Total monthly cost of ownership
Cost to Own a Home in Severance, Colorado
A $494,000 home here costs
$3,766per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $161,500 a year.
A standard mortgage calculator would have told you $2,736. The real number is $1,030 higher every month, 38% more than the payment most buyers budget for.
Compare Weld 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.
Severance against Weld County and Colorado
| Measure | Severance | Weld County |
|---|---|---|
| Median home value | $493,800 | $444,500 |
| Median property tax | $3,512 | $2,242 |
| Effective tax rate | 0.711% | 0.504% |
| Median gross rent | $2,108 | $1,469 |
| Population | 9,302 | 340,711 |
The weather behind that power bill
Severance sits in Weld County, which averages a high of 90.0°F in its hottest month and a low of 9.4°F in its coldest, with 13.43" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 600 cooling and 6,855 heating degree days, which is what sets the $115 electricity line above.
See the full climate breakdown for Weld County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Weld County
Talk to someone who works this market
These are Severance 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 Severance every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Severance I already own here and may sell
Common questions
How much does it cost to own a home in Severance?
A $494,000 home in Severance, Colorado costs approximately $3,766 per month with 20% down at 7.4%. That is $2,736 principal and interest, $293 property tax, $143 homeowners insurance, $183 utilities and $412 set aside for maintenance.
What is the property tax rate in Severance?
Severance has an effective property tax rate of 0.711%, based on a median home value of $493,800 and median real estate taxes of $3,512. That is higher than the Weld County average of 0.504%.
What is the average home price in Severance?
The median owner-occupied home value in Severance, Colorado is $493,800, against $444,500 across Weld County.
Is it cheaper to rent or buy in Severance?
Median gross rent in Severance is $2,108 a month, against $3,766 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 Severance?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Severance, Colorado at today's rate takes a household income of roughly $161,500 a year. That covers the full $3,766 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Severance, 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.