Total monthly cost of ownership
Cost to Own a Home in Cherry Hills Village, Colorado
A $2,000,000 home here costs
$14,384per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $616,500 a year.
A standard mortgage calculator would have told you $11,078. The real number is $3,306 higher every month, 30% more than the payment most buyers budget for.
Compare Arapahoe County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Cherry Hills Village against Arapahoe County and Colorado
| Measure | Cherry Hills Village | Arapahoe County |
|---|---|---|
| Median home value | $2,000,000+ | $526,000 |
| Median property tax | $10,001 | $2,767 |
| Effective tax rate | 0.526% | 0.526% |
| Median gross rent | — | $1,812 |
| Population | 6,366 | 655,709 |
The weather behind that power bill
Cherry Hills Village 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 $115 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
Talk to someone who works this market
These are Cherry Hills Village averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Cherry Hills Village every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Cherry Hills Village I already own here and may sell
Common questions
How much does it cost to own a home in Cherry Hills Village?
A $2,000,000 home in Cherry Hills Village, Colorado costs approximately $14,384 per month with 20% down at 7.4%. That is $11,078 principal and interest, $877 property tax, $580 homeowners insurance, $183 utilities and $1,667 set aside for maintenance.
What is the property tax rate in Cherry Hills Village?
Place-level tax data is not published for Cherry Hills Village, so the Arapahoe County rate of 0.526% applies here.
What is the average home price in Cherry Hills Village?
The median owner-occupied home value in Cherry Hills Village, Colorado is above $2 million (the Census reporting cap), against $526,000 across Arapahoe County.
Is it cheaper to rent or buy in Cherry Hills Village?
Rent data is not published for Cherry Hills Village at this level of detail.
What salary do you need to buy a home in Cherry Hills Village?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Cherry Hills Village, Colorado at today's rate takes a household income of roughly $616,500 a year. That covers the full $14,384 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cherry Hills Village, 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.