Total monthly cost of ownership
Cost to Own a Home in Crested Butte, Colorado
A $928,000 home here costs
$6,552per 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 $281,000 a year.
A standard mortgage calculator would have told you $5,059. The real number is $1,492 higher every month, 29% more than the payment most buyers budget for.
Compare Gunnison County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Crested Butte from a five-year rolling sample, and with about 1,436 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Gunnison County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Crested Butte against Gunnison County and Colorado
| Measure | Crested Butte | Gunnison County |
|---|---|---|
| Median home value | $928,100 | $597,200 |
| Median property tax | $3,192 | $1,683 |
| Effective tax rate | 0.344% | 0.282% |
| Median gross rent | $1,437 | $1,191 |
| Population | 1,436 | 17,158 |
The weather behind that power bill
Crested Butte sits in Gunnison County, which averages a high of 79.9°F in its hottest month and a low of -6.4°F in its coldest, with 10.6" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 16 cooling and 9,935 heating degree days, which is what sets the $116 electricity line above.
See the full climate breakdown for Gunnison County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Gunnison County
Full Gunnison County cost breakdown · Every county in Colorado
Talk to someone who works this market
These are Crested Butte 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 Crested Butte every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Crested Butte I already own here and may sell
Common questions
How much does it cost to own a home in Crested Butte?
A $928,000 home in Crested Butte, Colorado costs approximately $6,552 per month with 20% down at 7.24%. That is $5,059 principal and interest, $266 property tax, $269 homeowners insurance, $184 utilities and $773 set aside for maintenance.
What is the property tax rate in Crested Butte?
Crested Butte has an effective property tax rate of 0.344%, based on a median home value of $928,100 and median real estate taxes of $3,192. That is higher than the Gunnison County average of 0.282%.
What is the average home price in Crested Butte?
The median owner-occupied home value in Crested Butte, Colorado is $928,100, against $597,200 across Gunnison County.
Is it cheaper to rent or buy in Crested Butte?
Median gross rent in Crested Butte is $1,437 a month, against $6,552 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 Crested Butte?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Crested Butte, Colorado at today's rate takes a household income of roughly $281,000 a year. That covers the full $6,552 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Crested Butte, 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.