Affordable Homes in Pueblo: Where the Cheapest Houses in Colorado Are, What They Cost a Month, and How to Buy One for About $1,000

The short answer

Where are the cheapest homes in Pueblo?

Pueblo's affordable homes are houses: brick bungalows from the 1900s to 1950s in Bessemer and the North Side, 1950s and 1960s ranches in Belmont and Sunset Park, and 1990s to 2010s stucco ranches on big lots in Pueblo West. Condos barely exist here, which is why the HOA share is 12 percent.

• 81004, Bessemer and the South Side: 74 homes under $400,000 this week, median $239,900, from $17,000; mostly houses on their own lots (4 percent carry an HOA), 66 percent with three bedrooms or more, about 1,319 square feet at the median. The old steel-mill neighborhood south of the Arkansas River: 1900 to 1940 brick bungalows of 900 to 1,400 square feet on alley lots, from under $100,000 for a fixer to the mid $200,000s renovated. The lowest prices in the state for a deeded house.
• 81001, Belmont and the East Side: 65 homes under $400,000 this week, median $230,900, from $59,900; mostly houses on their own lots (8 percent carry an HOA), 69 percent with three bedrooms or more, about 1,344 square feet at the median. Belmont is 1950s and 1960s ranches near CSU Pueblo and Parkview hospital, 1,100 to 1,500 square feet with garages; the East Side below it is older and cheaper.
• 81005, Sunset Park and Regency: 46 homes under $400,000 this week, median $290,000, from $55,000; mostly houses on their own lots (13 percent carry an HOA), 83 percent with three bedrooms or more, about 1,536 square feet at the median. The southwest side: 1960s to 1980s ranches and tri-levels of 1,300 to 1,800 square feet, 83 percent with three bedrooms or more, the best-kept pocket under $300,000 and the one with the most garages.
• 81003, the North Side and Mesa Junction: 38 homes under $400,000 this week, median $220,000, from $79,000; mostly houses on their own lots (5 percent carry an HOA), 63 percent with three bedrooms or more, about 1,235 square feet at the median. 1890s to 1930s houses north of downtown, the Mesa Junction shops, the Union Avenue historic district a walk away; the cheapest two-bedrooms and the oldest plumbing.
• 81008, University Park and Eagleridge: 28 homes under $400,000 this week, median $325,000, from $145,000; a mix of condos and houses (50 percent carry an HOA), 86 percent with three bedrooms or more, about 1,518 square feet at the median. The north end by the Eagleridge shopping center and CSU Pueblo: 1990s and 2000s ranches and a few townhomes, the only pocket where half the homes carry an HOA.
• 81007, Pueblo West: 17 homes under $400,000 this week, median $368,500, from $245,500; mostly houses on their own lots (12 percent carry an HOA), 94 percent with three bedrooms or more, about 1,550 square feet at the median. The unincorporated west side: 1990s to 2020s stucco ranches of 1,500 to 1,800 square feet on half-acre to acre lots, USDA-eligible for zero down, and the highest prices on this list because the houses are the newest.
• 81006, St. Charles Mesa: 8 homes under $400,000 this week, median $390,000, from $230,000; mostly houses on their own lots (0 percent carry an HOA), 88 percent with three bedrooms or more, about 2,128 square feet at the median. East of town: older farmhouses and 1970s ranches on an acre or more, a well and septic in places, USDA-eligible, and a handful under $400,000 at a time.

What does $200,000, $260,000 and $350,000 buy in Pueblo?

What does an affordable Pueblo home cost a month?

Pueblo's prices are the lowest in the state and its property taxes are among the highest mill levies, so the tax line here is bigger than Colorado Springs' on a dearer house. Insurance is also higher than the Front Range average because of hail and the age of the roofs. The payment still lands under any Denver condo.

Pueblo West homes on well and septic add a $300 to $500 a year well test and pumping cycle instead of a water bill; the trade is a half-acre lot. Run your own numbers on can I afford a home now.

Which programs cut the cash, and what is the catch?

How many bedrooms do cheap Pueblo homes have?

Three bedrooms is the Pueblo affordable home: about 122 three-bedroom houses under $400,000 this week, and Sunset Park, University Park and Pueblo West run 83 to 94 percent three-plus. The bedroom-count pages: 1-bedroom, 2-bedroom, 3-bedroom, 4-bedroom Pueblo homes.

What to check before you buy a cheap home in Pueblo

• The sewer line and the plumbing. Bessemer and North Side houses from 1900 to 1940 carry clay sewer lines and, in some, galvanized supply pipe; a $250 sewer scope is the best money you spend.
• Lead paint and asbestos. Pre-1978 houses, which is most of Pueblo under $250,000, come with the federal lead disclosure; budget for encapsulation if you have a renovation planned, and test old floor tile and duct wrap before you disturb them.
• The roof. Pueblo hail is as hard as Denver's and the roofs are older; insurers quote $1,800 to $3,500 a year on a 20-year roof and some decline it.
• Flood zones along Fountain Creek and the Arkansas. Low ground in Bessemer, the East Side and the Mesa sits in mapped flood zones; the insurance adds $800 to $2,500 a year.
• Foundations on the Mesa and in Pueblo West. Expansive soils and shallow bedrock; a structural look at any crack wider than a quarter inch.
• Well and septic in Pueblo West and on the Mesa. A water test and a septic inspection are seller-paid asks in the standard Colorado contract.
• The mill levy. Pueblo taxes a $260,000 house at about what Colorado Springs taxes a $350,000 one; the payment table above already uses the Pueblo rate.

The 60-day plan to buy an affordable home in Pueblo

1. Day 1: call or text 303-955-4220. We set up the under-$400,000 search and send the lender introduction the same day.
2. Days 1 to 7: pre-approval with CHFA or USDA priced side by side with plain FHA; the two-hour homebuyer class online. Mortgage pre-approval.
3. Days 7 to 30: tour the pockets above, two or three a day, with the inspection history and the roof age pulled before each showing.
4. Days 30 to 35: the offer, written with seller-paid closing costs and the earnest money sized to come back to you.
5. Days 35 to 60: inspection, appraisal, clear to close. You bring about $1,000.

Quick answers

Where are the cheapest houses in Pueblo?

Bessemer and the South Side (81004) and the East Side and North Side (81001, 81003) for the lowest prices, from under $100,000 for a bungalow that needs work. Sunset Park and Regency (81005) is the best-kept pocket under $300,000. All 276 homes under $400,000 are on affordable homes for sale in Pueblo.

Is Pueblo the cheapest place to buy a house in Colorado?

Among cities with real inventory, yes: 276 homes under $400,000 this week, 189 under $300,000, median $259,000, and 88 percent without an HOA. Only the plains towns (Fort Morgan, Brush, Sterling, Trinidad) run lower, with a fraction of the inventory.

How much is the payment on a $260,000 Pueblo house?

About $2,001 a month with an FHA loan at 7 percent and 3.5 percent down, including Pueblo's taxes, insurance and mortgage insurance and no HOA; a lender approves that at about $80,000 a year of income.

Can I buy in Pueblo West with nothing down?

Yes, with a USDA loan if your household income is under the Pueblo County limit: Pueblo West and St. Charles Mesa are inside the USDA map. The mortgage insurance is a third of FHA's, and the seller pays closing costs through the offer. Inside the city limits USDA does not apply; CHFA does.

Why is my Pueblo payment higher than the price suggested?

Taxes and insurance. Pueblo's mill levy is one of the highest in the state and insurers price the older roofs and hail, so taxes plus insurance run $300 to $400 a month on a $260,000 house against $200 in Colorado Springs. The table above shows every line.

Are there HUD homes in Pueblo?

One to three at a time, sold as-is at HUD's appraised price with the $100 down FHA option. Pueblo HUD homes has the live list.

Can I use a loan to fix up a cheap Pueblo house?

Yes. An FHA 203(k) rolls the repairs into the mortgage (up to $75,000 on the limited version), and CHFA assistance still applies to the down payment on it. It is the standard route for the sub-$200,000 bungalows in Bessemer and the North Side.

Keep going

Every Pueblo home under $400,000, updated daily · Affordable homes across Colorado · The Denver affordable homes guide · $1,000 cash to close · CHFA assistance · Pueblo starter homes · Pueblo condos · Pueblo townhomes · Pueblo HUD homes · Pueblo rent-to-own · Credit care · All Pueblo homes. Nearby: Colorado Springs, Fountain.