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$538,932
$3,248/mo
$349,793
$139,216/yr
| Median Home Price | $538,932 |
| Down Payment (20%) | $107,786 |
| Loan Amount | $431,146 |
| Monthly PI Payment | $2,799 |
| Monthly Property Tax | $225 |
| Monthly Insurance Est. | $225 |
| Total Monthly PITI | $3,248 |
| Required Gross Income (28% rule) | $139,216/yr |
| Max Affordable Price (28% rule) | $349,793 |
$18,863
$4,194/mo
Colorado Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $538,932 | State median |
| Down Payment (20%) | $107,786 | Conventional |
| Monthly PITI (median home) | $3,248 | 6.76% rate |
| Required Income (28% rule) | $139,216 | Annual gross |
| Max Affordable Home | $349,793 | Based on median income |
| FHA Down Payment (3.5%) | $18,863 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Colorado is $538,932, with a current 30-year fixed mortgage rate of 6.76%. A buyer putting 20% down on the median home would carry a loan of $431,146, resulting in a monthly principal and interest payment of $2,799. Once property taxes and insurance are added, total monthly housing costs reach $3,248.
Property taxes in Colorado average 0.5%, well below the national average of 1.1%. On the median Colorado home, property taxes add $225/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 $97,113/year can afford up to $2,266/month in total housing costs (principal, interest, taxes, and insurance). Based on Colorado's current mortgage rate of 6.76% and property tax rate of 0.5%, that translates to a maximum affordable home price of approximately $349,793 with 20% down on a 30-year loan.
To comfortably afford the median Colorado home priced at $538,932, you need an annual gross income of approximately $139,216. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $2,799, property taxes of $225, and insurance of $225) come to $3,248/month, which should not exceed 28% of your gross monthly income.
Colorado's average property tax rate is 0.5%, which is well below the national average of 1.1%. On the median Colorado home of $538,932, that means annual property taxes of $2,695, or $225/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 $538,932, that is $18,863. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($107,786 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.