Calculate using real Denver data. Median home price: $525,000. Property tax rate: 0.56%.
With the median household income of $78,177 in Denver, CO, following the 28% rule, you could afford a monthly payment of about $1,824.
The cost of living index in Denver, CO is 130 (national average = 100). A home at the median price of $525,000 would require roughly 6.7x the median income.
A conventional 20% down payment on the median Denver, CO home ($525,000) would be $105,000. FHA loans may require as little as 3.5% ($18,375).