Total monthly cost of ownership
Cost to Own a Home in Aspen, Colorado
A $1,375,000 home here costs
$9,247per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $7,069. The real number is $2,178 higher every month — 31% more than the payment most buyers budget for.
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 $145 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
Common questions
How much does it cost to own a home in Aspen?
A $1,375,000 home in Aspen, Colorado costs approximately $9,247 per month with 20% down at 6.66%. That is $7,069 principal and interest, $421 property tax, $399 homeowners insurance, $213 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 $9,247 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
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.