A new 2022 study from SmartAsset ranks the most affordable places to live in Colorado. The eighth annual study weighed several factors, including taxes, homeowners’ insurance, and home costs relative to the local median income. Places where home ownership costs were lowest relative to the median income in each location were considered the most affordable.
Check out the list below for additional details on how the top places in Colorado ranked:
Rank City, State Avg. Closing Costs Annual Property Tax Annual Homeowner’s Insurance Avg. Annual Mortgage Payment Median Income Affordability Index 1 Federal Heights, CO $2,557 $437 $337 $3,960 $49,291 86.05 2 La Junta, CO $2,896 $491 $445 $5,236 $49,654 65.17 3 Lamar, CO $2,020 $533 $496 $5,827 $41,124 47.90 4 Johnstown, CO $2,757 $2,301 $1,711 $20,110 $115,069 37.67 5 Brush, CO $2,197 $948 $841 $9,887 $56,078 37.31 6 Roxborough Park, CO $2,954 $3,578 $2,077 $24,413 $140,994 37.00 7 Cimarron Hills, CO $2,361 $1,088 $1,096 $12,880 $71,342 36.94 8 Security-Widefield, CO $2,371 $1,115 $1,116 $13,118 $72,175 36.62 9 Pueblo West, CO $2,369 $1,556 $1,111 $13,057 $73,608 36.45 10 Derby, CO $2,301 $1,144 $973 $11,439 $63,071 35.99
The methodology and interactive map can be found here: [LINK]