Colorado Mortgage Calculator

Calculate your monthly mortgage payment in Colorado. Pre-filled with Colorado's average property tax rate of 0.51%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$149
Homeowner's Insurance
$100
Total Monthly Payment
$2,019

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,019/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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Colorado Housing Overview

Colorado has an average property tax rate of 0.51%. Colorado's cost of living is about 5% above the national average, with Denver and Boulder being notably more expensive.

Property Tax: 0.51%Flat 4.4% rateUses federal taxable income as baseGrowing tech job market in Denver-Boulder

Buying a Home in Colorado

If you're considering buying a home in Colorado, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills Colorado's average property tax rate of 0.51% to give you a more accurate estimate.

Colorado Property Taxes

Colorado has an average effective property tax rate of 0.51%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 0.51% rate means approximately $1785 per year, or $149 per month in property taxes alone.

Cost of Living in Colorado

Colorado's cost of living is about 5% above the national average, with Denver and Boulder being notably more expensive. When evaluating whether to buy a home in Colorado, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for Colorado Homebuyers

  • Colorado's flat 4.4% rate means your tax calculation is straightforward
  • Colorado uses federal taxable income — your federal deductions automatically reduce state taxes too
  • The growing Denver-Boulder tech corridor offers competitive salaries
  • Colorado has relatively moderate property taxes compared to neighboring states

Key Colorado Features

  • Flat 4.4% rate
  • Uses federal taxable income as base
  • Growing tech job market in Denver-Boulder

See How Your Colorado Mortgage Fits Your Financial Plan

This calculator shows your Colorado mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare Colorado Mortgage Costs with Other States

Wyoming0.57% property taxNebraska1.52% property taxKansas1.39% property taxCalifornia0.71% property taxTexas1.80% property taxFlorida0.89% property tax

Frequently Asked Questions

What is the average property tax rate in Colorado?
The average effective property tax rate in Colorado is approximately 0.51%. This rate is applied to the assessed value of your property, which may differ from the market value depending on Colorado's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in Colorado?
Your mortgage payment in Colorado depends on the home price, your down payment, interest rate, and loan term. With Colorado's average property tax rate of 0.51%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is Colorado an affordable state to buy a home?
Colorado's cost of living is about 5% above the national average, with Denver and Boulder being notably more expensive. When evaluating affordability in Colorado, consider not just the home price but also property taxes (0.51% average), homeowner's insurance costs, and any HOA fees common in your area.
How do Colorado property taxes compare to other states?
Colorado's average property tax rate of 0.51% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in Colorado?
Most states, including Colorado, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with Colorado's housing authority and the FHA, VA, and USDA loan programs for additional options.

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