Cost of Living in Basalt, CO

With a cost of living index of 196, Basalt, CO is one of the most expensive cities in the United States. Living here is 96% more expensive than the national average and 82% above the Colorado state average of 114. Basalt is a small community of 3,995 residents.

Housing costs are the biggest factor in Basalt's cost of living. The median monthly rent is $2,188 (66% above the US median of $1,319), and the median home value sits at $1,148,100 (277% above the national median of $304,900). At current prices, the median home costs roughly 10.8x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Basalt is $106,000, which is 41% higher than the national median of $75,149. Residents spend roughly 25% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they do not fully offset the higher cost of living.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.