CALCMONEY // HOME AFFORDABILITY // CO // DENVER
How much house can you afford in Denver? Based on local median home prices, current CO mortgage rates, and Denver property tax data.
$570,000
$3,502/mo
$150,084/yr
$250,769
Monthly housing costs of $3,502 represent 53.9% of Denver's median gross monthly income ($6,500/mo). At 53.9%, median-income buyers in Denver are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $570,000 |
| Down Payment (20%) | $114,000 |
| Loan Amount | $456,000 |
| Monthly PI Payment | $3,003 |
| Monthly Property Tax | $261 |
| Monthly Insurance Est. | $238 |
| Total Monthly PITI | $3,502 |
| Housing Cost % of Income | 53.9% |
| Required Income (28% rule) | $150,084/yr |
| Max Affordable Home | $250,769 |
$19,950
$4,511/mo
Denver Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $570,000 | Denver city median |
| Down Payment (20%) | $114,000 | Conventional loan |
| Monthly PITI | $3,502 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $150,084 | Annual gross |
| Max Affordable Home | $250,769 | Based on median income |
| FHA Down (3.5%) | $19,950 | Minimum FHA |
| Housing Cost % of Income | 53.9% | Median income: $78,000/yr |
| Property Tax Rate | 0.55% | $3,135/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Denver is $570,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $456,000, generating a monthly P&I payment of $3,003. Adding property taxes ($261/mo) and homeowners insurance ($238/mo) brings total monthly PITI to $3,502.
Denver's property tax rate of 0.55% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Denver median home, that is $261/month, or $3,135 per year.
Colorado levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Denver should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Denver's median income of $78,000/year can afford up to $1,820/month in total housing costs. Based on Denver's mortgage rate of 6.9% and property tax rate of 0.55%, that translates to a maximum affordable home price of approximately $250,769 with 20% down on a 30-year loan.
To afford the median Denver home priced at $570,000, you need an annual gross income of approximately $150,084. Total monthly housing costs (principal and interest of $3,003, property taxes of $261, and insurance of $238) come to $3,502/month, which equals 28% of the required income.
At the median home price of $570,000 and median household income of $78,000, the total monthly housing cost of $3,502 represents 53.9% of gross monthly income. This is well above the standard 28% threshold, making Denver a challenging market for buyers at median income.
A conventional 20% down payment on the median Denver home of $570,000 is $114,000. An FHA loan requires just 3.5% down — $19,950 — but adds mortgage insurance of roughly $390/month, bringing total FHA payments to $4,511/month.
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