Aspen, ski resort in Colorado, USA: make a choice between dream and reality

The name Aspen evolves from the abundance of aspen trees in the area. Today Aspen is a wealthy ski area, about in the middle of the us, in Colorado. Its history tells us that it has recuperated from the collapse of silver mining in 1893 when the neighbouring Aspen Mountain was developed into a ski resort.

Real Estate

It started with a certain Walter Paepcke, an industrialist who bought many properties in the city in the 1950s and redeveloped them. Today it is home to three institutions, two of which Paepcke helped found, having international importance: the

Aspen Music Festival and School,
the Aspen Institute,
the Aspen Center for Physics.

In the 20th century Aspen was home to celebrities as the singer John Denver and Gonzo journalist Hunter S. Thompson, well known amonth youthful people of the seventies.

Today Aspen is popular as a year-round destination for locals, second-home buyers and tourists. In summertime White River National Forest serves as a counterpart to the city’s four ski areas.

Aspen

Aspen, Colorado. Aspen skyline from up high during winter

Aspen, Colorado. Aspen skyline from up high during winter

Aspen Cityscape

Aspen Cityscape

Aspen Victorian House

Aspen Victorian House

Maroon lake

Aspen Maroon lake beautiful reflexion

Aspen White Horse

Aspen White Horse

Aspen Holiday Village

Aspen Holiday Village

Aspen Holiday Home

Book your Aspen Holiday Home now

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Villas on Aspen (Zakynthos)

Prime residential real estate in Aspen is the most expensive of any ski resort in the world on a per-square-foot basis, according to a study of 44 global ski resorts (comparison table). Aspen is the world’s second-highest-rated (What is the highest rated???) ski resort in terms of “the quality and reliability of their conditions and their capacity to withstand climate change.” A 2023 study by Savills, a global real estate broker, declared that prime Aspen real estate was the most expensive on a per-square-foot-basis of the 44 global ski resort markets it studied.

Top 20 of the 44 ski-resorts out of a 2023 study

Why is the people’s income so high? What is so special about the real estate? Why is it so expensive? Aspen isn’t just a ski resort—it’s an ecosystem of luxury, exclusivity, and natural beauty. Here are three clear answers to these questions about high income in Aspen and its expensive real estate:

💰 Why is income in Aspen so high?

Aspen has a striking dual economy:
– ​​The top 5% earn >$1.3 million per year, often through investments, real estate, or international companies.
– 25–44 year-olds have the highest median income: approximately $120,000.
– Many high-net-worth individuals live there: entrepreneurs, celebrities, hedge fund managers, and second-home owners.
– At the same time, a large portion of the local population works in tourism, hospitality, and service industries, often earning lower incomes. That’s why there are also social housing programs like the Employee Housing Program.

🏠 What makes Aspen’s real estate so special?

Aspen’s real estate is a mix of heritage, design, and prestige:
– Architectural contrast: Victorian houses next to ultra-modern eco-villas.
– Limited building land: surrounded by protected nature, so little space for new projects.
– Strict building regulations: to preserve character and sustainability.
– International buyers: from London to Dubai, which is globalizing and driving the market.
– Lifestyle investment: you’re not just buying a house, but access to Aspen’s culture, festivals, ski events, and exclusive networks.

💸 Why is it so expensive?

According to Savills, Aspen is the most expensive ski resort in the world per square meter:
– Average price per square meter: €36,200 (2023), far above Val d’Isère or Verbier.
– Moratorium on new construction and renovation: limited supply, increasing demand.
– Seasonal rentals: homes fetch up to $5,000 per night in peak season.
– Exclusive amenities: private ski-in/ski-out access, wellness, art galleries, fine dining.
– Climate resilience: Aspen scores highly for reliable snow conditions and sustainability.

Housing

Aspen’s single-family home prices are among the highest in the country. Real estate supply is limited due to a moratorium on new construction, renovations, and short-term rentals. The median sales price of a single-family home in Aspen was $9.5 million in 2021.

Relatively more affordable housing can be found outside the city limits, in nearby Snowmass Village. However, in 2021, the median price of a single-family home there was still $5.2 million. The same applies to the city’s apartment complexes, many of which date back to the 1960s and 1970s.

Housing affordability is a major problem for workers in the Aspen area itself. However, housing is available for those whose incomes fall below certain thresholds, particularly in the Roaring Fork Valley. They can apply for certain properties that still cost nearly $1 million.

Income

“The median income for a household in the city was $53,750, and the median income for a family was $70,300. Males had a median income of $41,011 versus $32,023 for females. The per capita income for the city was $40,680. About 3.6 percent of families and 8.2 percent of the population were below the poverty line, including 4.4 percent of those under age 18 and 2.6 percent of those age 65 or over.”

Are the prices of ski holidays proportional to the value of real estate?

Holidays in Aspen are considerably higher than the typical price of, for example, €500 per week. You can expect to pay anywhere from more than four times as much to fourteen times as much. So, from €2200 to €7000 per week. However, nobody will force you to go on ski holidays in Aspen. The majority who can’t afford it or at least doesn’t want to pay for it can make their choice from a mass of alternatives

Some alternatives

A lot of countries in the world have the possibility to organize ski holidays. In the first place because of weather and geographic conditions. The alternatives are limited to European and some North African countries and Russia.