Total monthly cost of ownership
Cost to Own a Home in Lamar, Colorado
A $137,000 home here costs
$1,123per 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 $48,000 a year.
A standard mortgage calculator would have told you $747. The real number is $376 higher every month, 50% more than the payment most buyers budget for.
Compare Prowers 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.
Lamar against Prowers County and Colorado
| Measure | Lamar | Prowers County |
|---|---|---|
| Median home value | $137,100 | $150,900 |
| Median property tax | $466 | $494 |
| Effective tax rate | 0.340% | 0.327% |
| Median gross rent | $844 | $741 |
| Population | 7,629 | 11,931 |
The weather behind that power bill
Lamar sits in Prowers County, which averages a high of 95.4°F in its hottest month and a low of 13.9°F in its coldest, with 13.35" of precipitation a year and 54% of it in a single three-month stretch. That climate drives 1,315 cooling and 5,284 heating degree days, which is what sets the $116 electricity line above.
See the full climate breakdown for Prowers County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Prowers County
No other places of this size are published in Prowers County.
Full Prowers County cost breakdown · Every county in Colorado
Talk to someone who works this market
These are Lamar 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 Lamar every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Lamar?
A $137,000 home in Lamar, Colorado costs approximately $1,123 per month with 20% down at 7.24%. That is $747 principal and interest, $39 property tax, $40 homeowners insurance, $184 utilities and $114 set aside for maintenance.
What is the property tax rate in Lamar?
Lamar has an effective property tax rate of 0.340%, based on a median home value of $137,100 and median real estate taxes of $466. That is higher than the Prowers County average of 0.327%.
What is the average home price in Lamar?
The median owner-occupied home value in Lamar, Colorado is $137,100, against $150,900 across Prowers County.
Is it cheaper to rent or buy in Lamar?
Median gross rent in Lamar is $844 a month, against $1,123 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 Lamar?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lamar, Colorado at today's rate takes a household income of roughly $48,000 a year. That covers the full $1,123 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lamar, 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.