colorado). 84% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Red Cliff at a glance
| Red Cliff | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $837,000 | $539,400 | $332,700 |
| Median property tax paid per year | $3,000 | $2,602 | $3,119 |
| Property tax as a share of value | 0.36% | 0.48% | 0.94% |
| Median household income | $72,125 | $95,470 | $80,734 |
| Homes lived in by their owners | 84% | 66% | 65% |
| Owner homes with a mortgage | 70% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $2,614 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 24.3% | 22.1% | 21.0% |
| Median rent | $1,239 | $1,761 | $1,413 |
| Rent as a share of renters' income | 33.3% | 31.4% | 30.6% |
| Median year homes were built | 1971 | 1988 | 1980 |
| Vacant homes | 20.6% | 8.3% | 10.1% |
| Population | 308 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Red Cliff
At this week's average 30-year rate of 7.11%, buying the median Red Cliff home of $837,000 with 20% down costs about $5,104 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,633, 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 $218,755 for the 20%-down payment. That payment is 85% of the median Red Cliff household income of $72,125; at that income and 20% down, the 28% guideline points to a home of about $276,000.
The median rent here is $1,239 a month, so owning the median home costs about $3,865 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $167,400 |
|---|---|
| Loan amount | $669,600 |
| Principal and interest | $4,504 |
| Property taxes (0.36% a year) | $251 |
| Homeowners insurance (our estimate, 0.5% a year) | $349 |
| PMI | $0 |
| Total per month | $5,104 |
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| Down payment | $29,295 |
|---|---|
| Loan amount | $821,840 |
| Principal and interest | $5,529 |
| Property taxes (0.36% a year) | $251 |
| Homeowners insurance (our estimate, 0.5% a year) | $349 |
| FHA mortgage insurance | $505 |
| Total per month | $6,633 |
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Questions about home buying in Red Cliff
What is the median home value in Red Cliff?
About $837,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Red Cliff?
Homeowners pay a median $3,000 a year, which is about 0.36% 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 Red Cliff?
For the median home with 20% down at 7.11%, the payment is about $5,104 a month. Keeping that under 28% of gross income takes about $218,755 a year.
More about Red Cliff
- Mortgage Refinance in Red Cliff
- Debt Relief in Red Cliff
- Home Equity Loans in Red Cliff
- 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