The calculator is pre-filled for a $574,600 home (the Colorado median, ranked 6th of 51) with 20% down at 7.40%. That comes to $3,625.06 a month: $3,182.73 principal and interest, $234.67 tax, $207.67 insurance. With 5% down and PMI it is $4,449.27.
Homestead exemptions and property tax relief
For 2026, residential property is assessed at 6.80% of value for local taxes and 7.05% for school taxes, after the first $700,000 of value is cut by 10%. Owners 65 and older who have lived in the home for 10 years get 50% off the first $200,000 of value through the senior exemption. Disabled veterans get the same benefit.
First-time buyer programs
The Colorado Housing and Finance Authority offers down payment assistance in two forms: a grant of up to the lesser of $25,000 or 3% of the first mortgage that never has to be repaid, or a 0% deferred second mortgage of up to $25,000 or 4%, repaid when you sell or refinance. You cannot combine them.
Transfer and recording taxes
Colorado has a small state documentary fee of $0.01 per $100, about $57 on a $574,600 home. A few mountain towns charge their own transfer taxes.
Closing costs to plan for
In most areas Colorado's government fees are small. Watch for HOA transfer fees and transfer taxes in resort towns.
When property tax bills are due
Colorado property taxes are paid in arrears. You can pay in two equal halves, by the last day of February and by June 15, or in one payment by April 30. A late half draws 1% interest a month. The county treasurer mails the statement in January, so a buyer who closes in winter often pays the previous year's bill using the seller's prorated credit.
Before you buy in Colorado
Colorado's senior exemption only helps long-time owners: you must be 65 by January 1 and have owned and lived in the home for at least 10 consecutive years. Once you qualify, it exempts 50% of the first $200,000 of actual value, if the state budget allows. The application window is January 1 to July 15, and late applications accepted through August 15 lose appeal rights. Many newer neighborhoods sit in special districts whose levies appear on the same bill, so check the full levy for the parcel before you compare houses.
2026 loan limit in Colorado
FHFA 2026 one-unit conforming limits: 20 of 64 counties run above $832,750, peaking at $1,249,125 in Eagle County. A median-home loan of $459,680 is conforming.
Colorado numbers used above
| Measure | Colorado | U.S. |
|---|---|---|
| Median home value (ACS 2024) | $574,600 | $360,600 |
| Effective property tax rate | 0.49% (42nd highest) | 0.89% |
| Average HO-3 premium (NAIC 2023) | $2,492 | $1,737 |
| Median household income | $97,113 | $81,604 |
| Median gross rent | $1,822 | $1,487 |
| Income needed at 28% (20% down) | $155,360 | – |
Frequently asked questions
When are Colorado property taxes due?
Half by the last day of February and half by June 15, or the full amount by April 30.
Who qualifies for Colorado's senior exemption?
Owners 65 or older on January 1 who have owned and lived in the home for at least 10 consecutive years. Apply by July 15.
How much is the Colorado senior exemption?
When the state budget allows, 50% of the first $200,000 of actual value.
What is the median-home payment in Colorado?
About $3,625.06 a month on a $574,600 home with 20% down at 7.40%, including tax and insurance.
Sources
- C.R.S. 39-10-104.5
- Colorado DPT, senior exemption
- Colorado Division of Property Taxation
- CHFA down payment assistance
- FHFA, 2026 conforming loan limits
- Census ACS 2024 1-year (B25077, B25103, B19013, B25064); NAIC homeowners report (2023); Freddie Mac PMMS.
See also: all states · house affordability · Colorado paycheck