Total monthly cost of ownership
Cost to Own a Home in Colby, Kansas
A $151,000 home here costs
$1,381per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $776. The real number is $604 higher every month — 78% 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.
Colby against Thomas County and Kansas
| Measure | Colby | Thomas County |
|---|---|---|
| Median home value | $150,700 | $165,900 |
| Median property tax | $2,232 | $2,192 |
| Effective tax rate | 1.481% | 1.321% |
| Median gross rent | $736 | $753 |
| Population | 5,389 | 7,913 |
The weather behind that power bill
Colby sits in Thomas County, which averages a high of 91.0°F in its hottest month and a low of 15.1°F in its coldest, with 20.39" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 1,069 cooling and 5,851 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Thomas County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Thomas County
Common questions
How much does it cost to own a home in Colby?
A $151,000 home in Colby, Kansas costs approximately $1,381 per month with 20% down at 6.66%. That is $776 principal and interest, $186 property tax, $88 homeowners insurance, $204 utilities and $126 set aside for maintenance.
What is the property tax rate in Colby?
Colby has an effective property tax rate of 1.481%, based on a median home value of $150,700 and median real estate taxes of $2,232. That is higher than the Thomas County average of 1.321%.
What is the average home price in Colby?
The median owner-occupied home value in Colby, Kansas is $150,700, against $165,900 across Thomas County.
Is it cheaper to rent or buy in Colby?
Median gross rent in Colby is $736 a month, against $1,381 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 Colby — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Kansas.
- 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.