The typical owner-occupied home in Grand Lake is worth about $542,700, about the same as the Colorado median of $539,400 and 63% above the national median of $332,700. Owners pay a median $2,200 a year in property taxes, about 0.41% of their home's value, lower than the Colorado rate of 0.48%. The median household earns $103,750 a year, so the median home costs 5.2 times the median income (5.6 times for Colorado). 81% of occupied homes here are lived in by their owners, and 41% of those owners still have a mortgage.
Grand Lake at a glance
| Grand Lake | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $542,700 | $539,400 | $332,700 |
| Median property tax paid per year | $2,200 | $2,602 | $3,119 |
| Property tax as a share of value | 0.41% | 0.48% | 0.94% |
| Median household income | $103,750 | $95,470 | $80,734 |
| Homes lived in by their owners | 81% | 66% | 65% |
| Owner homes with a mortgage | 41% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,865 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 20.0% | 22.1% | 21.0% |
| Median rent | – | $1,761 | $1,413 |
| Rent as a share of renters' income | 22.3% | 31.4% | 30.6% |
| Median year homes were built | 1976 | 1988 | 1980 |
| Vacant homes | 75.4% | 8.3% | 10.1% |
| Population | 333 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Grand Lake
At this week's average 30-year rate of 7.11%, buying the median Grand Lake home of $542,700 with 20% down costs about $3,332 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,236, 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 $142,807 for the 20%-down payment. That payment is 39% of the median Grand Lake household income of $103,750; at that income and 20% down, the 28% guideline points to a home of about $394,000.
| Down payment | $108,540 |
|---|---|
| Loan amount | $434,160 |
| Principal and interest | $2,921 |
| Property taxes (0.41% a year) | $185 |
| Homeowners insurance (our estimate, 0.5% a year) | $226 |
| PMI | $0 |
| Total per month | $3,332 |
Change the numbers in the calculator
| Down payment | $18,994 |
|---|---|
| Loan amount | $532,870 |
| Principal and interest | $3,585 |
| Property taxes (0.41% a year) | $185 |
| Homeowners insurance (our estimate, 0.5% a year) | $226 |
| FHA mortgage insurance | $240 |
| Total per month | $4,236 |
Change the numbers in the calculator
Questions about home buying in Grand Lake
What is the median home value in Grand Lake?
About $542,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Grand Lake?
Homeowners pay a median $2,200 a year, which is about 0.41% 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 Grand Lake?
For the median home with 20% down at 7.11%, the payment is about $3,332 a month. Keeping that under 28% of gross income takes about $142,807 a year.
More about Grand Lake
- Mortgage Refinance in Grand Lake
- Debt Relief in Grand Lake
- Home Equity Loans in Grand Lake
- 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