How Much House Can I Afford in Colorado on $90K?
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 $300K budget by $220K. But many areas in Colorado have homes well below the median. Check the affordable cities below for areas within your budget.
Affordable Cities in Colorado on $90K
These Colorado cities have median home prices within your $300K budget.
Up to $25,000 second mortgage. First-time buyers in Colorado should explore this program to reduce upfront costs. Combined with your $300K budget, state assistance can significantly lower the cash you need to close.
Buying a Home in Colorado on $90K
In Colorado, your $90K 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 $300K, close to the $295K 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 $300K home, you would pay just $1,529/yr in property taxes — only $127/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 $29,988 down payment, you will need approximately $37K 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.