A new national study from Bankrate is shedding light on the true cost of homeownership across the United States—and Colorado is emerging as one of the more expensive places to own a home.
According to the report, the average annual cost of homeownership in Colorado stands at $25,766, placing it well above many other states and reinforcing the state’s reputation as a high-cost housing market.
The study examined a range of ongoing expenses beyond just a mortgage payment, including property taxes, homeowners insurance, utilities, maintenance, and other hidden costs that often catch buyers off guard. These factors are becoming increasingly important as prospective homeowners evaluate affordability in today’s market.
Colorado’s elevated costs reflect a combination of strong demand, rising property values, and the state’s continued population growth. Cities like Denver, Boulder, and Colorado Springs have seen sustained interest from out-of-state buyers, particularly those relocating for jobs, lifestyle, and access to outdoor recreation.
For potential buyers—especially those considering a move to Colorado—the findings highlight the importance of budgeting beyond the purchase price. While the state continues to attract newcomers with its strong economy and quality of life, the ongoing cost of ownership is a key factor that can significantly impact long-term affordability.
As housing markets across the country continue to shift, studies like Bankrate’s offer a clearer picture of what it really takes to own a home—and in Colorado, that price tag remains notably high.