The typical owner-occupied home in Colony is worth about $69,600, 68% below the Kansas median of $217,200 and 79% below the national median of $332,700. Owners pay a median $1,141 a year in property taxes, about 1.64% of their home's value, higher than the Kansas rate of 1.29%. The median household earns $37,500 a year, so the median home costs 1.9 times the median income (2.9 times for Kansas). 67% of occupied homes here are lived in by their owners, and 23% of those owners still have a mortgage.
Colony at a glance
| Colony | Kansas | U.S. | |
|---|---|---|---|
| Median home value | $69,600 | $217,200 | $332,700 |
| Median property tax paid per year | $1,141 | $2,798 | $3,119 |
| Property tax as a share of value | 1.64% | 1.29% | 0.94% |
| Median household income | $37,500 | $74,275 | $80,734 |
| Homes lived in by their owners | 67% | 67% | 65% |
| Owner homes with a mortgage | 23% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $525 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 21.5% | 19.4% | 21.0% |
| Median rent | $578 | $1,060 | $1,413 |
| Rent as a share of renters' income | 16.4% | 27.1% | 30.6% |
| Median year homes were built | 1952 | 1976 | 1980 |
| Vacant homes | 24.2% | 9.2% | 10.1% |
| Population | 335 | 2,947,197 | 334,922,499 |
What a typical home costs per month in Colony
At this week's average 30-year rate of 7.11%, buying the median Colony home of $69,600 with 20% down costs about $499 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $615, 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 $21,372 for the 20%-down payment. That payment is 16% of the median Colony household income of $37,500; at that income and 20% down, the 28% guideline points to a home of about $122,000.
The median rent here is $578 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $13,920 |
|---|---|
| Loan amount | $55,680 |
| Principal and interest | $375 |
| Property taxes (1.64% a year) | $95 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| PMI | $0 |
| Total per month | $499 |
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| Down payment | $2,436 |
|---|---|
| Loan amount | $68,339 |
| Principal and interest | $460 |
| Property taxes (1.64% a year) | $95 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| FHA mortgage insurance | $31 |
| Total per month | $615 |
Change the numbers in the calculator
Questions about home buying in Colony
What is the median home value in Colony?
About $69,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Colony?
Homeowners pay a median $1,141 a year, which is about 1.64% 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 Colony?
For the median home with 20% down at 7.11%, the payment is about $499 a month. Keeping that under 28% of gross income takes about $21,372 a year.
More about Colony
- Mortgage Refinance in Colony
- Debt Relief in Colony
- Home Equity Loans in Colony
- 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