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Aspen real estate market overview
- Average Monthly Rent: $8,750
- Home Price/Value Percentage Change: 3.40%
- Median Home Value: $2,927,050
- Best Time To Sell a Home: August
- Affordability Index: Low
- Days To Sell a House: 90
- Job Market: Fair
- Public School Ranking: 24
Location and weather
Aspen is a scenic Colorado city, known for its winter skiing and upscale residents. In west-central Colorado, Aspen is on the Roaring Fork River at the eastern edge of the White River National Forest. Peaks of the Rocky Mountains also reside nearby, including Capitol, Creek, Snowmass, and Maroon peak. Summers are busy in Aspen, as it is known to host a degree of cultural activities, such as The Aspen Music Festival.
Aspen is known for its snowy winters and dry, mild summers. Summer temperatures are in the 60's, with lows in the 40's. Winter temperatures are in the 30's, with lows in the single digits.
Population, job market and cost of living
The population of Aspen at the beginning of 2023 is 7,109, with a decrease rate of -0,49%.
The job market has decreased by -6.57% and in future years, is predicted to have increased by 35.23%. The largest industries are in accommodation and food services, retail trade, and real estate, including renting and leasing. Considering Aspen is a tourist destination, it's no surprise that the largest employers include Aspen Snowmass, St. Regis Aspen Resort, Aspen Valley Hospital, The Little Nell and Aspen School District.
The cost of living is very high, due to the Aspen real estate market and limited housing.
Aspen real estate market details
- Downtown Aspen
- Centennial
- The West End
- Red Mountain
The average monthly rent in Aspen is $8,750 for an average apartment size of 836 sq. feet.
There has been a 3.4% increase in median home value over the last year. As of 2023, the median home value is $2,927,050.
On average, homes in Aspen sell after 97 days on the market.
The best time to sell a home for the highest valued sale is during August. For the quickest sale, homeowners should sell in July.
The affordability index in Aspen is 306. This number indicates low affordability in this city.
The top ranked public schools are Aspen High School, Aspen Elementary School and Aspen Middle School. This information is based on data measuring academic performance and equity.