Cost of Living in Basalt, ID

With a cost of living index of 88, Basalt, ID is a very affordable place to live. Living here is 12% cheaper than the national average and in line with the Idaho state average. Basalt is a small community of 511 residents.

Housing costs are the biggest factor in Basalt's cost of living. The median monthly rent is $1,025 (22% below the US median of $1,319), and the median home value sits at $300,000 (2% below the national median of $304,900). At current prices, the median home costs roughly 4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Basalt is $75,375, which is 0% higher than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.