CALCMONEY // HOME AFFORDABILITY // CO
Find out how much home you can afford in Colorado using local median home prices, current mortgage rates, and CO-specific property tax data.
Open Full Calculator$540,000
$3,300/mo
$277,767
$141,414/yr
| Median Home Price | $540,000 |
| Down Payment (20%) | $108,000 |
| Loan Amount | $432,000 |
| Monthly PI Payment | $2,845 |
| Monthly Property Tax | $230 |
| Monthly Insurance Est. | $225 |
| Total Monthly PITI | $3,300 |
| Required Gross Income (28% rule) | $141,414/yr |
| Max Affordable Price (28% rule) | $277,767 |
$18,900
$4,256/mo
Colorado Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $540,000 | State median |
| Down Payment (20%) | $108,000 | Conventional |
| Monthly PITI (median home) | $3,300 | 6.9% rate |
| Required Income (28% rule) | $141,414 | Annual gross |
| Max Affordable Home | $277,767 | Based on median income |
| FHA Down Payment (3.5%) | $18,900 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Colorado is $540,000, with a current 30-year fixed mortgage rate of 6.9%. A buyer putting 20% down on the median home would carry a loan of $432,000, resulting in a monthly principal and interest payment of $2,845. Once property taxes and insurance are added, total monthly housing costs reach $3,300.
Property taxes in Colorado average 0.51%, well below the national average of 1.1%. On the median Colorado home, property taxes add $230/month to total housing costs.
Colorado levies a state income tax of 4.4% flat, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Colorado state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Colorado's median income of $82,200/year can afford up to $1,918/month in total housing costs (principal, interest, taxes, and insurance). Based on Colorado's current mortgage rate of 6.9% and property tax rate of 0.51%, that translates to a maximum affordable home price of approximately $277,767 with 20% down on a 30-year loan.
To comfortably afford the median Colorado home priced at $540,000, you need an annual gross income of approximately $141,414. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $2,845, property taxes of $230, and insurance of $225) come to $3,300/month, which should not exceed 28% of your gross monthly income.
Colorado's average property tax rate is 0.51%, which is well below the national average of 1.1%. On the median Colorado home of $540,000, that means annual property taxes of $2,754, or $230/month. Because lenders include property taxes in your debt-to-income calculation, Colorado's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Colorado home of $540,000, that is $18,900. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($108,000 on the median Colorado home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Colorado-specific minimum down payment requirements beyond federal guidelines.