Quick facts: Montrose, CO

Quick Facts

114.3
Cost of Living
above US average
21,003
Population
34.95
Crime Rate per 1000
above US average
$60,132
Median Income
below US average
$387,000
Median House Price
above US average
$1498.4
Average Rent
above US average
9%
Poverty Rate
below US average
3.2%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $60,132.

🏠

Income Needed to Buy

βœ— Stretch
$121k/year
Based on $387,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $121k vs median $60,132
🏒

Income Needed to Rent

⚠ Stretch
$64k/year
Based on $1498.4/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $64k vs median $60,132
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Montrose, CO

Montrose, located in western Colorado, serves as a gateway to the stunning landscapes of the San Juan Mountains and the Black Canyon of the Gunnison National Park. This charming town boasts a rich history rooted in agriculture and mining, which is reflected in its well-preserved downtown area featuring local shops, restaurants, and art galleries. The Montrose area is known for its outdoor recreational opportunities, offering activities like hiking, fishing, and skiing in the nearby mountain ranges. The Uncompahgre River runs through the town, providing picturesque views and opportunities for water activities. Montrose is also home to the Montrose Regional Airport, making it accessible for visitors looking to explore the natural beauty of Colorado. With its friendly community atmosphere and a variety of cultural events, including art fairs and farmers' markets, Montrose captures the spirit of small-town living while being a gateway to outdoor adventures, making it an attractive destination for both residents and tourists.

πŸ” Search & Compare Places

First Location πŸ“