Cost of Living in Aspen, CO
Population 6,862 · Colorado · Data vintage 2023
(100 = US avg)
Aspen's housing market is in a category of its own — median home values around $1.4 million sit roughly 5 times the US figure, reflecting a market driven as much by second-home and resort buyers as by year-round residents. The labor market has been unusually tight, with unemployment around 2.5% — below most comparable cities in the state.
Aspen lies roughly 100 miles west of the nearest major metro, Lakewood — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 151% higher than Lakewood's $548,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Aspen
The median home value in Aspen is $1,375,000 — 351% above the national median of $305,000. Median rent runs $1,897/month, 44% higher than the national median of $1,314/month. The median household income of $78,636/year is 5% higher than the US median of $74,580. The local unemployment rate is 2.5%, below the national average of 4.8%. Colorado's top state income tax rate is 4.4% and the combined sales tax is 7.8%. The climate averages highs of 57.4°F and lows of 28.3°F. Overall, Aspen has a cost of living index of 328 versus the US average of 100, meaning it is 228% more expensive.
Aspen has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 35 | 38 | 46 | 55 | 65 | 77 | 82 | 80 | 72 | 60 | 45 | 34 |
| Low °F | 9 | 12 | 21 | 28 | 35 | 42 | 48 | 47 | 40 | 29 | 19 | 9 |
| Precip" | 1.05 | 0.90 | 1.03 | 1.80 | 1.52 | 0.88 | 1.64 | 1.48 | 1.43 | 1.33 | 1.04 | 0.82 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Aspen, CO?
Aspen has a cost index of 328 (100 = national average). It is 228% above the national average.
What is average rent in Aspen, CO?
The median gross rent in Aspen is $1,897 per month based on 2023 Census data.
What is the average home price in Aspen?
The median home value in Aspen is $1,375,000 according to Zillow and Census data.
What is the median income in Aspen?
The median household income in Aspen is $78,636 per year (2023 ACS 5-year estimates).
What is the sales tax in Aspen, CO?
The combined state and local sales tax rate in Aspen is 7.8%. The Colorado state income tax top rate is 4.4%.
Is Aspen, CO affordable?
Aspen is above average in cost of living, with an index of 328 — about 228% higher than the national average.
What is the weather like in Aspen?
Aspen has average high temperatures of 57.4°F and average lows of 28.3°F. Annual precipitation is 14.9". Data from NOAA 1991–2020 Climate Normals.
Aspen at a Glance
- Population
- 6,862
- Median Income
- $78,636
- Home Value
- $1,375,000
- Median Rent
- $1,897/mo
- Unemployment
- 2.5%
- Avg High Temp
- 57.4°F
- Sales Tax
- 7.8%
Nearby Cities
Explore county-level cost of living data
Colorado Rankings
Similar Cost Cities
Cities in other states with comparable housing costs