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DURANGO, Colo.—Housing prices have been high in Durango for years, but now 72 percent of its residents cannot afford to buy a home.
The Herald reports that the median price of a home is $350,000. It also said many residents have problems paying basic bills.
Anyone seeking to buy a home needs to have a combined income of at least $86,000. The median family income in the city is $60,600.
The average monthly rent for a one-bedroom apartment is $645.
