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Garfield County, CO

Rent vs Own in Garfield County, Colorado

Buying the median Garfield County home costs roughly $3,006/mo against a $1,605/mo HUD rent, ownership runs well above the rent benchmark here, so the page focuses on why the stack is so heavy. Owner-occupied homes: 16,292.

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Renting is cheaper in Garfield County

Ownership works out near $3,006/mo while a comparable 2-bedroom rents for $1,605/mo - a wide monthly miss for buyers. That is a $1,401/mo difference.

Based on 20% down, 6.5% rate, 30-year mortgage. Adjust below.

What This Data Tells Us About Renting vs Owning in Garfield County

Primary driver

Ownership sits far above the rent benchmark

The $527,800 median home in Garfield County carries $2,201/yr in tax at 0.42%. Against HUD's $1,605/mo 2-bedroom rent, the ownership stack (~$3,006/mo) is a wide miss - roughly $1,401/mo. Here the useful question is which line item (price, tax, or insurance) dominates the overage, not whether a small assumption change closes it.

Decision signal 2

The tax rate is a national tailwind

Garfield County's 0.42% effective rate is among the lowest of 3,135 tracked counties: roughly 92% pay a higher rate. That low tax line is one reason owning can compete here.

Decision signal 3

The purchase price is the larger hurdle

Median household income is $91,131, so the 5.8x home-price-to-income ratio is the binding constraint here, even before the 2.4% of income that goes to property tax. Buyers in this band usually need a larger down payment or a longer commute to a cheaper ZIP before the monthly ownership math clears.

Decision signal 4

The county sits near the state middle

Using the assumptions above, Garfield County ranks 44 of 64 Colorado counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 20 other Colorado counties on this measure.

Decision signal 5

HUD moved the rent benchmark up

HUD raised its 2-bedroom Fair Market Rent for Garfield County from $1,599/mo in FY2025 to $1,605/mo in FY2026: it increased by $6/mo (+0.4%). A rising rent benchmark widens the gap in favour of owning over time, because the mortgage share of the ownership cost below is fixed at origination while the rent it is compared against reprices every year.

Methodology & disclaimer

This calculator is for informational purposes only and is not tax, legal, or financial advice. Property tax figures come from the U.S. Census Bureau ACS 5-Year Estimates and rent figures come from HUD Fair Market Rents; both describe area medians, not individual transactions. Insurance is estimated at 0.35% of home value annually and closing costs, maintenance, HOA, and PMI are not included. Consult a licensed mortgage, tax, or real-estate professional before making a buy-or-rent decision based on these numbers.

Monthly Cost Breakdown

Estimated Monthly Ownership
$3,006
Mortgage (P&I) $2,669
Property Tax $183
Insurance (est.) $154
Monthly Rent (2-BR FMR)
$1,605
Studio$1,215
1-Bedroom$1,223
2-Bedroom$1,605
3-Bedroom$2,232
4-Bedroom$2,391

Adjust Your Scenario

Affordability Context

Median Household Income
$91,131
$7,594/mo
Home Price / Income
5.8x
Expensive (>5x)
Tax-to-Income Ratio
2.4%
National benchmark: 2-4%

Who actually pays it here

In Garfield County, once the mortgage ends staying put is close to free: the largest cluster of debt-free households faces a yearly charge under $800, so insurance and upkeep, not the tax office, set what the home costs to keep.

Unusually for Garfield County, returns above $200,000 form the single largest block claiming it, a concentration only a minority of US counties show and a marker of high property values.

When the ownership stack already sits far above HUD rent, that annual bill is less a tie-breaker and more confirmation that holding costs stay material long after the loan is gone.

Bill bands are Census ACS counts of owner-occupied homes without a mortgage. Income brackets are IRS Statistics of Income county data for tax year 2022, counted over FILERS reporting real-estate taxes on Schedule A, which is a smaller group than homeowners: most filers take the standard deduction.

Nearby Counties

El Paso County
Home: $461,000 Tax: $1,874/yr
Jefferson County
Home: $637,600 Tax: $3,082/yr
Arapahoe County
Home: $561,200 Tax: $2,938/yr
Denver County
Home: $616,000 Tax: $2,751/yr
Adams County
Home: $484,200 Tax: $2,962/yr
Douglas County
Home: $713,600 Tax: $3,947/yr

Frequently Asked Questions

Is it cheaper to rent or buy in Garfield County, Colorado? ▼
Owning the median Garfield County home is a wide miss versus HUD's 2-bedroom rent (about $1,401/mo more) on the standard stack. Treat this as a tenure/equity decision first; the cash-flow comparison alone will not favour buying here.
What is the average rent in Garfield County? ▼
HUD prices a 2-bedroom unit at $1,605/mo here. Sizing up matters: going from a studio to a 4-bedroom adds about $1,176/mo, so the per-bedroom jump is worth checking against your actual space needs before assuming the 2-BR figure applies to your situation.
How much house can you afford in Garfield County? ▼
On the common 3x-income guideline, a $91,131 household here can afford up to $273,393 -- about $254,407 short of this county's $527,800 median home. That gap is typically closed with a larger down payment, dual incomes, or a longer search outside the median price band.
What is the median home price in Garfield County? ▼
$527,800, per the Census Bureau's ACS 5-Year Estimates. What stands out more than the price itself is the tax load on it: this county's 0.42% effective rate sits near the low end of the 3,135 counties tracked here.
How does Garfield County compare to other Colorado counties for renting vs buying? ▼
Out of 64 Colorado counties ranked here on buy-vs-rent value, Garfield County lands at spot 44, roughly in the middle of the pack statewide. The <a href="/states/colorado">Colorado state page</a> lists every peer county's tax bill beside this one.
Is rent going up or down in Garfield County? ▼
HUD's 2-bedroom Fair Market Rent figure has risen 0.4% between the FY2025 and FY2026 publications, the two most recent years tracked here.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from the U.S. Census Bureau (American Community Survey). See our methodology for details. Retrieved and formatted by PlainPropertyTax

Source: U.S. Census Bureau, Government Finances State and local property tax revenue by jurisdiction · 2025

Verify with HUD →