Total monthly cost of ownership
Cost to Own a Home in Woodland Park, Colorado
A $489,000 home here costs
$3,587per 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 $153,500 a year.
A standard mortgage calculator would have told you $2,666. The real number is $921 higher every month, 35% more than the payment most buyers budget for.
Compare Teller 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.
Woodland Park against Teller County and Colorado
| Measure | Woodland Park | Teller County |
|---|---|---|
| Median home value | $489,400 | $445,000 |
| Median property tax | $2,261 | $1,583 |
| Effective tax rate | 0.462% | 0.356% |
| Median gross rent | $1,971 | $1,746 |
| Population | 7,909 | 24,774 |
The weather behind that power bill
Woodland Park sits in Teller County, which averages a high of 75.7°F in its hottest month and a low of 14.4°F in its coldest, with 17.98" of precipitation a year and 47% of it in a single three-month stretch. That climate drives 28 cooling and 8,533 heating degree days, which is what sets the $116 electricity line above.
See the full climate breakdown for Teller County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Teller County
No other places of this size are published in Teller County.
Full Teller County cost breakdown · Every county in Colorado
Talk to someone who works this market
These are Woodland Park 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 Woodland Park every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Woodland Park I already own here and may sell
Common questions
How much does it cost to own a home in Woodland Park?
A $489,000 home in Woodland Park, Colorado costs approximately $3,587 per month with 20% down at 7.24%. That is $2,666 principal and interest, $188 property tax, $142 homeowners insurance, $184 utilities and $408 set aside for maintenance.
What is the property tax rate in Woodland Park?
Woodland Park has an effective property tax rate of 0.462%, based on a median home value of $489,400 and median real estate taxes of $2,261. That is higher than the Teller County average of 0.356%.
What is the average home price in Woodland Park?
The median owner-occupied home value in Woodland Park, Colorado is $489,400, against $445,000 across Teller County.
Is it cheaper to rent or buy in Woodland Park?
Median gross rent in Woodland Park is $1,971 a month, against $3,587 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 Woodland Park?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Woodland Park, Colorado at today's rate takes a household income of roughly $153,500 a year. That covers the full $3,587 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Woodland Park, 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.