How Much House Can I Afford in Colorado on $75K?
Based on Colorado's 0.51% property tax rate and $3,200/yr homeowners insurance.
Can You Afford the Median Home in Colorado?
The median home in Colorado ($520K) exceeds your $243K budget by $277K. But many areas in Colorado have homes well below the median. Check the affordable cities below for areas within your budget.
Most Affordable Cities in Colorado
No tracked cities in Colorado have a median below your $243K budget. Here are the most affordable options.
Up to $25,000 second mortgage. First-time buyers in Colorado should explore this program to reduce upfront costs. Combined with your $243K budget, state assistance can significantly lower the cash you need to close.
Buying a Home in Colorado on $75K
In Colorado, your $75K salary buys roughly the same as the national average. With a 0.51% property tax rate and $3,200/yr insurance, your maximum affordable price is $243K, close to the $242K you would get using national averages. This means Colorado's overall housing costs are in line with most of the country.
Colorado's 0.51% property tax rate is one of the lowest in the country, which is a major advantage for homebuyers. On a $243K home, you would pay just $1,237/yr in property taxes — only $103/mo. This low tax burden is why your purchasing power in Colorado exceeds the national average. More of your monthly payment goes toward building equity rather than taxes.
Budget $7K for closing costs in Colorado (roughly 1.4% of the purchase price). Combined with your $24,263 down payment, you will need approximately $32K in cash to close. CHFA Down Payment Assistance may help offset these costs — contact them early in the process to understand eligibility and timelines. Get pre-approved with a Colorado-based lender who understands local programs and can close efficiently.