The typical owner-occupied home in Elizabeth is worth about $475,900, 12% below the Colorado median of $539,400 and 43% above the national median of $332,700. Owners pay a median $3,006 a year in property taxes, about 0.63% of their home's value, higher than the Colorado rate of 0.48%. The median household earns $112,986 a year, so the median home costs 4.2 times the median income (5.6 times for Colorado). 94% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Elizabeth at a glance
| Elizabeth | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $475,900 | $539,400 | $332,700 |
| Median property tax paid per year | $3,006 | $2,602 | $3,119 |
| Property tax as a share of value | 0.63% | 0.48% | 0.94% |
| Median household income | $112,986 | $95,470 | $80,734 |
| Homes lived in by their owners | 94% | 66% | 65% |
| Owner homes with a mortgage | 70% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $2,533 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 26.1% | 22.1% | 21.0% |
| Median rent | $1,808 | $1,761 | $1,413 |
| Rent as a share of renters' income | 19.5% | 31.4% | 30.6% |
| Median year homes were built | 1999 | 1988 | 1980 |
| Vacant homes | 2.0% | 8.3% | 10.1% |
| Population | 2,244 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Elizabeth
At this week's average 30-year rate of 7.11%, buying the median Elizabeth home of $475,900 with 20% down costs about $3,009 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,802, 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 $128,969 for the 20%-down payment. That payment is 32% of the median Elizabeth household income of $112,986; at that income and 20% down, the 28% guideline points to a home of about $417,000.
The median rent here is $1,808 a month, so owning the median home costs about $1,201 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $95,180 |
|---|---|
| Loan amount | $380,720 |
| Principal and interest | $2,561 |
| Property taxes (0.63% a year) | $250 |
| Homeowners insurance (our estimate, 0.5% a year) | $198 |
| PMI | $0 |
| Total per month | $3,009 |
Change the numbers in the calculator
| Down payment | $16,656 |
|---|---|
| Loan amount | $467,280 |
| Principal and interest | $3,143 |
| Property taxes (0.63% a year) | $250 |
| Homeowners insurance (our estimate, 0.5% a year) | $198 |
| FHA mortgage insurance | $210 |
| Total per month | $3,802 |
Change the numbers in the calculator
Questions about home buying in Elizabeth
What is the median home value in Elizabeth?
About $475,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elizabeth?
Homeowners pay a median $3,006 a year, which is about 0.63% 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 Elizabeth?
For the median home with 20% down at 7.11%, the payment is about $3,009 a month. Keeping that under 28% of gross income takes about $128,969 a year.
More about Elizabeth
- Mortgage Refinance in Elizabeth
- Debt Relief in Elizabeth
- Home Equity Loans in Elizabeth
- 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