The typical owner-occupied home in Hot Sulphur Springs is worth about $389,900, 28% below the Colorado median of $539,400 and 17% above the national median of $332,700. Owners pay a median $1,437 a year in property taxes, about 0.37% of their home's value, lower than the Colorado rate of 0.48%. The median household earns $106,600 a year, so the median home costs 3.7 times the median income (5.6 times for Colorado). 85% of occupied homes here are lived in by their owners, and 79% of those owners still have a mortgage.
Hot Sulphur Springs at a glance
| Hot Sulphur Springs | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $389,900 | $539,400 | $332,700 |
| Median property tax paid per year | $1,437 | $2,602 | $3,119 |
| Property tax as a share of value | 0.37% | 0.48% | 0.94% |
| Median household income | $106,600 | $95,470 | $80,734 |
| Homes lived in by their owners | 85% | 66% | 65% |
| Owner homes with a mortgage | 79% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $2,197 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 26.1% | 22.1% | 21.0% |
| Median rent | $1,484 | $1,761 | $1,413 |
| Rent as a share of renters' income | 14.7% | 31.4% | 30.6% |
| Median year homes were built | 1974 | 1988 | 1980 |
| Vacant homes | 15.4% | 8.3% | 10.1% |
| Population | 1,108 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Hot Sulphur Springs
At this week's average 30-year rate of 7.11%, buying the median Hot Sulphur Springs home of $389,900 with 20% down costs about $2,381 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,031, 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 $102,042 for the 20%-down payment. That payment is 27% of the median Hot Sulphur Springs household income of $106,600; at that income and 20% down, the 28% guideline points to a home of about $407,000.
The median rent here is $1,484 a month, so owning the median home costs about $897 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $77,980 |
|---|---|
| Loan amount | $311,920 |
| Principal and interest | $2,098 |
| Property taxes (0.37% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $162 |
| PMI | $0 |
| Total per month | $2,381 |
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| Down payment | $13,646 |
|---|---|
| Loan amount | $382,838 |
| Principal and interest | $2,575 |
| Property taxes (0.37% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $162 |
| FHA mortgage insurance | $172 |
| Total per month | $3,031 |
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Questions about home buying in Hot Sulphur Springs
What is the median home value in Hot Sulphur Springs?
About $389,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hot Sulphur Springs?
Homeowners pay a median $1,437 a year, which is about 0.37% 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 Hot Sulphur Springs?
For the median home with 20% down at 7.11%, the payment is about $2,381 a month. Keeping that under 28% of gross income takes about $102,042 a year.
More about Hot Sulphur Springs
- Mortgage Refinance in Hot Sulphur Springs
- Debt Relief in Hot Sulphur Springs
- Home Equity Loans in Hot Sulphur Springs
- 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