Breckenridge = Third Most Expensive Small Town In America

Breckenridge = Third Most Expensive Small Town In America

Real Estate

Breckenridge = Third Most Expensive Small Town In America

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“Vineyard Haven, Mass., Summit Park, Utah, and Breckenridge, Colo., are the three most expensive towns in the country. Each of these towns is known for its proximity to natural features like mountain ranges or the ocean. While high levels of wealth tend to pool in these towns, the majority from these areas make an income well under the national household average.”

In a recent study published by Lendingtree.com, Breckenridge was designated as the third most expensive town for housing in America. It notes that both renting and owning a home are out of reach for median-income earners in a majority of the towns ranked. Steamboat and Jackson, WY also make the top 10. Researchers say the median home value in Breck is nearly $548,000:

“Typically, people who live in more rural areas make less money than their urban counterparts, but they are also more likely to have a lower cost of living than those in urban areas. As a result, many towns are affordable, and, in some cases, they may be more affordable and have lower rates of poverty than cities.

But, as our data shows, there are many towns where home prices are as expensive, if not more expensive, than home prices in the country’s largest cities. Unfortunately, while home prices in these towns are as high as they would be in a big city, incomes are not.”

No. 3: Breckenridge, Colo.

  • Total population: 31,004

  • Median individual income: $31,611

  • Median home value: $547,700

  • Affordable housing costs for a median income earner: $738

  • Calculated mortgage payment for a median priced home: $2,246

  • Median rent payment: $1,343

  • Home affordability deficit: -$1,509

  • Rent affordability deficit: -$605

Top 10 most expensive towns according to the survey:

  1. Vineyard Haven, MA

  2. Summit Park, UT

  3. Breckenridge, CO

  4. Jackson, WY

  5. Steamboat Springs, CO

  6. Herber, UT

  7. Juneau, AK

  8. Hood River, OR

  9. Hailey, ID

  10. Easton, MD

images from townofbreckgov IG

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