NAR Denver research
How Much Does Location Change a Denver-Area Mortgage Payment?
What does this mean for my decision?
Location can change the borrowing cost substantially. At September 2026 county median single-family prices, a hypothetical 20%-down, 6.5%, 30-year mortgage costs about $1,713 more per month in principal and interest in Boulder than Adams. That difference can reshape where a buyer looks.
By Rick Janson, JD/MBA Realtor®
Published
How can I use these findings?
Use the county comparison to decide which locations deserve a closer look within your recurring budget. Then compare actual homes, including taxes, insurance, association dues, upkeep and transportation costs. A lower county median can reduce the illustrative loan payment, but the homes available in two counties may differ in space, condition and access to the places you use. Ask for a property-specific full payment before treating an asking price as affordable.
How much does geography change the same loan scenario?
Holding the financing assumptions constant isolates the effect of the observed county price. This is a comparison of county medians, not a comparison of otherwise identical homes. Boulder’s median was $838,864 and Adams’ was $500,000, a $338,864 difference across their September closed-sale samples.
An 80% loan turns that price difference into approximately $271,091 more initial borrowing. Our payment calculation translates the difference into a monthly amount a buyer can compare with other priorities.
Scroll horizontally to see all columns.
| County | Median closed price ($) | Closed listings | 20% down payment ($) | Monthly P&I ($) |
|---|---|---|---|---|
| Adams | 500000 | 435 | 100000 | 2528 |
| Arapahoe | 555000 | 436 | 111000 | 2806 |
| Boulder | 838864 | 249 | 167773 | 4242 |
| Broomfield | 760000 | 72 | 152000 | 3843 |
| Denver | 700000 | 402 | 140000 | 3540 |
| Douglas | 735000 | 389 | 147000 | 3717 |
| Jefferson | 700000 | 477 | 140000 | 3540 |
Sources: REcolorado / InfoSparks: September 2026 monthly county single-family-residence snapshot; extracted October 12, 2026; Consumer Financial Protection Bureau: understanding a Loan Estimate and full payment components
Why can a historical rate average miss the affordability question?
Dr. Lautz’s presentation emphasizes the combined burden of price and borrowing cost. A historical interest-rate comparison cannot tell a buyer whether a particular payment fits their finances. The same rate applied to different purchase prices creates materially different payments.
This study therefore models dollars per month. It adds neither a rate forecast nor an assumption that a household should buy the lowest-price county. Commute, home type, condition and ongoing costs remain part of the decision.
How should buyers interpret the range?
The model is a starting point for a full budget. The payment shown excludes several ownership expenses and assumes a down payment that a first-time buyer may not have. A lender’s estimate for the actual property, borrower and loan is the relevant next comparison.
Unit: $/month. Values are shown above each bar.
Scroll horizontally to read the chart labels and values.
- 20% down, 6.5%, 30 years
Companion guide: How Can I Set a Realistic Denver-Area Homebuying Budget?
Related research