Total monthly cost of ownership
Cost to Own a Home in Colorado City, Texas
A $61,000 home here costs
$708per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $314. The real number is $395 higher every month — 126% 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.
Colorado City against Mitchell County and Texas
| Measure | Colorado City | Mitchell County |
|---|---|---|
| Median home value | $61,100 | $85,700 |
| Median property tax | $1,055 | $1,680 |
| Effective tax rate | 1.727% | 1.960% |
| Median gross rent | $718 | $481 |
| Population | 3,973 | 8,989 |
The weather behind that power bill
Colorado City sits in Mitchell County, which averages a high of 96.7°F in its hottest month and a low of 28.2°F in its coldest, with 22" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 2,336 cooling and 2,803 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Mitchell County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mitchell County
Common questions
How much does it cost to own a home in Colorado City?
A $61,000 home in Colorado City, Texas costs approximately $708 per month with 20% down at 6.66%. That is $314 principal and interest, $88 property tax, $40 homeowners insurance, $216 utilities and $51 set aside for maintenance.
What is the property tax rate in Colorado City?
Colorado City has an effective property tax rate of 1.727%, based on a median home value of $61,100 and median real estate taxes of $1,055. That is lower than the Mitchell County average of 1.960%.
What is the average home price in Colorado City?
The median owner-occupied home value in Colorado City, Texas is $61,100, against $85,700 across Mitchell County.
Is it cheaper to rent or buy in Colorado City?
Median gross rent in Colorado City is $718 a month, against $708 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Colorado City — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Texas.
- 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.