Jonathan Thompson

Jonathan Thompson

One hundred and fifteen thousand dollars. That’s what it takes for a down payment to buy an average-priced home in Durango, Colorado. Then an aspiring homeowner must fork out another $2,900 each month, which is more than two-thirds of their household’s paychecks if they make the median income for the metro area.

That’s because the average home in Durango, a town of 17,000 in the southwestern part of the state, is going for nearly $600,000. That’s way out of reach for professors at the local college, Fort Lewis, even if two of them making the median faculty salary were to go in on a house together.