Español

Este sitio también está en español. Leer en español

City · 8,976 residents · Montezuma County, Colorado

Cortez , Colorado

In Cortez, a typical home is worth $272,900 and typical rent is $984 a month. Compared with all of Montezuma County, the typical home value is 18% lower, typical household income is 17% lower, and the share of households that own their home is 11 points lower.

WhatsApp

  • Typical home value

    $272,900

    18% below the county

    49% below Colorado

    • Cortez
    • Montezuma
    • Colorado

  • Typical rent

    $984a month

    4% above the county

    44% below Colorado

    • Cortez
    • Montezuma
    • Colorado

  • Typical household income

    $54,247a year

    17% below the county

    43% below Colorado

    • Cortez
    • Montezuma
    • Colorado

  • Households that own their home

    66%

    11 points below the county

    1 points below Colorado

    • Cortez
    • Montezuma
    • Colorado

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$338,479
0.9% more than 12 months ago
Typical rent
$1,747 a month
6.2% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Cortez is in Montezuma County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Montezuma County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Cortez apart

What this place has that others do not, from public data, most unusual first.

  1. Cortez has the 6th lowest typical rent of the 109 cities in Colorado with more than 5,000 people ($984).

  2. Cortez has the 8th lowest typical household income of the 113 cities in Colorado with more than 5,000 people ($54,247).

  3. The typical home in Cortez is worth $272,900, 18% less than in Montezuma County as a whole ($331,400).

  4. 66% of households in Cortez own their home, against 76% in Montezuma County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Cortez

What homes there are in Cortez, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Cortez, but it weighs less than in Montezuma County: 65% against 71%.

Year built

Homes in Cortez are older: the typical year built is 1972; in Montezuma County, 1986.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA limit for Montezuma County is high ($541,287): at least 92% of owner-occupied homes in Cortez are worth less than $500,000.

Monthly rent with utilities

With a mortgage

$1,297 a month

Montezuma County: $1,544 a month

Without a mortgage

$421 a month

Montezuma County: $406 a month

Owners with a mortgage

59%

Montezuma County: 54%

Owning costs less in Cortez: with a mortgage, the typical cost is $1,297 a month; in Montezuma County, $1,544. Without one, $421.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Cortez rose 60% since 2015–2019, more than in Montezuma County (49%).

Since 2015–2019, the typical rent in Cortez rose 21%, more than in Montezuma County (16%).

The typical household income in Cortez rose 28% over that time; home values changed +60% and rent +21%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureCortezMontezuma CountyColoradoUnited States
Rental vacancy Unreliable estimateUnreliable estimate5.1%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimate2.1%2.4%3.4%
People per household 2.372.312.422.53
Drive alone 77%75%65%69%
Carpool 11%9%8%9%
Public transit Unreliable estimateUnreliable estimate2%3%
Walk or bike Unreliable estimate4%3%3%
Work from home 7%10%21%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate10 to 19 minutes20 to 29 minutes20 to 29 minutes

By size, households in Cortez look like those in Montezuma County: 2.37 people on average.

In Cortez, 77% of workers drive alone to work; in Montezuma County, 75%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Cortez?

A typical home costs more than the typical income allows

We start with a typical home in Cortez, worth $272,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 47% of the typical household income in Cortez, which is $54,247 a year. For that payment to be 28% of income, a household would need to earn about $90,376 a year.

The calculator's FHA and conventional loan limits are those of all of Montezuma County.

Your numbers

Local data
$

Starts at the typical home value in Cortez. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $9,552 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,109

at 7.18% · 30 years

Loan amount
$267,957
Total interest
$385,527
Paid off in
November 2056

Includes $4,609 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,266 a month

  • Tight

    $1,266 to $1,627 a month

  • Hard

    more than $1,627 a month

    Your payment · 47%

Compared with the typical household income in Cortez ($54,247 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,109
Principal & interest$1,815
Property tax$59
Home insurance$114
FHA mortgage insurance (MIP)$121

You need at least $9,552 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Cortez and Montezuma County

Cortez is in Montezuma County, Colorado. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Cortez's own numbers

Typical home value
$272,900
Typical monthly rent
$984
Typical yearly household income
$54,247
Households that own their home
66%
Effective property tax rate
0.26%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Montezuma County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,280
Price change over 5 years (FHFA)
+54%
Homes in a high flood-risk zone
2.9%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Montezuma County.

Everything about Montezuma County

Buying

Buying a home in Cortez

A typical home in Cortez is worth $272,900: 18% below the county and 49% below Colorado. With the typical household income in Cortez ($54,247 a year), a typical home costs 5.0 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Cortez 5.0 years
  • Montezuma 5.1 years
  • Colorado 5.6 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Montezuma County

According to FHFA’s house price index, home prices in Montezuma County rose 101% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Montezuma County.

Period County Colorado U.S.
Last year (2025) +0.6% +0.1% +2.9%
5 years (2020–2025) +54% +38% +47%
10 years (2015–2025) +101% +93% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Cortez next to Montezuma County, Colorado and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Cortez $272,900
  • Montezuma $331,400
  • Colorado $539,400
  • United States $332,700
Typical monthly rent
  • Cortez $984
  • Montezuma $942
  • Colorado $1,761
  • United States $1,413
Typical yearly household income
  • Cortez $54,247
  • Montezuma $65,244
  • Colorado $95,470
  • United States $80,734
See the full table
Cortez next to Montezuma County and Colorado
Measure Cortez Montezuma County Colorado U.S.
Typical home value $272,900 $331,400 $539,400 $332,700
Typical monthly rent $984 $942 $1,761 $1,413
Typical yearly household income $54,247 $65,244 $95,470 $80,734
Households that own their home 66% 76% 66% 65%
Typical yearly property tax $701 $958 $2,602 $3,119
Effective property tax rate 0.26% 0.29% 0.48% 0.94%
Renters with high rent for their income 56% 57% 53% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Montezuma County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Cortez

For a typical $272,900 home in Cortez, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Cortez's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,109a month

    Least cash to close
    Down payment
    $9,552
    Cash to close
    $17,739
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $121

  • Conventional, 5% down $2,059a month

    Down payment
    $13,645
    Cash to close
    $21,832
    Rate
    7.18%
    Mortgage insurance
    PMI · $130

  • Conventional, 20% down, no PMI $1,652a month

    Down payment
    $54,580
    Cash to close
    $62,767
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,904a month

    Down payment
    $40,935
    Cash to close
    $49,122
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Cortez and for Montezuma County.

Property tax

Effective rate in Cortez

0.26%of the home’s value each year

$701 a year for the typical owner in Cortez.

  • Cortez 0.26%
  • Montezuma 0.29%
  • Colorado 0.48%

What Colorado publishes Senior homestead exemption (owners 65 and older) (Colorado General Assembly (Colorado Revised Statutes 2024, Title 39))

Exemptions and deadlines in Colorado

Flood risk in Montezuma County

FEMA does not publish these numbers by city: they are for all of Montezuma County.

Homes in the high-risk zone
2.9%
425
Of those, with NFIP insurance
11%
County Colorado U.S.
Homes in the high-risk zone 2.9% 1.1% 3.5%
Of those, with NFIP insurance 11% 24% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Cortez

Typical rent in Cortez is $984 a month: 4% above the county. In Cortez, 56% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Montezuma County, by unit size. To pay the 2-bedroom one ($1,280 a month) without spending more than 30% of your income, you would need to earn $24.62 an hour working full time.

HUD fair market rent for all of Montezuma County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $953 $18.33 $38,120
1 bedroom $1,025 $19.71 $41,000
2 bedrooms $1,280 $24.62 $51,200
3 bedrooms $1,772 $34.08 $70,880
4 bedrooms $1,988 $38.23 $79,520

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Cortez

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Cortez is in ZIP code 81321.

For 2 bedrooms it is $1,300: $20 more than the fair market rent for Montezuma County ($1,280).

  • 81321 $1,300$1,800

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Cortez when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Cortez

HUD lists 7 buildings with rents for lower incomes in Cortez. These are the largest.

  • Sleeping Ute Apts 516 S Madison St, Cortez 81321 60 low-income homes · 2 bd: 35 · 3 bd: 20 · 4 bd: 5 · In service since 2006 · For families (970) 565-4729
  • Valley Sun Village 700B E 2nd St, Cortez 81321 50 low-income homes · 1 bd: 50 · In service since 2020 · For older adults
  • Valley Sun Village 700 E 2nd St, Cortez 81321 50 low-income homes · For older adults (303) 442-6380
  • Brubaker Place 2001 E Empire ST, Cortez 81321 48 low-income homes · 1 bd: 8 · 2 bd: 24 · 3 bd: 16 · In service since 2011 · For families
  • Prairie Mesa Estates 650 E 2nd St, Cortez 81321 30 low-income homes · 2 bd: 12 · 3 bd: 18 · In service since 2001

See all 12 buildings in Montezuma County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Cortez

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Montezuma County. The nearest ones are below; many serve by phone or online.

A pregnant woman reads paperwork on the sofa while the grandmother plays with the girl on the floor.

HUD counseling is free or low-cost

Assistance programs in Cortez

No down payment, repair or rent-help program on our list is for Cortez or Montezuma County. The ones below are statewide in Colorado: they work in Cortez the same as in the rest of the state.

Which programs do I qualify for? All programs in Colorado

  • CHFA Down Payment Assistance

    Statewide in Colorado

    Colorado state agency help with the down payment or closing costs: a grant of up to 3% of the mortgage or a deferred second mortgage of up to 4%, both capped at $25,000. Offered by Colorado Housing and Finance Authority (CHFA).

    GrantDeferred

    See the program Official page

  • CHFA FirstGeneration

    Statewide in Colorado

    Open, per the source

    $25,000 from the Colorado state agency for the down payment of first-generation buyers (neither you nor your parents have owned a home); repaid when you sell, refinance or pay off the mortgage. Offered by Colorado Housing and Finance Authority (CHFA).

    Deferred

    See the program Official page

Housing counselors near Cortez

The HUD-approved agencies closest to the center of Cortez, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Homesfund

    150 E 9th St, Durango · 39 miles away

    • Pre-purchase counseling
    • Homebuyer education workshops
    (970) 259-1418

  • Community Economic Defense Project -Cedp-Durango, CO

    1911 Main Ave, Durango · 39 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 6 more
    (303) 276-5705

  • Housing Solutions for the Southwest

    295 Girard St, Durango · 39 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (970) 259-1086

All counseling agencies in Colorado

Help in Spanish near Cortez

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Cortez

HUD’s record names them for Cortez or Montezuma County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the County of Montezuma Public housing and Section 8 vouchers (970) 565-3831

All housing agencies in Colorado Source: HUD

Cities

Nearby cities

The cities closest to Cortez, with the typical home value.

Everything about Montezuma County Housing in Colorado

Neighboring counties

If Montezuma County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Cortez.

All guides
Three women of one family lean in together to stir the pan.

Questions

Housing questions about Cortez

Short answers with the numbers for Cortez and all of Montezuma County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Cortez?

The typical home value in Cortez is $272,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Montezuma County it is $331,400.

How much does it cost to rent in Cortez?

Typical rent in Cortez is $984 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Montezuma County is $1,280.

What is the FHA loan limit in Cortez?

Cortez uses the FHA limit for all of Montezuma County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Cortez?

The typical homeowner in Cortez pays $701 a year, according to the U.S. Census Bureau. That is 0.26% of the home’s value; in Montezuma County, the rate is 0.29%.

Where can I find free help to buy or rent in Cortez?

We found no HUD-approved counseling agencies with an office in Montezuma County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).