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City · 5,387 residents · Thomas County, Kansas

Colby , Kansas

In Colby, a typical home is worth $163,000 and typical rent is $750 a month. Compared with all of Thomas County, typical household income is 11% lower, the typical home value is 6% lower, and the share of households that own their home is 8 points lower.

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  • Typical home value

    $163,000

    6% below the county

    25% below Kansas

    • Colby
    • Thomas
    • Kansas

  • Typical rent

    $750a month

    About the same as the county

    29% below Kansas

    • Colby
    • Thomas
    • Kansas

  • Typical household income

    $63,494a year

    11% below the county

    15% below Kansas

    • Colby
    • Thomas
    • Kansas

  • Households that own their home

    67%

    8 points below the county

    About the same as Kansas

    • Colby
    • Thomas
    • Kansas

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

Market now, with Zillow data

Zillow data
Typical home value
$182,461
1.2% more than 12 months ago

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

Colby is in Thomas 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 Thomas County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Colby apart

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

  1. Colby has the 2nd largest share of rent-burdened renters of the 62 cities in Kansas with more than 5,000 people (62%).

  2. Nearby, in Ulysses, the typical home value is $97,400: 40% less than in Colby ($163,000).

  3. 67% of households in Colby own their home, against 75% in Thomas County.

  4. Colby has the 6th lowest typical rent of the 65 cities in Kansas with more than 5,000 people ($750).

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

The homes here

Housing in Colby

What homes there are in Colby, 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 Colby, but it weighs less than in Thomas County: 74% against 80%.

Year built

The typical year built in Colby is 1969, about the same as in Thomas County (1967).

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

$1,192 a month

Thomas County: $1,274 a month

Without a mortgage

$654 a month

Thomas County: $615 a month

Owners with a mortgage

60%

Thomas County: 51%

Owning costs less in Colby: with a mortgage, the typical cost is $1,192 a month; in Thomas County, $1,274. Without one, $654.

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 Colby rose 30% since 2015–2019, less than in Thomas County (33%).

The typical rent in Colby stayed about the same over that time: the difference is within the Census margin of error.

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

MeasureColbyThomas CountyKansasUnited States
Rental vacancy Unreliable estimateUnreliable estimate6.2%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.9%0.9%
More than one person per room Unreliable estimateUnreliable estimate2.1%3.4%
People per household 2.332.382.442.53
Drive alone 83%82%75%69%
Carpool Unreliable estimate4%9%9%
Public transit Unreliable estimateUnreliable estimate0%3%
Walk or bike Unreliable estimateUnreliable estimate3%3%
Work from home 10%10%12%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute under 10 minutesunder 10 minutes10 to 19 minutes20 to 29 minutes

By size, households in Colby look like those in Thomas County: 2.33 people on average.

In Colby, 83% of workers drive alone to work; in Thomas County, 82%.

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 Colby?

A typical home is within reach of the typical income

We start with a typical home in Colby, worth $163,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 27% of the typical household income in Colby, which is $63,494 a year.

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

Your numbers

Local data
$

Starts at the typical home value in Colby. 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 $5,705 (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

$1,439

at 7.18% · 30 years

Loan amount
$160,048
Total interest
$230,271
Paid off in
November 2056

Includes $2,753 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,482 a month

    Your payment · 27%

  • Tight

    $1,482 to $1,905 a month

  • Hard

    more than $1,905 a month

Compared with the typical household income in Colby ($63,494 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,439
Principal & interest$1,084
Property tax$215
Home insurance$68
FHA mortgage insurance (MIP)$72

You need at least $5,705 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

Colby and Thomas County

Colby is in Thomas County, Kansas. 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).

Colby's own numbers

Typical home value
$163,000
Typical monthly rent
$750
Typical yearly household income
$63,494
Households that own their home
67%
Effective property tax rate
1.58%

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

Numbers for all of Thomas County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$961
Price change over 5 years (FHFA)
+39%

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 Thomas County.

Everything about Thomas County

Buying

Buying a home in Colby

A typical home in Colby is worth $163,000: 6% below the county and 25% below Kansas. With the typical household income in Colby ($63,494 a year), a typical home costs 2.6 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.

  • Colby 2.6 years
  • Thomas 2.4 years
  • Kansas 2.9 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Thomas County

According to FHFA’s house price index, home prices in Thomas County rose 54% in the 10 years through 2025.

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

Period County Kansas U.S.
Last year (2025) −3.2% +4.1% +2.9%
5 years (2020–2025) +39% +49% +47%
10 years (2015–2025) +54% +84% +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

Colby next to Thomas County, Kansas and the U.S.

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

Typical home value
  • Colby $163,000
  • Thomas $172,700
  • Kansas $217,200
  • United States $332,700
Typical monthly rent
  • Colby $750
  • Thomas $752
  • Kansas $1,060
  • United States $1,413
Typical yearly household income
  • Colby $63,494
  • Thomas $71,325
  • Kansas $74,275
  • United States $80,734
See the full table
Colby next to Thomas County and Kansas
Measure Colby Thomas County Kansas U.S.
Typical home value $163,000 $172,700 $217,200 $332,700
Typical monthly rent $750 $752 $1,060 $1,413
Typical yearly household income $63,494 $71,325 $74,275 $80,734
Households that own their home 67% 75% 67% 65%
Typical yearly property tax $2,573 $2,440 $2,798 $3,119
Effective property tax rate 1.58% 1.41% 1.29% 0.94%
Renters with high rent for their income 62% 59% 43% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Thomas 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 Colby

For a typical $163,000 home in Colby, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Colby's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,439a month

    Least cash to close
    Down payment
    $5,705
    Cash to close
    $10,595
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $72

  • Conventional, 5% down $1,409a month

    Down payment
    $8,150
    Cash to close
    $13,040
    Rate
    7.18%
    Mortgage insurance
    PMI · $77

  • Conventional, 20% down, no PMI $1,166a month

    Down payment
    $32,600
    Cash to close
    $37,490
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,317a month

    Down payment
    $24,450
    Cash to close
    $29,340
    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 Colby and for Thomas County.

Property tax

Effective rate in Colby

1.58%of the home’s value each year

$2,573 a year for the typical owner in Colby.

  • Colby 1.58%
  • Thomas 1.41%
  • Kansas 1.29%

What Kansas publishes Residential exemption from the statewide school levy (Kansas Office of Revisor of Statutes (Kansas Statutes Annotated))

Exemptions and deadlines in Kansas

Flood risk in Thomas County

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

FEMA’s maps count no homes in the high-risk zone in Thomas County. That does not mean it cannot flood: check your address.

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Colby

Typical rent in Colby is $750 a month: about the same as the county. In Colby, 62% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Thomas County, by unit size. To pay the 2-bedroom one ($961 a month) without spending more than 30% of your income, you would need to earn $18.48 an hour working full time.

HUD fair market rent for all of Thomas 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 $707 $13.60 $28,280
1 bedroom $759 $14.60 $30,360
2 bedrooms $961 $18.48 $38,440
3 bedrooms $1,154 $22.19 $46,160
4 bedrooms $1,418 $27.27 $56,720

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 Colby

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Colby is in ZIP code 67701.

For 2 bedrooms it is $960: $1 less than the fair market rent for Thomas County ($961).

  • 67701 $960$1,150

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Colby 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 Colby

HUD lists 3 buildings with rents for lower incomes in Colby. These are the largest.

  • South Park Apartments 600 S Mission Ave, Colby 67701 112 low-income homes · Run by Housing Authority of the City of Colby · Average payment: $581 a month · Average wait: 3 months (785) 460-6763
  • Colby House 770 Dylan Dr, Colby 67701 16 homes, 15 low-income · In service since 1999
  • ST Thomas Historic Residences 210 S Range Ave, Colby 67701 30 homes · In service since 2014

See all 3 buildings in Thomas County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Colby

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 Thomas County. The nearest ones are below; many serve by phone or online.

An older man and his daughter go over papers with a professional.

HUD counseling is free or low-cost

Assistance programs in Colby

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

Which programs do I qualify for? All programs in Kansas

  • First Time Homebuyer Program

    Statewide in Kansas

    Kansas state corporation 0% loan for 15% or 20% of the price for the down payment and closing costs, forgiven after 10 years in the home, for households with income up to 80% of the area median; not available in Johnson County or in Kansas City, Lawrence, Topeka and Wichita. Offered by Kansas Housing Resources Corporation (KHRC).

    Forgivable

    See the program Official page

Housing counselors near Colby

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

  • Catholic Charities of Southwest Kansas

    804 N 2nd Ave, Dodge City · 125 miles away · Spanish

    Also serves in Creole, French, and Swahili.

    • Budget and financial counseling
    • Home improvement and repairs
    • and 4 more
    (620) 227-1562

  • Cambridge Credit Counseling Corporation - Wichita Branch

    727 N Waco Ave, Wichita · 232 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    (800) 757-1788

  • Community Housing of Wyandotte County, Inc.

    2 S 14th St, Kansas City · 343 miles away · Spanish

    • Mortgage delinquency and default
    • Workshops for new owners
    • and 3 more
    (913) 342-7580

All counseling agencies in Kansas

Help in Spanish near Colby

2 of the 3 agencies on this list say they serve 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 Colby

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

  • Housing Authority of the City of Colby Public housing (785) 460-6763

All housing agencies in Kansas Source: HUD

Cities

Nearby cities

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

Everything about Thomas County Housing in Kansas

Neighboring counties

If Thomas 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 Colby.

All guides
A mother holds hands with her two daughters on the beach at sunset.

Questions

Housing questions about Colby

Short answers with the numbers for Colby and all of Thomas 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 Colby?

The typical home value in Colby is $163,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Thomas County it is $172,700.

How much does it cost to rent in Colby?

Typical rent in Colby is $750 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Thomas County is $961.

What is the FHA loan limit in Colby?

Colby uses the FHA limit for all of Thomas 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 Colby?

The typical homeowner in Colby pays $2,573 a year, according to the U.S. Census Bureau. That is 1.58% of the home’s value; in Thomas County, the rate is 1.41%.

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

We found no HUD-approved counseling agencies with an office in Thomas 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).