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## Mead Real Estate Market Facts

• \$321,800Median home price
• 96.1%Home owners
• 2.9People per home

• \$321,800Median home price
• \$92,011Median home income
• 3.5xHome price to income ratio
When searching for real estate in Mead, CO, home affordability is a critical aspect. The ratio of the house price to the median household income is one method used to figure out home affordability. In Mead, CO, the median house price is \$321,800, while the median income for households in the area is \$92,011. Therefore, the ratio of house price to income is 3.5x; this ratio is 17% lower than the average in Colorado. The calculation for the ratio of home affordability requires dividing the median household income by the median house price. The lower the aforementioned ratio, the more affordable homes are - when comparing the house price to the household income. However, there are more factors that come into play in terms of home affordability. The calculator below determines home affordability, and it can help you decide how much money you can afford to pay for real estate in Mead, CO.

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So you want to buy some real estate in Mead, CO. What can you expect to pay for it on a monthly basis? This is determined in a number of different ways. One of the biggest variables when it comes to calculating the monthly price is simply the cost of the house itself. There are other significant factors though, such as interest rates, home owner's association fees, the amount of a down payment that was put on the property, PMI (private mortgage insurance), and property taxes. You can eliminate all PMI payments by making a down payment of at least 20% on the house. Using a mortgage calculator will have all these variables available, but they will be filled out with default data. These can be tweaked and filled in with the data specifically for the home you're looking at for a better overview of the monthly cost. When buying a home, you want to keep your debt to income ratio at 36%. This means that you want to pay no more than 36% of your monthly income on your house and other debt payments.

• 4,181Population
• 341People / sq mile
• 38.5Median age
• 1.0:1Male/Female ratio

## Nearby cities with low home prices

 City, State Population Home Price National Avg. Blue Sky, CO 15 \$0 100% Leyner, CO 27 \$0 100% Gilcrest, CO 951 \$150,200 19% La Salle, CO 2,588 \$157,800 15% Fort Lupton, CO 7,814 \$165,000 11% Mead, CO 4,181 \$321,800 74%

## Cities with similar population

 City, State Population Home Price National Avg. Beaufort, NC 4,181 \$203,700 10% Bethel Manor, VA 4,181 \$0 100% La Verkin, UT 4,182 \$136,500 26% Westover, WV 4,180 \$139,500 24% Canton, NC 4,182 \$133,600 28% Mead, CO 4,181 \$321,800 74%
Source: The Mead, CO housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).