Montrose, CO

Average · 90

Colorado · Population 20,703 · Updated March 2026

$1,117
Median Rent / Month
$63,177
Median Income
$359,000
Median Home Value
$1,049
Owner Costs / Month

Affordability

How far your income goes in Montrose

21.2%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Colorado

State-level tax rates that affect your costs

4.4%
Income Tax (Top Rate)
2.9%
Sales Tax
0.51%
Property Tax Rate

Estimated Annual Costs

$13,404
Annual Rent
$2,780
State Income Tax
$1,831
Property Tax (est.)

Cost of Living Overview

Montrose offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 90 (where 100 equals the national median), Montrose residents can expect to pay median rent of $1,117/month while earning a median household income of $63,177/year.

The median home value in Montrose, CO is $359,000, with typical monthly owner costs around $1,049 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.2% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Colorado has a moderate income tax rate of 4.4%. Combined with a 2.9% sales tax rate and 0.51% effective property tax rate, the overall tax environment is a factor in the total cost of living in Montrose.

Frequently Asked Questions

Common questions about living costs in Montrose

What is the cost of living in Montrose, CO?
The cost of living index in Montrose, CO is 90 (US average = 100). Median monthly rent is $1,117, median household income is $63,177/year, and the median home value is $359,000.
Is Montrose, CO affordable?
Yes, Montrose is more affordable than the national average with a cost index of 90. The rent-to-income ratio is 21.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Montrose, CO?
The median gross rent in Montrose, CO is $1,117 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,404.
What is the median household income in Montrose?
The median household income in Montrose, CO is $63,177 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Colorado?
Colorado has a top income tax rate of 4.4%, a sales tax of 2.9%, and an effective property tax rate of 0.51%.