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Mortgage Calculator &
Closing Costs: Canon City, CO

Mortgage payment estimates, closing cost breakdowns, and homebuying data for Canon City, Colorado.

Median Home Price
$295K
Population
17K
Avg Monthly Rent
$1,120
Property Tax Rate
0.51%
Canon City vs Colorado Median
The median home price in Canon City is $295,000, which is 43% below the Colorado state median of $520,000.

Mortgage Calculator — Canon City, CO

Pre-filled with Canon City median home price and Colorado tax/insurance rates. Adjust for your property.

$
$59,000
%
%
years
CO avg
%
$
Monthly Payment (PITI)
$1,884
Principal + Interest + Tax + Insurance + PMI
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Principal & Interest
$1,492
per month
Taxes & Insurance
$392
per month
Total Interest Paid
$301K
over 30 years
Total Loan Cost
$537K
all payments
Payment Breakdown
Loan Amount$236,000
Principal & Interest$1,492
Property Taxes$125
Homeowners Insurance$267
Total Monthly PITI$1,884

Closing Costs — Canon City, CO

Estimated closing costs based on Colorado rates and fees applied to Canon City prices.

$
%
Colorado: Avg closing costs 1.4% of price. Transfer tax: 0.01%.
Estimated Closing Costs
$10,698
3.6% of purchase price
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Lender Fees
$2,549
origination, underwriting
Third-Party
$2,925
appraisal, title, inspection
Government Fees
$30
transfer taxes, recording
Prepaids + Escrow
$5,195
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$2,124
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$1,775
Recording Fee$150
Transfer Tax$30
Prepaid Taxes (3 mo)$376
Prepaid Insurance (12 mo)$3,200
Prepaid Interest (15 days)$709
Escrow Reserves$909
Total Closing Costs$10,698

Buying a Home in Canon City, Colorado

The median home price in Canon City is $295,000, 43% below the Colorado state median of $520,000. With a population of 16,895, Canon City is a smaller market where home prices tend to be more accessible than in many parts of Colorado.

Property taxes in Colorado average 0.51% annually. This low property tax rate is a significant advantage for Canon City buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Colorado runs approximately $3,200 per year. Insurance costs are notably high — factor this into your monthly budget.

Average rent in Canon City is $1,120/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.

Canon City presents moderate affordability. The $295K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.

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Compare total costs of renting vs buying in Canon City.
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