Total monthly cost of ownership
Cost to Own a Home in Springfield, Colorado
A $123,000 home here costs
$1,026per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $632. The real number is $394 higher every month — 62% 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.
Springfield against Baca County and Colorado
| Measure | Springfield | Baca County |
|---|---|---|
| Median home value | $122,600 | $122,000 |
| Median property tax | $505 | $496 |
| Effective tax rate | 0.412% | 0.407% |
| Median gross rent | $551 | $490 |
| Population | 1,482 | 3,460 |
The weather behind that power bill
Springfield sits in Baca County, which averages a high of 90.5°F in its hottest month and a low of 17.2°F in its coldest, with 15.21" of precipitation a year and 47% of it in a single three-month stretch. That climate drives 979 cooling and 5,415 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Baca County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Baca County
No other places of this size are published in Baca County.
Common questions
How much does it cost to own a home in Springfield?
A $123,000 home in Springfield, Colorado costs approximately $1,026 per month with 20% down at 6.66%. That is $632 principal and interest, $42 property tax, $36 homeowners insurance, $213 utilities and $103 set aside for maintenance.
What is the property tax rate in Springfield?
Springfield has an effective property tax rate of 0.412%, based on a median home value of $122,600 and median real estate taxes of $505. That is in line with the Baca County average of 0.407%.
What is the average home price in Springfield?
The median owner-occupied home value in Springfield, Colorado is $122,600, against $122,000 across Baca County.
Is it cheaper to rent or buy in Springfield?
Median gross rent in Springfield is $551 a month, against $1,026 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 Springfield — 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.