Total monthly cost of ownership
Cost to Own a Home in Steamboat Springs, Colorado
A $874,000 home here costs
$6,165per 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 $264,000 a year.
A standard mortgage calculator would have told you $4,765. The real number is $1,400 higher every month, 29% more than the payment most buyers budget for.
Compare Routt 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.
Steamboat Springs against Routt County and Colorado
| Measure | Steamboat Springs | Routt County |
|---|---|---|
| Median home value | $874,400 | $756,200 |
| Median property tax | $2,815 | $2,490 |
| Effective tax rate | 0.322% | 0.329% |
| Median gross rent | $1,909 | $1,845 |
| Population | 13,341 | 24,990 |
The weather behind that power bill
Steamboat Springs sits in Routt County, which averages a high of 83.1°F in its hottest month and a low of 4.6°F in its coldest, with 24.68" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 75 cooling and 8,872 heating degree days, which is what sets the $116 electricity line above.
See the full climate breakdown for Routt County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Routt County
Talk to someone who works this market
These are Steamboat Springs 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 Steamboat Springs every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Steamboat Springs I already own here and may sell
Common questions
How much does it cost to own a home in Steamboat Springs?
A $874,000 home in Steamboat Springs, Colorado costs approximately $6,165 per month with 20% down at 7.24%. That is $4,765 principal and interest, $235 property tax, $253 homeowners insurance, $184 utilities and $728 set aside for maintenance.
What is the property tax rate in Steamboat Springs?
Steamboat Springs has an effective property tax rate of 0.322%, based on a median home value of $874,400 and median real estate taxes of $2,815. That is in line with the Routt County average of 0.329%.
What is the average home price in Steamboat Springs?
The median owner-occupied home value in Steamboat Springs, Colorado is $874,400, against $756,200 across Routt County.
Is it cheaper to rent or buy in Steamboat Springs?
Median gross rent in Steamboat Springs is $1,909 a month, against $6,165 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 Steamboat Springs?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Steamboat Springs, Colorado at today's rate takes a household income of roughly $264,000 a year. That covers the full $6,165 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Steamboat Springs, 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.