Total monthly cost of ownership
Cost to Own a Home in Aspen, Colorado
A $1,375,000 home here costs
$9,645per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $413,500 a year.
A standard mortgage calculator would have told you $7,496. The real number is $2,149 higher every month, 29% more than the payment most buyers budget for.
Compare Pitkin County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Aspen against Pitkin County and Colorado
| Measure | Aspen | Pitkin County |
|---|---|---|
| Median home value | $1,375,000 | $1,131,200 |
| Median property tax | $5,052 | $4,450 |
| Effective tax rate | 0.367% | 0.393% |
| Median gross rent | $1,897 | $1,880 |
| Population | 6,862 | 17,119 |
The weather behind that power bill
Aspen sits in Pitkin County, which averages a high of 82.2°F in its hottest month and a low of 8.7°F in its coldest, with 14.92" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 90 cooling and 8,142 heating degree days, which is what sets the $116 electricity line above.
See the full climate breakdown for Pitkin County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pitkin County
Full Pitkin County cost breakdown · Every county in Colorado
Talk to someone who works this market
These are Aspen averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Aspen every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Aspen?
A $1,375,000 home in Aspen, Colorado costs approximately $9,645 per month with 20% down at 7.24%. That is $7,496 principal and interest, $421 property tax, $399 homeowners insurance, $184 utilities and $1,146 set aside for maintenance.
What is the property tax rate in Aspen?
Aspen has an effective property tax rate of 0.367%, based on a median home value of $1,375,000 and median real estate taxes of $5,052. That is lower than the Pitkin County average of 0.393%.
What is the average home price in Aspen?
The median owner-occupied home value in Aspen, Colorado is $1,375,000, against $1,131,200 across Pitkin County.
Is it cheaper to rent or buy in Aspen?
Median gross rent in Aspen is $1,897 a month, against $9,645 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Aspen?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Aspen, Colorado at today's rate takes a household income of roughly $413,500 a year. That covers the full $9,645 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Aspen, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Colorado.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.