The typical owner-occupied home in Monument is worth about $636,700, 18% above the Colorado median of $539,400 and 91% above the national median of $332,700. Owners pay a median $3,667 a year in property taxes, about 0.58% of their home's value, higher than the Colorado rate of 0.48%. The median household earns $128,816 a year, so the median home costs 4.9 times the median income (5.6 times for Colorado). 76% of occupied homes here are lived in by their owners, and 80% of those owners still have a mortgage.
Monument at a glance
| Monument | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $636,700 | $539,400 | $332,700 |
| Median property tax paid per year | $3,667 | $2,602 | $3,119 |
| Property tax as a share of value | 0.58% | 0.48% | 0.94% |
| Median household income | $128,816 | $95,470 | $80,734 |
| Homes lived in by their owners | 76% | 66% | 65% |
| Owner homes with a mortgage | 80% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $2,683 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 22.3% | 22.1% | 21.0% |
| Median rent | $1,929 | $1,761 | $1,413 |
| Rent as a share of renters' income | 29.4% | 31.4% | 30.6% |
| Median year homes were built | 2006 | 1988 | 1980 |
| Vacant homes | 3.0% | 8.3% | 10.1% |
| Population | 11,735 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Monument
At this week's average 30-year rate of 7.11%, buying the median Monument home of $636,700 with 20% down costs about $4,000 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,060, 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 $171,408 for the 20%-down payment. That payment is 37% of the median Monument household income of $128,816; at that income and 20% down, the 28% guideline points to a home of about $478,000.
The median rent here is $1,929 a month, so owning the median home costs about $2,071 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $127,340 |
|---|---|
| Loan amount | $509,360 |
| Principal and interest | $3,426 |
| Property taxes (0.58% a year) | $308 |
| Homeowners insurance (our estimate, 0.5% a year) | $265 |
| PMI | $0 |
| Total per month | $4,000 |
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| Down payment | $22,284 |
|---|---|
| Loan amount | $625,168 |
| Principal and interest | $4,206 |
| Property taxes (0.58% a year) | $308 |
| Homeowners insurance (our estimate, 0.5% a year) | $265 |
| FHA mortgage insurance | $282 |
| Total per month | $5,060 |
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Questions about home buying in Monument
What is the median home value in Monument?
About $636,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Monument?
Homeowners pay a median $3,667 a year, which is about 0.58% 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 Monument?
For the median home with 20% down at 7.11%, the payment is about $4,000 a month. Keeping that under 28% of gross income takes about $171,408 a year.
More about Monument
- Mortgage Refinance in Monument
- Debt Relief in Monument
- Home Equity Loans in Monument
- 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