Total monthly cost of ownership
Cost to Own a Home in Ridgway, Colorado
A $678,000 home here costs
$4,618per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $3,486. The real number is $1,133 higher every month — 32% 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.
Ridgway against Ouray County and Colorado
| Measure | Ridgway | Ouray County |
|---|---|---|
| Median home value | $677,700 | $670,100 |
| Median property tax | $1,894 | $1,854 |
| Effective tax rate | 0.279% | 0.277% |
| Median gross rent | $1,336 | $1,398 |
| Population | 1,247 | 5,024 |
The weather behind that power bill
Ridgway sits in Ouray County, which averages a high of 85.4°F in its hottest month and a low of 6.5°F in its coldest, with 16.12" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 110 cooling and 7,694 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Ouray County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ouray County
Common questions
How much does it cost to own a home in Ridgway?
A $678,000 home in Ridgway, Colorado costs approximately $4,618 per month with 20% down at 6.66%. That is $3,486 principal and interest, $158 property tax, $197 homeowners insurance, $213 utilities and $565 set aside for maintenance.
What is the property tax rate in Ridgway?
Ridgway has an effective property tax rate of 0.279%, based on a median home value of $677,700 and median real estate taxes of $1,894. That is in line with the Ouray County average of 0.277%.
What is the average home price in Ridgway?
The median owner-occupied home value in Ridgway, Colorado is $677,700, against $670,100 across Ouray County.
Is it cheaper to rent or buy in Ridgway?
Median gross rent in Ridgway is $1,336 a month, against $4,618 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 Ridgway — 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.