Total monthly cost of ownership
Cost to Own a Home in Grand Junction, Colorado
A $358,000 home here costs
$2,654per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $113,500 a year.
A standard mortgage calculator would have told you $1,952. The real number is $702 higher every month, 36% more than the payment most buyers budget for.
Compare Mesa 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.
Grand Junction against Mesa County and Colorado
| Measure | Grand Junction | Mesa County |
|---|---|---|
| Median home value | $358,300 | $349,400 |
| Median property tax | $1,394 | $1,357 |
| Effective tax rate | 0.389% | 0.388% |
| Median gross rent | $1,101 | $1,154 |
| Population | 67,027 | 157,316 |
The weather behind that power bill
Grand Junction sits in Mesa County, which averages a high of 93.1°F in its hottest month and a low of 19.2°F in its coldest, with 8.89" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 1,284 cooling and 5,259 heating degree days, which is what sets the $116 electricity line above.
See the full climate breakdown for Mesa County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mesa County
Talk to someone who works this market
These are Grand Junction 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 Grand Junction every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Grand Junction I already own here and may sell
Common questions
How much does it cost to own a home in Grand Junction?
A $358,000 home in Grand Junction, Colorado costs approximately $2,654 per month with 20% down at 7.24%. That is $1,952 principal and interest, $116 property tax, $104 homeowners insurance, $184 utilities and $298 set aside for maintenance.
What is the property tax rate in Grand Junction?
Grand Junction has an effective property tax rate of 0.389%, based on a median home value of $358,300 and median real estate taxes of $1,394. That is in line with the Mesa County average of 0.388%.
What is the average home price in Grand Junction?
The median owner-occupied home value in Grand Junction, Colorado is $358,300, against $349,400 across Mesa County.
Is it cheaper to rent or buy in Grand Junction?
Median gross rent in Grand Junction is $1,101 a month, against $2,654 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Grand Junction?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Grand Junction, Colorado at today's rate takes a household income of roughly $113,500 a year. That covers the full $2,654 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Grand Junction, 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.