Total monthly cost of ownership
Cost to Own a Home in Elizabeth, Colorado
A $444,000 home here costs
$3,221per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,283. The real number is $938 higher every month — 41% 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.
Elizabeth against Elbert County and Colorado
| Measure | Elizabeth | Elbert County |
|---|---|---|
| Median home value | $444,000 | $664,600 |
| Median property tax | $2,711 | $2,981 |
| Effective tax rate | 0.611% | 0.449% |
| Median gross rent | $1,526 | $1,436 |
| Population | 1,694 | 27,152 |
The weather behind that power bill
Elizabeth sits in Elbert County, which averages a high of 87.2°F in its hottest month and a low of 9.9°F in its coldest, with 14.97" of precipitation a year and 50% of it in a single three-month stretch. That climate drives 403 cooling and 7,024 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Elbert County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Elbert County
Full Elbert County cost breakdown · Every county in Colorado
Common questions
How much does it cost to own a home in Elizabeth?
A $444,000 home in Elizabeth, Colorado costs approximately $3,221 per month with 20% down at 6.66%. That is $2,283 principal and interest, $226 property tax, $129 homeowners insurance, $213 utilities and $370 set aside for maintenance.
What is the property tax rate in Elizabeth?
Elizabeth has an effective property tax rate of 0.611%, based on a median home value of $444,000 and median real estate taxes of $2,711. That is higher than the Elbert County average of 0.449%.
What is the average home price in Elizabeth?
The median owner-occupied home value in Elizabeth, Colorado is $444,000, against $664,600 across Elbert County.
Is it cheaper to rent or buy in Elizabeth?
Median gross rent in Elizabeth is $1,526 a month, against $3,221 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 Elizabeth — 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.