Affordable Homes for Sale in Boulder, CO

Affordable homes in Boulder: the numbers this week

Cheap homes in Boulder are condos and townhomes: 90 percent of the 118 listings under $400,000 carry an HOA, median $484 a month, and that line decides the payment as much as the price does. The grid above is every one of them, updated daily; the charts below show where they are, what they cost a month and which programs bring the cash to about $1,000.

The full payment on the median affordable Boulder home is about $2,793 a month, which a lender approves at about $112,000 a year of income at 30 percent, or $74,000 at 45 percent. Under $300,000 it is a one- or two-bedroom condo of about 864 square feet. The first townhomes with a garage appear in the $300,000s, and a detached house under $400,000 is rare and sells in days.

How the price comes down in Boulder

• CHFA assistance: 3 percent grant or 4 percent second mortgage, 620 score, income under $178,920, repeat buyers welcome. The program and the $1,000 cash-to-close math.
• City of Boulder permanently affordable homes: deed-restricted condos and townhomes sold 30 to 50 percent under market to households under the income limit; the resale is capped.
• Boulder County Down Payment Assistance: a deferred second for buyers under 80 percent of area median income.
• HUD homes at $100 down: Boulder HUD homes, when one is listed.
• Rent-to-own, priced honestly: Boulder rent-to-own homes and why assistance beats it.

Related Boulder searches

Boulder starter homes · Boulder condos · Boulder townhomes · Boulder 2-bedroom homes · Boulder 3-bedroom homes · Boulder fixer-uppers · Boulder foreclosures · Boulder homes that pass FHA · All Boulder homes for sale. Nearby: Longmont (95 under $400,000), Lafayette (22 under $400,000), Louisville (9 under $400,000), Broomfield (47 under $400,000). Statewide: affordable homes in Colorado, the Denver affordable homes guide.

Questions people ask about affordable homes in Boulder

Where are the cheapest homes for sale in Boulder?

In Gunbarrel and east Boulder, north Boulder and central Boulder and University Hill. ZIP 80301 alone holds 61 of the 118 Boulder homes under $400,000 this week, and the top three ZIPs hold 81 percent. The map above shows every one; the ZIP pages start with 80301.

What does $300,000 buy in Boulder today?

Under $300,000 it is a one- or two-bedroom condo of about 864 square feet. The first townhomes with a garage appear in the $300,000s, and a detached house under $400,000 is rare and sells in days. 59 Boulder homes are listed under $300,000 this week and 31 under $250,000.

How much is the monthly payment on an affordable Boulder home?

About $2,793 on the $300,000 median with an FHA loan at 7 percent and 3.5 percent down: $1,926 principal and interest, $484 HOA, $150 taxes, $133 mortgage insurance, $100 insurance. A lender approves that payment at about $112,000 a year of income. Run your own numbers on can I afford a home now.

How much cash do I need to buy a cheap home in Boulder?

About $1,000 with CHFA assistance: the 3 percent grant covers the FHA down payment ($10,500 on the median), the seller pays closing costs through the offer, and the earnest money comes back at closing. Without assistance it is about $16,000. The worked example is on $1,000 cash to close; the rules on CHFA down payment assistance.

Which down payment programs work in Boulder?

CHFA statewide (620 score, income under $178,920, 3 percent grant or 4 percent second mortgage). City of Boulder permanently affordable homes: deed-restricted condos and townhomes sold 30 to 50 percent under market to households under the income limit; the resale is capped. Boulder County Down Payment Assistance: a deferred second for buyers under 80 percent of area median income. Every program and its catch is on affordable homes in Colorado.

Are there HUD homes or foreclosures in Boulder?

HUD homes sell as-is at HUD's appraised price with a $100 down option on an FHA loan; Colorado has 26 this week and the list changes every Monday on Boulder HUD homes. Bank-owned and fixer listings are on Boulder foreclosures and Boulder fixer-uppers.

Is rent-to-own cheaper in Boulder?

No. A lease-option on a $300,000 home takes about $9,000 up front plus a rent premium, with no title until the end, where CHFA puts you on title now for about $1,000 at a 620 score. The side-by-side is on Boulder rent-to-own homes.