CALCMONEY // MORTGAGE // CO // COLORADO SPRINGS
Calculate your monthly mortgage payment using Colorado Springs-specific property tax rates and local market data.
$445,000
6.9%
0.53%
98
| Principal & Interest | $2,345 |
| Property Tax | $197 |
| Homeowners Insurance (est.) | $148 |
| Total Monthly Payment (PITI) | $2,689 |
$89,000
$488,062
$115,264/yr
Colorado Springs's median home price sits at $445,000, 6% above the $420,000 national median. On a $72,000 median household income, that puts the price-to-income ratio at 6.2x, or 6.2 years of gross pay for the purchase price alone.
Colorado Springs's 0.53% property tax rate runs below the 1.1% national average. That's $197/month on the median home here, not a rounding error against the mortgage payment.
Colorado levies a state income tax on top of the $2,689/month this mortgage runs. Model your real after-tax take-home before deciding how much payment you can carry.
Colorado Springs's cost of living index is 98, below the 100 national baseline. That's on top of the housing numbers above, not instead of them.
Colorado Springs's median home price runs 22% lower than nearby Denver: $570,000 there versus $445,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $356,000 loan saves $16,020 in interest over 30 years.
Compare Top Colorado Springs Mortgage Lenders