Español

Este sitio también está en español. Leer en español

County in Colorado

San Miguel County, Colorado

San Miguel County is a county in Colorado with 7,968 residents, No. 40 of 64 by population. In San Miguel County, the FHA loan limit for a one-unit home is $1,045,350, and a typical home is worth $720,700. To rent a 2-bedroom apartment at Fair Market Rent ($1,631 a month) without going over 30% of your income, you need to earn about $31.37 an hour.

WhatsApp

  • Typical home price

    $720,700

    +34% vs. Colorado +117% vs. U.S.

    Half of owner-occupied homes are worth more and half are worth less.

    • San Miguel
    • Colorado
    • United States

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

  • Fair market rent, 2 bedrooms

    $1,631 a month

    −15% vs. Colorado −7% vs. U.S.

    HUD's reference rent for a two-bedroom apartment, with basic utilities.

    • San Miguel
    • Colorado
    • United States

    Source: HUD, Fiscal year 2027

  • FHA limit 2026, 1 unit

    $1,045,350

    FHA high-cost area

    The most you can borrow with an FHA loan for a one-unit home here.

    • San Miguel
    • Floor
    • Ceiling

    Source: HUD, 2026 data

  • Property tax

    0.26% of value per year

    −46% vs. Colorado −72% vs. U.S.

    $1,900 a year for the typical owner

    • San Miguel
    • Colorado
    • United States

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

Market now, with Zillow data

Zillow data
Typical home value
$1,644,020
9% more than 12 months ago

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

Data from October 2026

In short

What is housing like in San Miguel County today?

With an FHA loan and the minimum down payment, a typical home would cost about $5,569 a month: 85% of the typical household income here. For that payment to be 28% of income, a household would need to earn about $238,673 a year; the typical income here is $79,024. The typical home value is 34% more than in Colorado overall. The typical property tax is $1,900 a year (about 0.26% of home value), lower than in Colorado. This is a high-cost area for FHA: the limit is above the national floor.

54% of renter households spend 30% or more of their income on housing.

Sources: U.S. Census Bureau (Average 2020–2024); HUD (2026 data).

Only here

What sets San Miguel County apart

  1. Nearby, in Montezuma County, the typical home value is $331,400: 54% less than in San Miguel County ($720,700).

  2. According to Zillow, in the 12 months to September 2026 the typical home value in San Miguel County rose 9%; in Colorado, it fell 1.3%.

  3. Among the neighboring counties, Montezuma County has the lowest typical rent ($942), 18% below the $1,149 in San Miguel County.

  4. At 0.26%, San Miguel County ranks 5th among the 63 counties in Colorado with this figure for the lowest effective property tax rate.

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in San Miguel County

What homes there are in San Miguel County, 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

In San Miguel County there is a bit of everything: no kind of home reaches half. The most common are detached houses (49%); in Colorado, 61%.

Year built

Here half of the homes date from 1995 or later; in Colorado, from 1988 or later.

There are fewer big homes in San Miguel County than in Colorado: 50% have 3 bedrooms or more, against 62%.

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
Monthly rent with utilities

With a mortgage

$2,443 a month

Colorado: $2,326 a month

Without a mortgage

$679 a month

Colorado: $663 a month

Owners with a mortgage

57%

Colorado: 69%

Owning costs more in San Miguel County: with a mortgage, the typical cost is $2,443 a month; in Colorado, $2,326. Without one, $679.

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 San Miguel County rose 50% since 2015–2019, less than in Colorado (57%).

Since 2015–2019, the typical rent in San Miguel County did not change clearly, according to the Census.

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

MeasureSan Miguel CountyColoradoUnited States
Rental vacancy 8.3%5.1%5.5%
Homeowner vacancy Unreliable estimate0.8%0.9%
More than one person per room Unreliable estimate2.4%3.4%
People per household 1.732.422.53
Drive alone 38%65%69%
Carpool 9%8%9%
Public transit Unreliable estimate2%3%
Walk or bike 31%3%3%
Work from home 16%21%15%
Other means 5%1%2%
Typical commute 10 to 19 minutes20 to 29 minutes20 to 29 minutes

There is more rental housing open in San Miguel County: 8.3% is empty and offered for rent, against 5.1% in Colorado.

On average, a household in San Miguel County has 1.73 people, fewer than in Colorado (2.42).

Many here get to work on foot or by bike: 31%, more than in Colorado (3%).

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 in San Miguel County?

A typical home costs more than the typical income allows

We start with a typical home of $720,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 85% of the typical household income here, which is $79,024 a year. For that payment to be 28% of income, a household would need to earn about $238,673 a year.

Your numbers

Local data
$

Starts at the typical home value in San Miguel County. 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 $25,225 (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

$5,569

at 7.18% · 30 years

Loan amount
$707,646
Total interest
$1,018,136
Paid off in
November 2056

Includes $12,171 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,844 a month

  • Tight

    $1,844 to $2,371 a month

  • Hard

    more than $2,371 a month

    Your payment · 85%

Compared with the typical household income in San Miguel County ($79,024 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$5,569
Principal & interest$4,794
Property tax$156
Home insurance$300
FHA mortgage insurance (MIP)$319

You need at least $25,225 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.

Buying a home

Buying a home in San Miguel County

Here you'll see how prices have changed, how San Miguel County compares with Colorado and the country, and what you'd pay each month with four kinds of loans.

How have home prices changed?

FHFA does not publish an annual price index in San Miguel County. This usually happens when there are too few sales to measure.

Period Here Colorado United States
In 2025 — +0.1% +2.9%
5 years (2020–2025) — +38% +47%
10 years (2015–2025) — +93% +85%

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

San Miguel County compared with Colorado and the United States

Home value, rent and household income, side by side. "Typical" is the median: half are above it and half below.

Typical home value
  • San Miguel $720,700
  • Colorado $539,400
  • United States $332,700
Typical rent a month
  • San Miguel $1,149
  • Colorado $1,761
  • United States $1,413
Typical household income a year
  • San Miguel $79,024
  • Colorado $95,470
  • United States $80,734
See the full table
San Miguel compared with Colorado and the United States
MeasureHereColoradoU.S.
Residents7,9685,862,189334,922,499
Typical home value$720,700$539,400$332,700
Typical household income$79,024$95,470$80,734
Typical rent$1,149$1,761$1,413
Fair Market Rent (2 bedrooms)$1,631$1,916$1,750
Hourly wage to rent a 2-bedroom$31.37$36.85$33.65
Typical property tax$1,900$2,602$3,119
Effective tax rate0.26%0.48%0.94%
Households that own their home63%66%65%
Renters spending 30% or more on rent54%53%51%
FHA limit (1 unit)*$1,045,350$541,287$541,287

FHA limit: Colorado shows the median of its counties; the United States, the national floor. Download CSV

Four ways to pay for a typical home in San Miguel County

For a typical $720,700 home at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, the county's property tax, an example homeowners insurance and mortgage insurance when it applies.

Loan Monthly payment Down payment Loan amount Rate Mortgage insurance Cash to close Minimum score
FHA, 3.5% down $5,569 $25,225 $707,646 7.18% FHA MIP · $319 $46,846 580
Conventional, 5% down $5,437 $36,035 $684,665 7.18% PMI · $342 $57,656 620*
Conventional, 20% down, no PMI $4,362 $144,140 $576,560 7.18% None $165,761 620*
ITIN, 15% down (example) $5,029 $108,105 $612,595 8.18% None $129,726 Set by the lender
  • 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? Closing costs

Loan limits

This is a high-cost area, so FHA limits in San Miguel County are above the national floor. The limit is set for the whole metro area (Non-Metro). If the loan you need is above these amounts, it doesn't fit FHA or it becomes a "jumbo" loan.

VA loans. If you have full VA entitlement, VA doesn't cap the loan amount. If you've used part of your entitlement, the calculation uses the county limit ($994,750 for one unit). VA loan limits (va.gov)

USDA loans. They're for homes in eligible rural areas and households with incomes within USDA's limit. Check whether the address and your income qualify on the official site. USDA eligibility (usda.gov)

Home type FHA limit Conforming limit
1 unit $1,045,350 $994,750
2 units $1,338,250 $1,273,450
3 units $1,617,650 $1,539,350
4 units $2,010,350 $1,913,000

Source: HUD, 2026 data · Source: FHFA, 2026 data

Taxes and risks

Property tax and flooding in San Miguel County

Two costs that change a lot from place to place and that a house payment does include: property tax and, in risk zones, flood insurance.

Property tax

In San Miguel County, the typical owner pays $1,900 a year: about 0.26% of the home's value. That is less than the rest of Colorado and less than the national average.

  • San Miguel 0.26%
  • Colorado 0.48%
  • United States 0.94%

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

Exemptions and deadlines in Colorado

Is there a flood risk?

FEMA’s maps count no homes in high-risk flood zones in San Miguel County. That does not mean there is no risk: some areas have no map. Check your address.

  • A high-risk zone (Special Flood Hazard Area) has a 1% or greater chance of flooding each year. (44 CFR 59.1)
  • If the home is in that zone and the loan comes from a regulated lender, federal law requires flood insurance for the life of the loan, in communities that take part in the NFIP. (42 U.S.C. 4012a)
  • Most homeowners insurance does not cover flood damage. (FEMA, FloodSmart)

Source: FEMA, As of August 3, 2026

Look up your address on FEMA’s map

Owning a home here

Owning a home in San Miguel County

The natural hazards FEMA measures in San Miguel County, a maintenance plan for your climate and what the trades earn in your area.

Risks to your home

FEMA, National Risk Index 1.20.0 (December 2025)

FEMA rates the natural hazard risk in San Miguel County as very low.

FEMA builds that rating from three parts: expected loss, social vulnerability and community resilience.

In all, FEMA estimates natural hazards cause about $10 million in losses a year in San Miguel County, across buildings, people and crops.

For homes and buildings, the costliest hazard here is inland flooding, at about $5.1 million in losses a year.

Loss FEMA expects each year to homes and buildings, by hazard
  1. Inland floodingVery low $5.1 million a year
  2. WildfireRelatively low $565,840 a year
  3. EarthquakeVery low $110,792 a year
  4. Winter weatherRelatively low $16,547 a year
  5. TornadoVery low $6,810 a year

What it means for your home

The ratings are FEMA's own. FEMA says its data is meant for planning and does not replace a local study. Drought is not shown: FEMA counts its loss in crops only.

National Risk Index, version 1.20.0 (December 2025), retrieved November 6, 2026

FEMA notice: This product uses the Federal Emergency Management Agency's National Risk Index dataset API or downloadable datasets but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s).

Climate and upkeep

Department of Energy (PNNL), 2021 IECC zones

San Miguel County is climate zone 6B in the home energy code (IECC): cold.

The zone's number says how hot or cold it gets; the letter says how humid: A is moist, B is dry and C is marine.

  • Spring

    • Book the air conditioner's check-up before the heat: ENERGY STAR advises checking the cooling system in the spring, because contractors get busy once summer comes. ENERGY STAR (EPA)
    • Clean and repair the roof gutters. EPA

  • Summer

    • Seal the air ducts that run through the attic, crawlspace, basement or garage with duct mastic or foil tape, then wrap them in insulation. ENERGY STAR (EPA)
    • Check that the ground slopes away from the house, so water does not collect around the foundation. EPA

  • Fall

    • Book the heating check-up in the fall. If it runs on gas or oil, the technician should check the connections: faulty ones are a fire hazard. ENERGY STAR (EPA)
    • Seal air leaks and add insulation in the attic: ENERGY STAR says it lowers the chance of ice dams on the roof in snowy climates. ENERGY STAR (EPA)

  • Winter

    • Get the house ready for the cold with insulation, caulking and weather stripping, and learn how to keep pipes from freezing. Ready.gov (FEMA)
    • Put clear plastic film over the windows: it is inexpensive, cuts drafts, helps the house feel warmer in winter and reduces moisture on the glass. ENERGY STAR (EPA)

All year

  • Check the air filter every month, especially in heavy-use months. If it looks dirty, change it; change it at least every 3 months. ENERGY STAR (EPA)
  • Test the smoke alarms every month and replace their batteries at least once a year. USFA (FEMA)

Each task comes from the official page beside it. The spring air-conditioning and fall heating check-ups are the timing ENERGY STAR advises; the rest is a suggested order.

Climate zones by county, 2021 IECC

What the trades charge here

BLS, wages for May 2025

TradeTypical hourly wage8 in 10 earn between
Electricians$29.36$20.66 and $40.78
Plumbers, pipefitters and steamfitters$28.94$21.70 and $44.58
Heating, air conditioning and refrigeration mechanics$29.30$20.62 and $46.25
Roofers$22.67$21.26 and $32.13
Carpenters$30.77$18.36 and $46.62
Painters, construction and maintenance$25.35$17.62 and $35.34
Maintenance and repair workers, general$22.98$17.10 and $30.80

According to BLS, an electrician earns about $29.36 an hour in the Southwest Colorado nonmetropolitan area; a plumber, about $28.94.

These are workers' hourly wages, not the price of a job.

Need help paying for a repair?

Renting

Renting in San Miguel County

The typical rent in San Miguel County is $1,149 a month. HUD also publishes a “fair market rent” by unit size: it's the one programs like Section 8 use.

54% of renter households in San Miguel County spend 30% or more of their income on housing.

Fair market rent by size

To pay the fair market rent without spending more than 30% of income, working full time (40 hours a week).

Size Fair rent a month Hourly wage Income needed per year
Studio $1,136 $21.85 $45,440
1 bedroom $1,377 $26.48 $55,080
2 bedrooms $1,631 $31.37 $65,240
3 bedrooms $2,258 $43.42 $90,320
4 bedrooms $2,533 $48.71 $101,320

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

Free help in San Miguel County

Programs and counseling in San Miguel County

We didn't find HUD-approved agencies with an office in this county. These are the 2 nearest; many serve by phone or online.

Official programs for the down payment and loans for buyers. Check which ones you might qualify for with your income and your county.

A family roasts marshmallows over a campfire at a forest campsite.

HUD counseling is free or low-cost

Colorado down payment programs

  1. CHFA Down Payment Assistance

    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

    The source does not say whether you must be a first-time buyer. Run by Colorado Housing and Finance Authority (CHFA).

    GrantDeferred Verified November 5, 2026

  2. CHFA FirstGeneration

    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

    First-time buyers only. Run by Colorado Housing and Finance Authority (CHFA).

    Deferred Verified November 5, 2026

Which programs do I qualify for? See all Colorado programs

Help in Spanish in San Miguel County

1 of the 2 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.

Public housing agencies

HUD lists no public housing authority based in San Miguel County. The authority of a nearby county or the state may serve this area.

Free legal help

If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.

Find legal aid (lsc.gov)

Housing counseling nearby

These are the nearest agencies, with the distance in miles. Many help by phone or online. Official HUD list. Confirm hours and fees with the agency before you go.

  • Community Economic Defense Project -Cedp-Durango, CO

    1911 Main Ave, Durango · 58 miles away · Spanish

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

  • Homesfund

    150 E 9th St, Durango · 59 miles away

    • Pre-purchase counseling
    • Homebuyer education workshops
    (970) 259-1418
See every agency in Colorado

Places

Cities in San Miguel County

This site has no city pages of San Miguel County. The neighboring counties are below.

Nearby counties

Each row compares its typical value, typical rent and FHA limit with San Miguel County.

Read next

Guides that help here

We picked them by this county's numbers: what weighs most here is what's worth understanding first.

Frequently asked questions

What is the FHA loan limit in San Miguel County in 2026?

San Miguel County has an FHA limit of $1,045,350 for a one-unit home. For 2 units it's $1,338,250, for 3 it's $1,617,650 and for 4 it's $2,010,350. It's a high-cost area, so the limit is above the national floor.

What is the conforming loan limit in San Miguel County?

San Miguel County has a conforming limit of $994,750 for one-unit conventional loans in 2026. A bigger loan is a “jumbo” loan.

How much does a typical home cost in San Miguel County?

The typical home value in San Miguel County is $720,700 (Average 2020–2024, U.S. Census). Across Colorado it's $539,400.

How much does it cost to rent in San Miguel County?

San Miguel County has a typical rent of $1,149 a month (Average 2020–2024, U.S. Census). HUD's fair market rent for a 2-bedroom apartment is $1,631 (Fiscal year 2027).

How much do you need to earn to rent a 2-bedroom apartment in San Miguel County?

About $31.37 an hour working full time (2,080 hours a year), or $65,240 a year, so the fair market rent of $1,631 stays under 30% of income.

Sources: American Community Survey (Average 2020–2024); FHA mortgage limits (2026 data); Conforming loan limits (2026 data); Fair Market Rents (Fiscal year 2027); Income Limits (Fiscal year 2026); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (As of November 5, 2026); FHFA House Price Index (2025 data); Homes with flood insurance (As of August 3, 2026); National Risk Index (2025 data); IECC climate zones by county (2021 data); Occupational Employment and Wage Statistics (2025 data); Census Bureau cartographic boundary files (2024 data).