Nature lovers and outdoor enthusiasts looking for an affordable place to live will fall in love with Colorado. From jaw-dropping waterfalls to spectacular mountain ranges, not to mention plenty of homebuyer assistance, Colorado is packed with scenic places to explore, along with affordably-priced cities that are perfect to build your new home in. NewHomeSource has found the top 10 most affordable cities in Colorado to help you in your home search.
Home Price to Income Ratio: 1.42%
Average Property Tax: $405
Median Household Income: $45,395
Federal Heights is the most affordable city to retire in Colorado. This diverse suburb of Denver would be a great place to raise a family. Residents enjoy nature reserves, golf courses, museums, and dining at tasty restaurants. Additionally, you can take a 30-minute drive to Denver when you want to indulge in the bright lights.
Home Price to Income Ratio: 3%
Average Property Tax: $807
Median Household Income: $45,647
Sterling is located in northeastern Colorado and offers a small-town atmosphere with a family-oriented community. Residents can spend their days learning more about the state’s rich history at the many museums, exploring downtown, or taking a stroll at Pawnee National Grasslands.
Home Price to Income Ratio: 3.34%
Average Property Tax: $917
Median Household Income: $50,823
Those looking for an affordable place to live that’s off the beaten path of big city life may want to check out the natural beauty of Fort Morgan. In this laid-back city, you can hike, enjoy a boat ride, enjoy a sunset or sunrise, and even visit alpacas.
Home Price to Income Ratio: 3.49%
Average Property Tax: $945
Median Household Income: $40,450
Pueblo is filled with unique locations and exciting recreational activities to keep residents of all ages busy. Folks who decide to live in Pueblo can spend their days learning about its intriguing history, boating across the Arkansas River, or hiking at Lake Pueblo State Park.
Home Price to Income Ratio: 3.46%
Average Property Tax: $982
Median Household Income: $46,494
Located in the heart of Colorado is Cañon City. Nature lovers and outdoor enthusiasts will be mesmerized by the Garden Park Fossil Area, Royal Gorge, Echo Canyon River, and Red Canyon Park. These are only a few of the innumerable exciting places in Cañon City where residents can enjoy the outdoors. Also, don’t forget to drive along Skyline Drive to witness one of the most scenic sites in Colorado.
Home Price to Income Ratio: 4.3%
Average Property Tax: $1,263
Median Household Income: $57,586
Greeley is located between Denver and Cheyenne and marks an imaginary border between developed and undeveloped parts of Colorado. Folks living in Greeley will most likely spend most of their time in the downtown area. Downtown Greeley has everything you could need from parks to shops to galleries and restaurants.
Home Price to Income Ratio: 3.75%
Average Property Tax: $1,140
Median Household Income: $59,527
Evans is located near Greeley and Fort Collins and is only a one-hour drive from Denver. Residents can spend their days at Rocky Mountain National Park or take a day trip to nearby cities to experience art, historical, cultural, and outdoor activities.
Home Price to Income Ratio: 4.58%
Average Property Tax: $931
Median Household Income: $46,250
Montrose is consistently ranked one of the top places to live in Colorado, and one reason is its affordability. It is also surrounded by national forests, parks, and recreation areas, making it a one-of-a-kind city.
Home Price to Income Ratio: 4.49%
Average Property Tax: $1,877
Median Household Income: $66,300
Northglenn truly has everything one could wish for in a place to call home. It is bathed by sunlight about 300 days a year and provides breathtaking views of the Rocky Mountains. Additionally, there are savory restaurants, fun cafes, and intriguing museums just waiting to be explored.
Home Price to Income Ratio: 4.52%
Average Property Tax: $1,091
Median Household Income: $52,504
Grand Junction is a small city located on the western slope of the Rocky Mountains. Colorado National Monument, Croke Reservoir, and James M. Robb Colorado River State Park are just a few spots in Grand Junction to enjoy the stunning views.
Cities with Best Home Price-to-Income Ratio
While the list above is sorted by the lowest overall cost of living index, the following cities have the lowest home price to income ratio, meaning you can get more home for your money.
- Federal Heights
- Fort Morgan
Other Colorado Resources
Drew Port is a writer for NewHomeSource. She writes on the homebuying process, as well as informing readers on homeownership.