Total monthly cost of ownership
Cost to Own a Home in Wheat Ridge, Colorado
A $585,000 home here costs
$4,095per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $3,007. The real number is $1,088 higher every month — 36% 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.
Wheat Ridge against Jefferson County and Colorado
| Measure | Wheat Ridge | Jefferson County |
|---|---|---|
| Median home value | $584,700 | $604,400 |
| Median property tax | $2,607 | $2,867 |
| Effective tax rate | 0.446% | 0.474% |
| Median gross rent | $1,493 | $1,792 |
| Population | 32,158 | 579,715 |
The weather behind that power bill
Wheat Ridge sits in Jefferson County, which averages a high of 81.2°F in its hottest month and a low of 12.5°F in its coldest, with 18.62" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 99 cooling and 7,467 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Jefferson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Jefferson County
Full Jefferson County cost breakdown · Every county in Colorado
Common questions
How much does it cost to own a home in Wheat Ridge?
A $585,000 home in Wheat Ridge, Colorado costs approximately $4,095 per month with 20% down at 6.66%. That is $3,007 principal and interest, $217 property tax, $170 homeowners insurance, $213 utilities and $488 set aside for maintenance.
What is the property tax rate in Wheat Ridge?
Wheat Ridge has an effective property tax rate of 0.446%, based on a median home value of $584,700 and median real estate taxes of $2,607. That is lower than the Jefferson County average of 0.474%.
What is the average home price in Wheat Ridge?
The median owner-occupied home value in Wheat Ridge, Colorado is $584,700, against $604,400 across Jefferson County.
Is it cheaper to rent or buy in Wheat Ridge?
Median gross rent in Wheat Ridge is $1,493 a month, against $4,095 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 Wheat Ridge — 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.