Total monthly cost of ownership
Cost to Own a Home in Centennial, Colorado
A $627,000 home here costs
$4,423per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $3,223. The real number is $1,199 higher every month — 37% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Centennial against Arapahoe County and Colorado
| Measure | Centennial | Arapahoe County |
|---|---|---|
| Median home value | $626,700 | $526,000 |
| Median property tax | $3,378 | $2,767 |
| Effective tax rate | 0.539% | 0.526% |
| Median gross rent | $2,061 | $1,812 |
| Population | 107,386 | 655,709 |
The weather behind that power bill
Centennial sits in Arapahoe County, which averages a high of 89.9°F in its hottest month and a low of 18.4°F in its coldest, with 14.48" of precipitation a year and 43% of it in a single three-month stretch. That climate drives 850 cooling and 5,862 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Arapahoe County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Arapahoe County
Full Arapahoe County cost breakdown · Every county in Colorado
Common questions
How much does it cost to own a home in Centennial?
A $627,000 home in Centennial, Colorado costs approximately $4,423 per month with 20% down at 6.66%. That is $3,223 principal and interest, $282 property tax, $182 homeowners insurance, $213 utilities and $523 set aside for maintenance.
What is the property tax rate in Centennial?
Centennial has an effective property tax rate of 0.539%, based on a median home value of $626,700 and median real estate taxes of $3,378. That is higher than the Arapahoe County average of 0.526%.
What is the average home price in Centennial?
The median owner-occupied home value in Centennial, Colorado is $626,700, against $526,000 across Arapahoe County.
Is it cheaper to rent or buy in Centennial?
Median gross rent in Centennial is $2,061 a month, against $4,423 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Centennial — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Colorado.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.