The 80751 zip code in Sterling tops our ranking of the most affordable places to live in Colorado.
We looked at 172 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in Colorado
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Sterling 🥇 | 100.0 | $241,165 | $975 |
| 2 | Trinidad 🥈 | 92.3 | $236,961 | $1,200 |
| 3 | Pueblo 🥉 | 91.4 | $297,290 | $1,344 |
| 4 | Denver | 78.2 | $369,132 | $1,560 |
| 5 | Johnstown | 77.4 | $519,287 | $2,126 |
| 6 | Greeley | 75.1 | $450,804 | $1,658 |
| 7 | Fort Morgan | 75.1 | $329,991 | $2,084 |
| 8 | Colorado Springs | 74.6 | $440,007 | $1,687 |
| 9 | Craig | 73.7 | $288,106 | $2,084 |
| 10 | Aurora | 72.7 | $485,682 | $1,765 |
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1. Sterling
Here's why the 80751 zip code in Sterling is Colorado's most affordable place to live.
🔎 Key data about Sterling
| Data point | Value | Rank (out of 172 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $241,165[1] | No. 5 | -$332,492.56 |
| Home affordability ratio | 4.6 | No. 11 | -1.5 |
| Home value five-year change | 41.4%[2] | No. 140 | 5.2% |
| Home value one-year forecast | 0.7%[3] | No. 154 | 1.3% |
| Rental costs | $975[4] | No. 1 | -$1,109 |
| Rent affordability ratio | 1.85% | No. 33 | -0.4% |
| Median household income | $52,827[5] | No. 161 | -$41,202 |
| Property taxes | $1,115[6] | No. 12 | -$1,544 |
| Energy costs | $0.15 kWh[7] | No. 129 | $0.00 |
Sterling's 80751 zip code is the cheapest place to live in Colorado, leading the 172 markets we evaluated.
The median home value is $241,165, making it the 5th-cheapest housing market in the state. Forecasts project a 0.7% change in home values in the next year. Rent in the zip code averages $975 per month, which is the 33rd cheapest amount in Colorado.
The median property tax for homeowners in Sterling is $1,115 per household, the No. 12 ranked market in Colorado.
Residents pay $0.15 per kWh of electricity, which ranks No. 129 among Colorado markets.
2. Trinidad
The 81082 zip code is the 2nd-cheapest place to live in Colorado.
🔎 Key data about Trinidad
| Data point | Value | Rank (out of 172 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 92.3 | No. 2 | N/A |
| Median home value | $236,961[8] | No. 4 | -$336,696.56 |
| Home affordability ratio | 4.52275147 | No. 9 | -1.6 |
| Home value five-year change | 0.5787050667[9] | No. 166 | 21.7% |
| Home value one-year forecast | -0.5898227576%[10] | No. 129 | 0.0% |
| Rental costs | $1,200[11] | No. 3 | -$884 |
| Rent affordability ratio | 2.29% | No. 107 | 0.1% |
| Median household income | 52393[12] | No. 162 | -$41,636 |
| Property taxes | $534[13] | No. 1 | -$2,125 |
| Energy costs | 0.1469433822 kWh[14] | No. 129 | $0.00 |
Trinidad's 81082 zip code has a median home value of $236,961, which is the 129th-cheapest housing market in Colorado. You can rent for an average of $1,200 per month. That's the 3rd-cheapest price in the state.
The average household income in the zip code is 52393, which ranks 162nd-highest in the state.
Homeowners in Trinidad pay a median property tax of $534 per year, making it the 1st-most affordable market in Colorado.
Trinidad ranks No. 129 among Colorado energy markets. You'll pay 0.1469433822 per kWh of electricity.
3. Pueblo
The 3rd-cheapest place to live in Colorado is Pueblo's 81005 zip code.
🔎 Key data about Pueblo
| Data point | Value | Rank (out of 172 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 91.4 | No. 3 | N/A |
| Median home value | $297,290[15] | No. 9 | -$276,366.73 |
| Home affordability ratio | 4.46335001 | No. 7 | -1.6 |
| Home value five-year change | 0.4288923762[16] | No. 142 | 6.7% |
| Home value one-year forecast | 0.2%[17] | No. 147 | 0.8% |
| Rental costs | $1,344[18] | No. 7 | -$739 |
| Rent affordability ratio | 2.02% | No. 60 | -0.2% |
| Median household income | 66607[19] | No. 140 | -$27,422 |
| Property taxes | $1,393[20] | No. 27 | -$1,266 |
| Energy costs | 0.193896397 kWh[21] | No. 156 | $0.05 |
The No. 9 cheapest housing market in Colorado is Pueblo's 81005 zip code, with a median home value of $297,290. Rents in the market average $1,344 per month, making it the 7th-most affordable rental market in the state.
The median property tax for households in Pueblo is $1,393, which makes it the 27th-cheapest place in Colorado. Pueblo ranks No. 156 among Colorado markets by energy costs. Residents pay 0.193896397 per kWh of electricity.
4. Denver
The 80203 zip code in Denver comes in at No. 4 on our list of the cheapest places to live in Colorado.
🔎 Key data about Denver
| Data point | Value | Rank (out of 172 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 78.2 | No. 4 | N/A |
| Median home value | $369,132[22] | No. 21 | -$204,525.11 |
| Home affordability ratio | 5.156626733 | No. 42 | -0.9 |
| Home value five-year change | 0.08038339585[23] | No. 2 | -28.1% |
| Home value one-year forecast | -0.8%[24] | No. 92 | -0.2% |
| Rental costs | $1,560[25] | No. 16 | -$524 |
| Rent affordability ratio | 2.18% | No. 75 | 0.0% |
| Median household income | 71584[26] | No. 128 | -$22,445 |
| Property taxes | $2,228[27] | No. 68 | -$431 |
| Energy costs | 0.1412761052 kWh[28] | No. 1 | -$0.01 |
The No. 21 cheapest housing market in Colorado is Denver's 80203 zip code, where the median home value is $369,132. Renters here pay an average of $1,560 per month.
When it comes to energy costs, Denver ranks 1st among Colorado markets. Residents pay 0.1412761052 per kWh of electricity.
The median property tax for households in the zip code is $2,228, which makes it the 68th-cheapest market in Colorado.
5. Johnstown
The 80534 zip code in Johnstown ranks No. 5 among Colorado's most affordable places to live.
🔎 Key data about Johnstown
| Data point | Value | Rank (out of 172 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 77.4 | No. 5 | N/A |
| Median home value | $519,287[29] | No. 72 | -$54,370.38 |
| Home affordability ratio | 4.218344961 | No. 1 | -1.9 |
| Home value five-year change | 0.3173397772[30] | No. 43 | -4.4% |
| Home value one-year forecast | -0.8%[31] | No. 92 | -0.2% |
| Rental costs | $2,126[32] | No. 121 | $42 |
| Rent affordability ratio | 1.73% | No. 18 | -0.5% |
| Median household income | 123102[33] | No. 29 | $29,073 |
| Property taxes | $2,938[34] | No. 112 | $279 |
| Energy costs | 0.1412761052 kWh[35] | No. 1 | -$0.01 |
Johnstown's 80534 zip code has a median home value of $519,287, the 72nd-cheapest market in the state. Forecasts project a -0.8% change in home values in the next year.
The median property tax per household in Johnstown is $2,938. It's the 112th-cheapest market by tax rate in Colorado.
6. Greeley
The No. 6 most affordable place to live in Colorado is the 80634 zip code.
🔎 Key data about Greeley
| Data point | Value | Rank (out of 172 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 75.1 | No. 6 | N/A |
| Median home value | $450,804[36] | No. 49 | -$122,853.11 |
| Home affordability ratio | 5.391940482 | No. 60 | -0.7 |
| Home value five-year change | 0.3002529302[37] | No. 32 | -6.1% |
| Home value one-year forecast | -0.8%[38] | No. 92 | -0.2% |
| Rental costs | $1,658[39] | No. 27 | -$425 |
| Rent affordability ratio | 1.98% | No. 53 | -0.2% |
| Median household income | 83607[40] | No. 94 | -$10,422 |
| Property taxes | $1,886[41] | No. 52 | -$773 |
| Energy costs | 0.1412761052 kWh[42] | No. 1 | -$0.01 |
The back half of our top 10 kicks off with Greeley's 80634 zip code, which has the 49th-cheapest home values in Colorado. The median home value is $450,804. Rents average $1,658 per month, making it the 27th-most affordable rental market in the state.
Residents pay 0.1412761052 per kWh of electricity. It's the 1st-cheapest energy market.
7. Fort Morgan
Fort Morgan's 80701 zip code is the 7th-cheapest place to live in Colorado.
🔎 Key data about Fort Morgan
| Data point | Value | Rank (out of 172 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 75.1 | No. 7 | N/A |
| Median home value | $329,991[43] | No. 16 | -$243,665.77 |
| Home affordability ratio | 4.713286222 | No. 16 | -1.4 |
| Home value five-year change | 0.3739005555[44] | No. 110 | 1.2% |
| Home value one-year forecast | -0.4%[45] | No. 146 | 0.2% |
| Rental costs | $2,084[46] | No. 97 | $0 |
| Rent affordability ratio | 2.22% | No. 79 | 0.0% |
| Median household income | 70013[47] | No. 130 | -$24,016 |
| Property taxes | $1,557[48] | No. 37 | -$1,102 |
| Energy costs | 0.1469433822 kWh[49] | No. 129 | $0.00 |
You'll find the 16th-cheapest home values in Colorado in Fort Morgan's 80701 zip code. The median value: $329,991. Renters in Fort Morgan pay an average of $2,084 per month.
Homeowners in Fort Morgan pay a median property tax of $1,557 per year, which is Colorado's 37th-most affordable market.
The average household income is 70013, which ranks 130th-highest in the state.
8. Colorado Springs
The 8th-cheapest place to live in Colorado is Colorado Springs's 80918 zip code.
🔎 Key data about Colorado Springs
| Data point | Value | Rank (out of 172 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 74.6 | No. 8 | N/A |
| Median home value | $440,007[50] | No. 46 | -$133,650.39 |
| Home affordability ratio | 5.329280203 | No. 57 | -0.8 |
| Home value five-year change | 0.3493527485[51] | No. 75 | -1.2% |
| Home value one-year forecast | -0.6%[52] | No. 116 | 0.0% |
| Rental costs | $1,687[53] | No. 29 | -$396 |
| Rent affordability ratio | 2.04% | No. 62 | -0.2% |
| Median household income | 82564[54] | No. 103 | -$11,465 |
| Property taxes | $1,537[55] | No. 36 | -$1,122 |
| Energy costs | 0.1469433822 kWh[56] | No. 129 | $0.00 |
The 46th-cheapest housing market in Colorado is Colorado Springs's 80918 zip code, with a median home value of $440,007. Renters pay an average of $1,687 per month, the No. 29 rental market in the state.
The median property tax for households in Colorado Springs is $1,537, which makes it the 36th-cheapest place in Colorado. The average household income of 82564 ranks 103rd.
9. Craig
Craig's 81625 zip code sneaks into the top ten of Colorado's most affordable places to live.
🔎 Key data about Craig
| Data point | Value | Rank (out of 172 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 73.7 | No. 9 | N/A |
| Median home value | $288,106[57] | No. 6 | -$285,551.00 |
| Home affordability ratio | 4.439230902 | No. 6 | -1.7 |
| Home value five-year change | 0.5618833682[58] | No. 162 | 20.0% |
| Home value one-year forecast | 1.5%[59] | No. 156 | 2.1% |
| Rental costs | $2,084[60] | No. 97 | $0 |
| Rent affordability ratio | 2.22% | No. 79 | 0.0% |
| Median household income | 64900[61] | No. 143 | -$29,129 |
| Property taxes | $1,166[62] | No. 15 | -$1,493 |
| Energy costs | 0.1469433822 kWh[63] | No. 129 | $0.00 |
The 6th-cheapest housing market in Colorado is Craig's 81625 zip code, where the median home value is $288,106. Renters pay an average of $2,084 per month. It's the state's 97th-cheapest rental market.
The median property tax for households within the zip code is $1,166, which makes it the 15th-cheapest property tax rate in Colorado.
10. Aurora
The final spot on our list of the most affordable places to live in Colorado goes to the 80013 zip code in Aurora.
🔎 Key data about Aurora
| Data point | Value | Rank (out of 172 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 72.7 | No. 10 | N/A |
| Median home value | $485,682[64] | No. 61 | -$87,974.97 |
| Home affordability ratio | 5.274795991 | No. 51 | -0.8 |
| Home value five-year change | 0.3353116818[65] | No. 56 | -2.6% |
| Home value one-year forecast | -0.9%[66] | No. 52 | -0.3% |
| Rental costs | $1,765[67] | No. 42 | -$318 |
| Rent affordability ratio | 1.92% | No. 42 | -0.3% |
| Median household income | 92076[68] | No. 77 | -$1,953 |
| Property taxes | $2,272[69] | No. 69 | -$387 |
| Energy costs | 0.1412761052 kWh[70] | No. 1 | -$0.01 |
The 61st-most affordable market in Colorado is Aurora's 80013 zip code. The median home value is $485,682. Rent in the market costs $1,765 per month on average, making it the 42nd-most affordable rental market in Colorado.
The median property tax for households in Aurora is $2,272, which is the 69th-cheapest property tax rate in the state.
Aurora ranks No. 1 among Colorado markets by energy costs, with households paying 0.1412761052 per kWh of electricity.
How we ranked the most affordable places in Colorado
We evaluated 172 zip codes in Colorado with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Colorado, the higher our score on this component. We assign a weight of 23.8% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Colorado average, the higher our score on this component. We assign a weight of 7.1% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Colorado average, the higher our score on this component. We assign a weight of 7.1% to energy costs.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code. Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
