Mortgage payment estimates, closing cost breakdowns, and homebuying data for Durango, Colorado.
Median Home Price
$625K
Population
19K
Avg Monthly Rent
$1,850
Property Tax Rate
0.51% *
* Property tax shown is the Colorado state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Durango.
Durango vs Colorado Median
The median home price in Durango is $625,000, which is 20% above the Colorado state median of $520,000.
Mortgage Calculator — Durango, CO
Pre-filled with Durango median home price and Colorado tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $625K home using Colorado's 0.51% tax rate and $3,200/yr insurance.
5% Down
$4,632/mo
Down: $31,250
Loan: $594K
P&I: $3,753
Tax: $266
Insurance: $267
PMI: $346
10% Down
$4,416/mo
Down: $62,500
Loan: $563K
P&I: $3,555
Tax: $266
Insurance: $267
PMI: $328
20% Down (No PMI)
$3,693/mo
Down: $125,000
Loan: $500K
P&I: $3,160
Tax: $266
Insurance: $267
Income needed (28% rule): $158K/year with 20% down, $189K/year with 10% down.
Rent vs Buy in Durango
Rent
$1,850/mo
vs
Buy (10% down)
$4,416/mo
Price-to-rent ratio: 28.2 — At a ratio above 20, renting may be more economical in Durango for shorter stays. Buying costs $2,566 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Durango is $625,000, 20% above the Colorado state median of $520,000. With a population of 19,117, Durango is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Colorado average 0.51% annually. This low property tax rate is a significant advantage for Durango 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 Durango is $1,850/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.
Durango is a higher-cost market. At $625K median, buyers need significant savings or strong income. Down payment assistance through Colorado's CHFA Down Payment Assistance program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Durango.