Mortgage Calculator & Closing Costs: Grand Junction, CO
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Grand Junction, Colorado.
Median Home Price
$365K
Population
66K
Avg Monthly Rent
$1,280
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 Grand Junction.
Grand Junction vs Colorado Median
The median home price in Grand Junction is $365,000, which is 30% below the Colorado state median of $520,000.
Mortgage Calculator — Grand Junction, CO
Pre-filled with Grand Junction median home price and Colorado tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $365K home using Colorado's 0.51% tax rate and $3,200/yr insurance.
5% Down
$2,816/mo
Down: $18,250
Loan: $347K
P&I: $2,192
Tax: $155
Insurance: $267
PMI: $202
10% Down
$2,690/mo
Down: $36,500
Loan: $329K
P&I: $2,076
Tax: $155
Insurance: $267
PMI: $192
20% Down (No PMI)
$2,267/mo
Down: $73,000
Loan: $292K
P&I: $1,846
Tax: $155
Insurance: $267
Income needed (28% rule): $97K/year with 20% down, $115K/year with 10% down.
Rent vs Buy in Grand Junction
Rent
$1,280/mo
vs
Buy (10% down)
$2,690/mo
Price-to-rent ratio: 23.8 — At a ratio above 20, renting may be more economical in Grand Junction for shorter stays. Buying costs $1,410 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 Grand Junction is $365,000, 30% below the Colorado state median of $520,000. With a population of 65,991, Grand Junction 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 Grand Junction 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 Grand Junction is $1,280/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.
Grand Junction presents moderate affordability. The $365K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Grand Junction.