Counties with the lowest home prices in Colorado

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Bent County (Credit: Billy Hathorn/Wikimedia Commons)

DENVER (STACKER) – The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.

But all things are not equal when it comes to real estate in the United States.

Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in Colorado. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.

The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency’s House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.

Keep reading to discover which county in Colorado has the lowest home prices.

Montrose County (Credit: Jeffrey Beall/Wikimedia Commons)

#30. Montrose County

– Monthly mortgage payment in 2020: $877 (7.4% less than 2019)
– Monthly mortgage payment in 2019: $947
– Median home value in 2020: $236,800
– Ranked #2,621 out of 3,120 counties nationwide

Montezuma County (Credit: Jeffrey Beall/Wikimedia Commons)

#29. Montezuma County

– Monthly mortgage payment in 2020: $871 (5.9% less than 2019)
– Monthly mortgage payment in 2019: $926
– Median home value in 2020: $235,100
– Ranked #2,610 out of 3,120 counties nationwide

Morgan County (Credit: Jeffrey Beall/Wikimedia Commons)

#28. Morgan County

– Monthly mortgage payment in 2020: $786 (3.9% less than 2019)
– Monthly mortgage payment in 2019: $818
– Median home value in 2020: $212,300
– Ranked #2,476 out of 3,120 counties nationwide

Pueblo County (Credit: John Wark/Wikicommons)

#27. Pueblo County

– Monthly mortgage payment in 2020: $771 (0.5% less than 2019)
– Monthly mortgage payment in 2019: $775
– Median home value in 2020: $208,200
– Ranked #2,449 out of 3,120 counties nationwide

Rio Blanco County (Credit: Jeffrey Beall/Wikimedia Commons)

#26. Rio Blanco County

– Monthly mortgage payment in 2020: $770 (14.7% less than 2019)
– Monthly mortgage payment in 2019: $903
– Median home value in 2020: $208,000
– Ranked #2,446 out of 3,120 counties nationwide

Jackson County (Credit: Wusel007/Wikimedia Commons)

#25. Jackson County

– Monthly mortgage payment in 2020: $769 (11.5% less than 2019)
– Monthly mortgage payment in 2019: $869
– Median home value in 2020: $207,600
– Ranked #2,443 out of 3,120 counties nationwide

Yuma County (Credit: Jeffrey Beall/Wikimedia Commons)

#24. Yuma County

– Monthly mortgage payment in 2020: $749 (1.8% less than 2019)
– Monthly mortgage payment in 2019: $763
– Median home value in 2020: $202,400
– Ranked #2,402 out of 3,120 counties nationwide

Moffat County (Credit: RandieCraft/Wikimedia Commons)

#23. Moffat County

– Monthly mortgage payment in 2020: $712 (6.2% less than 2019)
– Monthly mortgage payment in 2019: $759
– Median home value in 2020: $192,400
– Ranked #2,329 out of 3,120 counties nationwide

Fremont County (Credit: Jeffrey Beall/Wikimedia Commons)

#22. Fremont County

– Monthly mortgage payment in 2020: $680 (6.3% less than 2019)
– Monthly mortgage payment in 2019: $726
– Median home value in 2020: $183,600
– Ranked #2,250 out of 3,120 counties nationwide

Rio Grande County (Credit: Jeffrey Beall/Wikimedia Commons)

#21. Rio Grande County

– Monthly mortgage payment in 2020: $672 (6.3% less than 2019)
– Monthly mortgage payment in 2019: $717
– Median home value in 2020: $181,500
– Ranked #2,226 out of 3,120 counties nationwide

Huerfano County (Credit: Jeffrey Beall/Wikimedia Commons)

#20. Huerfano County

– Monthly mortgage payment in 2020: $631 (9.7% less than 2019)
– Monthly mortgage payment in 2019: $699
– Median home value in 2020: $170,500
– Ranked #2,066 out of 3,120 counties nationwide

Phillips County (Credit: Jeffrey Beall/Wikimedia Commons)

#19. Phillips County

– Monthly mortgage payment in 2020: $619 (10.4% less than 2019)
– Monthly mortgage payment in 2019: $691
– Median home value in 2020: $167,300
– Ranked #2,027 out of 3,120 counties nationwide

#18. Logan County

– Monthly mortgage payment in 2020: $617 (10.2% less than 2019)
– Monthly mortgage payment in 2019: $687
– Median home value in 2020: $166,600
– Ranked #2,014 out of 3,120 counties nationwide

Alamosa County (Credit: Milan Suvajac/Wikimedia Commons)

#17. Alamosa County

– Monthly mortgage payment in 2020: $615 (12.1% less than 2019)
– Monthly mortgage payment in 2019: $700
– Median home value in 2020: $166,200
– Ranked #2,010 out of 3,120 counties nationwide

Saguache County (Credit: Jeffrey Beall/Wikimedia Commons)

#16. Saguache County

– Monthly mortgage payment in 2020: $597 (10.2% less than 2019)
– Monthly mortgage payment in 2019: $665
– Median home value in 2020: $161,100
– Ranked #1,923 out of 3,120 counties nationwide

Washington County (Credit: Jeffrey Beall/Wikimedia Commons)

#15. Washington County

– Monthly mortgage payment in 2020: $591 (4.2% less than 2019)
– Monthly mortgage payment in 2019: $617
– Median home value in 2020: $159,700
– Ranked #1,910 out of 3,120 counties nationwide

Las Animas County (Credit: Jeffrey Beall/Wikimedia Commons)

#14. Las Animas County

– Monthly mortgage payment in 2020: $590 (9.8% less than 2019)
– Monthly mortgage payment in 2019: $654
– Median home value in 2020: $159,400
– Ranked #1,907 out of 3,120 counties nationwide

Lincoln County (Credit: Ammodramus/Wikimedia Commons)

#13. Lincoln County

– Monthly mortgage payment in 2020: $575 (4.6% less than 2019)
– Monthly mortgage payment in 2019: $603
– Median home value in 2020: $155,200
– Ranked #1,852 out of 3,120 counties nationwide

Kit Carson County (Credit: Jeffrey Beall/Wikimedia Commons)

#12. Kit Carson County

– Monthly mortgage payment in 2020: $478 (23.6% less than 2019)
– Monthly mortgage payment in 2019: $626
– Median home value in 2020: $129,200
– Ranked #1,413 out of 3,120 counties nationwide

Conejos County (Credit: Jeffrey Beall/Wikimedia Commons)

#11. Conejos County

– Monthly mortgage payment in 2020: $471 (9.9% less than 2019)
– Monthly mortgage payment in 2019: $523
– Median home value in 2020: $127,200
– Ranked #1,377 out of 3,120 counties nationwide

Dolores County (Credit: Acroterion/Wikimedia Commons)

#10. Dolores County

– Monthly mortgage payment in 2020: $456 (11.5% less than 2019)
– Monthly mortgage payment in 2019: $515
– Median home value in 2020: $123,000
– Ranked #1,288 out of 3,120 counties nationwide

Costilla County (Credit: Jeffrey Beall/Wikimedia Commons)

#9. Costilla County

– Monthly mortgage payment in 2020: $442 (12.1% less than 2019)
– Monthly mortgage payment in 2019: $503
– Median home value in 2020: $119,200
– Ranked #1,171 out of 3,120 counties nationwide

Cheyenne County (Credit: Aualliso/Wikimedia Commons)

#8. Cheyenne County

– Monthly mortgage payment in 2020: $422 (8.7% less than 2019)
– Monthly mortgage payment in 2019: $462
– Median home value in 2020: $114,000
– Ranked #1,059 out of 3,120 counties nationwide

Prowers County (Credit: Aualliso/Wikimedia Commons)

#7. Prowers County

– Monthly mortgage payment in 2020: $415 (0.7% less than 2019)
– Monthly mortgage payment in 2019: $418
– Median home value in 2020: $112,000
– Ranked #1,015 out of 3,120 counties nationwide

Sedgwick County (Credit: Calvin Beale/Wikimedia Commons)

#6. Sedgwick County

– Monthly mortgage payment in 2020: $379 (2.3% less than 2019)
– Monthly mortgage payment in 2019: $388
– Median home value in 2020: $102,500
– Ranked #764 out of 3,120 counties nationwide

Otero County (Credit: Billy Hathorn/Wikimedia Commons)

#5. Otero County

– Monthly mortgage payment in 2020: $371 (9.3% less than 2019)
– Monthly mortgage payment in 2019: $409
– Median home value in 2020: $100,100
– Ranked #707 out of 3,120 counties nationwide

Kiowa County (Credit: Aualliso/Wikimedia Commons)

#4. Kiowa County

– Monthly mortgage payment in 2020: $338 (5.1% less than 2019)
– Monthly mortgage payment in 2019: $356
– Median home value in 2020: $91,300
– Ranked #490 out of 3,120 counties nationwide

Baca County (Credit: Aualliso/Wikimedia Commons)

#3. Baca County

– Monthly mortgage payment in 2020: $326 (10.7% less than 2019)
– Monthly mortgage payment in 2019: $365
– Median home value in 2020: $88,100
– Ranked #400 out of 3,120 counties nationwide

Bent County (Credit: Billy Hathorn/Wikimedia Commons)

#2. Bent County

– Monthly mortgage payment in 2020: $316 (11.7% less than 2019)
– Monthly mortgage payment in 2019: $358
– Median home value in 2020: $85,500
– Ranked #334 out of 3,120 counties nationwide

Crowley County (Credit: Jeffrey Beall/Wikimedia Commons)

#1. Crowley County

– Monthly mortgage payment in 2020: $310 (2.8% less than 2019)
– Monthly mortgage payment in 2019: $319
– Median home value in 2020: $83,800

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