Estimate your monthly mortgage payment in Aurora. With a median home price near $490,000 and a property tax rate around 0.52%, see your full principal, interest, tax, and insurance payment.
Last updated: May 2026 · Data: MIT Living Wage Calculator, C2ER, U.S. Census, BLS, IRS, state and city sources
The median home price in Aurora is about $490,000, and Arapahoe County has an effective property tax rate near 0.52% of value per year. Colorado levies a flat 4.4% state income tax and has some of the lowest effective property tax rates in the country, held down by the state's residential assessment rate, though high home prices still make the dollar amount of property tax meaningful.
| Cost Item | Aurora Estimate |
|---|---|
| Median Home Price (2026) | $490,000 |
| 20% Down Payment | $98,000 |
| Loan Amount (80% LTV) | $392,000 |
| Effective Property Tax Rate | 0.52% per year |
| Est. Annual Property Tax | $2,548/year |
| Est. Monthly Property Tax | $212/month |
| Average Rent (2-bedroom) | $1,850/month |
Your payment includes principal and interest (fixed for a fixed-rate loan), plus property tax and insurance, typically escrowed. With less than 20% down you also pay PMI, usually 0.5% to 1.5% of the loan per year until you reach 20% equity.
Aurora is the third-largest city in Colorado, just east of Denver, with an economy anchored by the Anschutz Medical Campus and a large biosciences cluster, Buckley Space Force Base, aerospace and defense, logistics, and one of the most diverse populations in the state.
| Local Metric | Aurora (2026 estimate) |
|---|---|
| Metro population | 395,000 |
| County / jurisdiction | Arapahoe County |
| Cost of living index (US avg = 100) | 100 |
| MIT living wage, single adult | $21.50/hour |
| MIT living wage, one earner supporting a family of four | $43.50/hour |
| Applicable minimum wage | $15.00/hour |
| Average rent, 1-bedroom | $1,500/month |
| Average rent, 2-bedroom | $1,850/month |
| Median home price | $490,000 |
| Median household income | $80,000/year |
| Combined sales tax rate | 8% |
| Effective property tax rate | 0.52% of value/year |
Local figures are 2026 estimates compiled from the MIT Living Wage Calculator, the C2ER Cost of Living Index, U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
The median home price in Aurora is approximately $490,000 in 2026. A 20% down payment is about $98,000, leaving a loan of roughly $392,000. Prices vary widely by neighborhood.
The effective property tax rate in Arapahoe County is about 0.52% of value per year. On a $490,000 home that is roughly $2,548/year, or about $212/month, usually collected through escrow.
A common guideline keeps housing payments (PITI) under 28% of gross monthly income. On a $490,000 home with 20% down at 6.75% over 30 years, plan for a healthy six-figure household income to stay within that guideline in Aurora.
Average rent in Aurora is about $1,500/month for a 1-bedroom and $1,850 for a 2-bedroom. Compare that to the calculated PITI payment above. In higher-cost Colorado metros like Denver, buying often costs more per month than renting for several years before equity catches up, so compare both carefully.
Most conventional lenders want 620+, FHA allows 580 with 3.5% down, and VA and USDA loans have no set minimum but lenders prefer 620+. A score of 740+ earns the best rates and can save tens of thousands over the loan.