CALCMONEY // HOME AFFORDABILITY // CO // ASPEN
How much house can you afford in Aspen? Based on local median home prices, current CO mortgage rates, and Aspen property tax data.
$5,200,000
$30,942/mo
$1,326,091/yr
$0
Monthly housing costs of $30,942 represent 390.8% of Aspen's median gross monthly income ($7,917/mo). At 390.8%, median-income buyers in Aspen are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $5,200,000 |
| Down Payment (20%) | $1,040,000 |
| Loan Amount | $4,160,000 |
| Monthly PI Payment | $27,259 |
| Monthly Property Tax | $1,517 |
| Monthly Insurance Est. | $2,167 |
| Total Monthly PITI | $30,942 |
| Housing Cost % of Income | 390.8% |
| Required Income (28% rule) | $1,326,091/yr |
| Max Affordable Home | $0 |
$182,000
$40,119/mo
Aspen Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $5,200,000 | Aspen city median |
| Down Payment (20%) | $1,040,000 | Conventional loan |
| Monthly PITI | $30,942 | 6.85% rate, 30yr fixed |
| Required Income (28% rule) | $1,326,091 | Annual gross |
| Max Affordable Home | $0 | Based on median income |
| FHA Down (3.5%) | $182,000 | Minimum FHA |
| Housing Cost % of Income | 390.8% | Median income: $95,000/yr |
| Property Tax Rate | 0.35% | $18,200/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Aspen is $5,200,000, with a local 30-year mortgage rate of 6.85%. A buyer putting 20% down carries a loan of $4,160,000, generating a monthly P&I payment of $27,259. Adding property taxes ($1,517/mo) and homeowners insurance ($2,167/mo) brings total monthly PITI to $30,942.
Aspen's property tax rate of 0.35% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Aspen median home, that is $1,517/month, or $18,200 per year.
Colorado levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Aspen should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Aspen's median income of $95,000/year can afford up to $2,217/month in total housing costs. Based on Aspen's mortgage rate of 6.85% and property tax rate of 0.35%, that translates to a maximum affordable home price of approximately $0 with 20% down on a 30-year loan.
To afford the median Aspen home priced at $5,200,000, you need an annual gross income of approximately $1,326,091. Total monthly housing costs (principal and interest of $27,259, property taxes of $1,517, and insurance of $2,167) come to $30,942/month, which equals 28% of the required income.
At the median home price of $5,200,000 and median household income of $95,000, the total monthly housing cost of $30,942 represents 390.8% of gross monthly income. This is well above the standard 28% threshold, making Aspen a challenging market for buyers at median income.
A conventional 20% down payment on the median Aspen home of $5,200,000 is $1,040,000. An FHA loan requires just 3.5% down — $182,000 — but adds mortgage insurance of roughly $3,554/month, bringing total FHA payments to $40,119/month.
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