Quick facts: Silverton, CO

Quick Facts

114.3
Cost of Living
above US average
713
Population
7.01
Crime Rate per 1000
below US average
$64,000
Median Income
below US average
$520,000
Median House Price
above US average
$2126
Average Rent
above US average
8%
Poverty Rate
below US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $64,000.

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Income Needed to Buy

βœ— Stretch
$163k/year
Based on $520,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $163k vs median $64,000
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Income Needed to Rent

⚠ Stretch
$91k/year
Based on $2126/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $91k vs median $64,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Silverton, CO

Silverton is a picturesque small town located in San Juan County, Colorado. Nestled at an elevation of 9,318 feet, this historic mining town is surrounded by the stunning San Juan Mountains, offering breathtaking views and outdoor recreational opportunities. Established during the Colorado Gold Rush in the late 19th century, Silverton is known for its well-preserved Victorian architecture and rich mining history. The town is a gateway to various outdoor activities, including hiking, mountain biking, and off-road adventures. Silverton is also famous for the Durango & Silverton Narrow Gauge Railroad, a historic steam-powered train that provides scenic rides through the rugged wilderness. With a population of around 600 residents, Silverton has a cozy, tight-knit community feel. The town's annual events, such as the Silverton Winterfest, attract both locals and tourists, highlighting its charming character. Visitors can explore shops, galleries, and local eateries, making it a delightful destination for those seeking a mix of history and adventure in Colorado's mountain landscape.

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