Ouray Homes under $1.5 million

Welcome to Ouray, Colorado—a hidden gem nestled in the heart of the San Juan Mountains. Known as the "Switzerland of America," Ouray boasts breathtaking landscapes, stunning mountain vistas, and an inviting small-town charm that captivates both residents and visitors alike. Surrounded by towering peaks and lush valleys, this picturesque town is a haven for outdoor enthusiasts, offering a plethora of activities including hiking, biking, and world-class ice climbing in the winter months.

As you explore the real estate opportunities in Ouray, you'll find a diverse selection of homes available for under $1.5 million. Whether you're seeking a cozy mountain cabin, a contemporary home with panoramic views, or a historic property with character, Ouray has something to suit every taste and lifestyle. Many of these homes showcase exquisite craftsmanship and are designed to blend seamlessly with the natural beauty of the region.

Living in Ouray means embracing a lifestyle that prioritizes adventure and community. The town is rich in history, with charming streets lined with Victorian-era buildings, artisanal shops, and delightful eateries. Residents enjoy access to the renowned Ouray Hot Springs, perfect for relaxing after a day of exploration. With a strong sense of community, local events and festivals bring residents together, fostering connections and creating lasting memories.

If you’re ready to make Ouray your home, the real estate market offers an exciting array of opportunities under $1.5 million. Discover the magic of mountain living and let the beauty of Ouray inspire your next chapter!

Newest Ouray Homes under $1.5 million

$479,500

2 Beds ⋅ 1 Baths ⋅ 839370 MLS

Discover a rare opportunity to own a rustic cabin situated on a historic mining claim along the slopes of legendary Red Mountain. Located just outside Ouray on the scenic route to Silverton, Colorado, this property offers an exceptional blend of history, privacy, and natural beauty. Several years ago, Ouray County prohibited the construction of additional cabins on Red Mountain mining claims, rendering properties like this truly scarce. Access is gained by driving through the historic Guston townsite—an 1880s silver mining camp whose remnants remain visible today—adding distinctive character and a tangible connection to the region’s storied past. The cabin features stunning views of the San Juan Mountains, framed perfectly by the front room window. Off-grid and thoughtfully constructed for durability and simplicity, it includes a functional back deck with a generous overhang. This covered outdoor space provides shelter from the elements while offering an ideal setting for outdoor dining and taking in the surrounding alpine scenery. With two bedrooms and one bathroom, the cabin strikes an appealing balance of understated comfort and rustic charm. Schedule a private showing today to experience this unique mountain retreat before it is gone.

165 Guston Trl, Ouray

$665,000

2 Beds ⋅ 1 Baths ⋅ 839250 MLS

Affordable Ouray opportunity! This 2-bed, 1-bath home is walking distance to everything in town, with a lovely backyard and views of the Amphitheater and Twin Peaks. Recent updates include new flooring (2022), new windows with a transferable warranty (2023), new blinds (2023), and quality new appliances (2023). The forced-air ducts were professionally cleaned in 2025. A metal roof tops the house, and a high-end wood stove keeps it cozy through the winter. Two storage sheds are included. The zoning allows multi-family use and short-term vacation rentals, so it works as a full-time home, second home, or income property. Schedule your showing today.

229 2nd St, Ouray

$875,000

3 Beds ⋅ 2 Baths ⋅ 839105 MLS

WHAT'S YOUR OURAY DREAM? Has Ouray become your special place—a place where you escape the busy pace of life, leave the car behind and reconnect with the things that matter most? Perhaps you dream of having more time to read, write, create, explore and finally finish the projects you've been considering for years. Maybe your family discovered the “Switzerland of America” generations ago, and you're ready to create a legacy property for the people you love. Or perhaps hiking, skiing, jeeping, ice climbing, photography and the endless possibilities of the San Juan Mountains simply call to you at a deeper level. If you've been dreaming about actually living in Ouray, this exceptional Oak Street location may be the opportunity you've been waiting for. Perched on one of Ouray's most remarkable residential streets, this 1,784-square-foot home occupies a special setting overlooking town with spectacular views of the iconic Ouray Amphitheatre, its legendary alpenglow, Cascade Falls, Gold Hill, Mount Abrams and the surrounding San Juan Mountains. From here, the Fourth of July and New Year's Eve fireworks appear almost directly overhead, while the soothing sound of the Uncompahgre River provides a remarkably peaceful backdrop at the end of the day. It is a setting that feels quintessentially Ouray. And the location is every bit as compelling as the views. Step out your front door and you're within easy reach of the Box Canyon area, Oak Creek Trail and multiple access points to the Ouray Perimeter Trail. Walk to the world-famous Ouray Hot Springs Pool, explore the town's historic streets, or enjoy dinner downtown before taking a leisurely walk home. This is the kind of location that allows you to experience Ouray as a resident rather than simply as a visitor. Inside, the home's single-level floor plan offers exceptional convenience, whether you're looking for a full-time Ouray residence, mountain getaway, seasonal home or future legacy property. The central living, dining and office areas enjoy wonderful eastern exposure and big mountain views, while the surprisingly spacious kitchen and mudroom occupy the rear of the home with convenient access to the side parking area and backyard. Three generously sized bedrooms include a primary suite positioned to capture views overlooking town. The primary bath features a beautiful walk-in shower, while the second bath adds its own distinctive personality with a skylight framing views toward Twin Peaks and a relaxing soaking tub. The office just inside the entry may become one of your favorite spaces—a sunny, inspiring place for working remotely, writing, reading, morning coffee or simply enjoying the spectacular Ouray setting. Outside, the larger-than-average town lot is surrounded by massive natural boulders that seem to stand guard around the property. The home sits comfortably in the center of the lot, leaving meaningful opportunities to expand or create additional outdoor living spaces. The backyard is particularly inviting, with a large protected patio, access to the elevated portion of the yard and a fully fenced setting framed by those magnificent boulders. From the upper yard, enjoy expansive mountain views toward Rock of Ages and the Amphitheatre. There is a wonderful sense of privacy here while remaining remarkably close to everything that makes Ouray special. The property is located in an area of town where 30-day-or-longer mid-term rentals are allowed, providing additional flexibility for owners. The home has also been thoughtfully furnished for rental use through a local rental company, with furnishings available separately by bill of sale. Ouray water and sewer, natural gas, conventional power and high-speed internet add everyday convenience. Whether you envision waking here every morning, escaping to the mountains on weekends, spending summers

532 Oak St, Ouray

$545,000

3 Beds ⋅ 2 Baths ⋅ 838776 MLS

Lovely Townhome with Extensive Upgrades and Gorgeous Mountain Views! This beautifully upgraded townhome is in like-new condition and offers the perfect combination of comfort, style, and mountain living. The owner has completed numerous recent upgrades, including a large deck off the back of the home that takes full advantage of the incredible views of the mountains surrounding Ouray. The kitchen has been beautifully updated with granite countertops and new appliances. The primary bedroom has been remodeled and features a new bathroom and a spacious walk-in closet with a skylight. The roof was replaced just a couple of years ago, and solar was added at the same time. Natural gas was also brought to the property, and a lovely gas fireplace was added to the living area. Mini-split systems provide both air conditioning and additional heat. The primary bedroom and main living spaces are located on the upper level, which features two decks, including one covered deck. The lower level offers two bedrooms, one bathroom, laundry, and another covered deck, providing plenty of space for family and guests. This home is being offered fully furnished and is truly move-in ready. Whether you're looking for a convenient lock-and-leave property, a full-time residence, or a mountain getaway, this townhome is an excellent choice. The beautifully maintained grounds, peaceful setting, and spectacular mountain views create the perfect mountain retreat or place to call home. Don't miss the opportunity to make this exceptional Ouray townhome your own. Give us a call today to schedule your private showing!

103 5th Avenue Ct, Ouray

$400,000

838179 MLS

Prime investment opportunity in the stunning town of Ouray! Potential to build up to a (3) unit dwelling, or your dream single family vacation home. Low HOA fee’s, no building restrictions or requirements, no community rules, or any approvals from the association to build whatever you’d like. Only (5) homeowners in this small community. The Uncompahgre river and huge mountain views are stunning from the front of this property. Nothing can be built to block these views. Public river access is only about 30 steps away. Ideally located next the Uncompahgre River Walk trail system, you'll enjoy breathtaking views of the Ouray valley floor and convenient access to town. The West Gold Hill Dinosaur Trackway is located just above, and public land adjoins this property. All utilities are at the curb line. Don’t miss this chance to create a fantastic investment or living space—be sure to review the covenants for details!

1512 Oak St, Ouray

$1,247,000

4 Beds ⋅ 3 Baths ⋅ 838175 MLS

Perched above Ski Hill in the heart of Ouray, this exceptional mountain residence is an entertainer’s dream, thoughtfully designed to capture sweeping 360-degree views from an oversized, sun-filled lot. Multiple outdoor living spaces and expansive decks create the perfect setting for relaxing or hosting guests while surrounded by the dramatic San Juan peaks. From nearly every vantage point, you’ll enjoy commanding views overlooking the valley, along with iconic sights of the Amphitheater and the Twin Peaks rising above town. Inside, the home offers four spacious bedrooms and three bathrooms, providing plenty of room for family and visitors, while a private lower-level apartment adds flexibility for rental income or additional guest space. With abundant storage throughout and breathtaking mountain views framed by nearly every window, this is a truly one-of-a-kind Ouray retreat.

510 2nd Ave, Ouray

$799,000

5 Beds ⋅ 2 Baths ⋅ 837778 MLS

This home has been in the family for 70+ years after starting out as the Munn Brothers Assay Office in 1898, it sold to the current owners in 1953. After an addition in the 1960's it is currently set up as a 5 BR 2BA , with another room used as a bedroom which does not have a closet. The home also offers 1 formal dining area, two living areas, an eat in kitchen, a heated back porch area, a mud room in the front of the home. In addition there is a storage shed on a slab off the back patio and a storage area for lawn tools. The back yard also has an apple and plum tree. The front patio is smaller but has full view of the amphitheater and cleopatra. It's a short walk to everything in town as the home is centrally located to the Banks, Market, Post office, City Hall, County courthouse, Hardware store. Additionally the Hot springs pool as well as dining establishments and gift shops are an easy walk. You are also minutes from different places to jump on the perimeter trail and many favorite hikes are nearby including the river walk, twin peaks, dinosaur tracks, Chief Ouray trail etc.

546 2nd St, Ouray

$745,000

2 Beds ⋅ 3 Baths ⋅ 837422 MLS

This beautifully appointed 2-bedroom, 2½-bath townhome features expansive windows that frame breathtaking mountain views and fill the home with natural light. The open-concept design blends contemporary finishes with warm mountain charm. Enjoy the convenience of a one-car garage and a private backyard that borders National Forest, offering exceptional privacy and direct access to the outdoors. Just minutes from downtown Ouray’s shops, restaurants, hot springs, and endless recreation, this home is the perfect full-time residence, mountain getaway, or investment opportunity.

1642 Hinkson Ter, Ouray

$747,000

3 Beds ⋅ 2 Baths ⋅ 837289 MLS

Cozy Mountain Retreat with Exceptional Investment Potential....... Discover the perfect blend of comfort, convenience, and opportunity with this fully furnished, move-in ready 3-bedroom, 2-bath corner townhome in the heart of Ouray, Colorado. Ideally situated on the banks of the Uncompahgre River, this inviting mountain retreat offers a rare combination of location and flexibility. The thoughtfully designed floor plan features two bedrooms and a full bath on the ground level, while the private upper-level primary suite provides a peaceful retreat. The upper level also showcases an open-concept living room, dining area, and kitchen, creating a warm and welcoming space for gathering with family and friends. Additional highlights include an attached one-car garage, abundant natural light from its desirable corner location, and the added value of being sold fully furnished—ready for immediate enjoyment or rental income. Unlike many properties in Ouray, this townhome has no HOA fees and no restrictive covenants, making it an outstanding option as a primary residence, vacation getaway, or investment property. Enjoy the convenience of being within walking distance of the renowned Ouray Hot Springs Pool, the Uncompahgre River, and historic downtown Ouray, where you'll find charming shops, restaurants, parks, and year-round recreation. Whether you're seeking a personal mountain escape or a property with excellent income potential, this Ouray gem is ready to welcome you home.

1316 Main St, Ouray

$349,000

2 Beds ⋅ 1 Baths ⋅ 836418 MLS

Ground Floor Condo in Krisken Chalet Condos – Ouray, Colorado. This beautifully maintained and completely furnished (with a few exceptions) 2-bedroom, 1-bath condominium offers an exceptional opportunity for affordable mountain living in Ouray. Located on the ground floor with no stairs to climb, this 990 sq. ft. unit provides easy, single-level access and walks directly out to a gorgeous, expansive front common lawn area framed by towering pines and dramatic canyon walls. Inside, the home feels warm and inviting with Brazilian cherry laminate flooring. The thoughtful layout features two comfortable bedrooms, a living room, and a cozy kitchen. Outside, enjoy your own private patio in the back for relaxing or entertaining, plus the expansive shared lawn and BBQ/grilling area. The HOA professionally maintains all common areas, landscaping, and amenities across the beautifully landscaped 3+ acre property. Each unit includes a dedicated carport, additional outside parking, storage space, and plenty of guest parking. Perfectly situated at the north entrance to the City of Ouray, this “lock-and-leave” condo is just a 3-minute drive to the heart of town. It’s an ideal primary residence, vacation home, or income-producing rental property. Take full advantage of Ouray’s world-class hot springs pool, shops, restaurants, skiing, hiking, jeeping, and endless mountain adventures—all while enjoying low-maintenance living surrounded by stunning natural beauty. Welcome to comfortable, convenient Colorado mountain living at its most affordable!

2101 Main St Unit A-1, Ouray

$1,225,000

3 Beds ⋅ 3 Baths ⋅ 836023 MLS

Wonderful Ouray home with classic details. Although it looks like a vintage Victorian it was actually built in 1991 and it's as solid as it feels. Over 3,000 square feet with 3+ nice sized bedrooms and 3 beautifully detailed baths. Lots of storage throughout the home including in the large laundry room. Great views from decks on either side of the house. One deck faces the evening Alpenglow light show on the Amphitheater. The other deck spreads out from the living room. Enjoy your morning with the light show on Twin Peaks from this wonderful entertaining area. There is a plumbed area for another bath/shower by the laundry room. 2 furnaces keep the home comfy and provide redundancy. Custom molding throughout, hardwood flooring, granite counters, and beautiful built in cabinets are some of the highlights. A large 2 car garage with shop area and paved apron complete the package. Room to park your RV! This is your new home in Ouray!

320 4th St, Ouray

$474,900

2 Beds ⋅ 2 Baths ⋅ 835863 MLS

LOCATION! LOCATION! LOCATION! Sleep easy at night knowing the Ouray River Park Townhomes HOA includes insurance on the structure! Located directly next to the Uncompahgre River and also next to the Ouray Hot Springs Pool, it simply doesn't get much better than this end unit townhouse! Upon entering the heated entryway from the front door or large attached 1-car garage, the mudroom welcomes you with warm wood accents and an extra large bench to store your boots/shoes/coats/etc. A newer top-loading Whirlpool washer and a dryer are also located on the ground level. The second level of this townhouse has a half bath, large living/dining area, and the kitchen. The wood burning stove in the living room adds significant ambiance on those cold winter nights. The living room has a glass door that opens to a deck directly next to the Uncompahgre River with views south down to Abrams Mountain and also to the north. Soak in the sounds of the river while grilling your favorite meal as not many decks will have this combination of views/sounds. The living room/dining area has a large built-in bookshelf and a storage unit under the bench which adds to the storage space of this unit. The kitchen has upgraded newer stainless steel appliances including GE refrigerator, GE double oven, exhaust fan, and a GE dishwasher. A new 3/4 HP garbage disposal was recently installed. Both bathrooms have newer faucets, floors, and water-efficient toilets. The top floor of this unit consists of two large bedrooms and a full bathroom. Both bedrooms have vaulted ceilings and large windows for tons of natural light and great cross-breezes. The west bedroom is located above the river so you can listen to the soothing sounds as you fall asleep. A few other items that should be mentioned: The roof was replaced in 2023, new water heater in 2019, the chimney was swept 2 years ago, lightning fast fiber optic internet from Clearnetworx, and some modifications have been made to meet short term rental requirements (current owners have used it as their primary residence the entire time they've owned it). These units make excellent short term rentals! It will be up to the buyer to verify licensing/permit info/requirements if they are interested in using this unit as a short term rental. This complex has private access to the river walk. The Ouray Perimeter Trail is located directly across the street. It's also a very short walk to just about everything in Ouray including shops, galleries, dining establishments, town park, tour companies, vehicle rentals, and numerous other entities. If you enjoy golf, beautiful scenery, outdoor activities, and friendly people, your search is over. Recreational activities abound in the area. Ridgway State Park which has great boating, fishing, and camping is located about 20 minutes away. Telluride and its exceptional skiing is a short 55 minute drive. The mountains are well known for their stunning vistas which can be reached by 4WD or hiking for the more adventurous. There is also biking, rafting, camping, fishing, hunting, and a host of other activities. Ouray is still a small town with some of the friendliest people you will ever meet. Montrose is located only 40 minutes north which offers about anything you will ever need. They have one of the top rated regional hospitals in the country, regional airport, Home Depot, large grocery stores, Walmart, and numerous other national and local businesses.

1256 Champ Ln, Ouray

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