What Is the Cost of Living in Aspen vs Denver? | Avant Garde Aspen Luxury Real Estate
If you’re comparing Aspen vs Denver for your next move, you’re not alone — many people dream of trading the city for the mountains but want to know how their budget will stretch first.
So, what’s the real cost of living difference between Aspen and Denver? Let’s break it down:
Housing is the biggest difference.
Aspen: The median home price often ranges from $8 million to $12+ million for a single-family home in prime neighborhoods like Red Mountain, West End, or East Aspen. Condos and townhomes downtown often start around $2–3 million and up, though you can find smaller units around $1.5M. That said, there are more affordable options in the mid-valley that aren't as much of a sticker shock coming from Denver. Most single family homes in the mid-valley are over $1M, however. There are also affordable housing options for those who qualify through programs like APCHA.
Denver: The median home price in Denver is currently around $650,000–$800,000, depending on the neighborhood. Luxury neighborhoods like Cherry Creek or Wash Park might hit $1–$2 million+, but they’re still a small fraction of Aspen prices.
Aspen: Renting is possible but competitive and expensive. Long-term rental rates for condos and apartments can range from $3,500–$10,000+ per month depending on size and proximity to the slopes or downtown core. Seasonal and short-term rentals can cost even more. Renting in the mid-valley can be more affordable, but even a 1 BR in Glenwood Springs, almost an hour away, can cost $2,000 or more.
Denver: A similar 2-bedroom apartment in a desirable Denver neighborhood averages $2,200–$3,500/month. Rents in Denver have deflated in the last year or so, rents in the Roaring Fork Valley have increased and rent hike are common.
Mountain living adds a premium to groceries because many goods are shipped up to remote mountain towns. Expect groceries to cost 10–20% more than Denver. Dining out ranges widely — Aspen has ultra-luxury restaurants and local favorites for casual bites, but splurging on fine dining adds up. There aren't as many options that are affordable eats when compared to Denver. For more dining options, the mid-valley can also provide some decent and more affordable restaurants. There are also some times of year when locals specials happen and discounts can occur.
Aspen locals love the town’s walkability and the free local RFTA bus system. Many residents don’t need a car in town but may have one for mountain trips or grocery runs. Sometimes e-bikes or small vespas / motorcycles are easier for getting around town. Many people who live in the lower to mid valley chose to still be reliant on cars, despite the amazing public transport options, which can add to their transportation costs overall. In Denver, a car is a must for most families to leave their homes or get anywhere. Denverites also pay much more in parking fees in the city than most people do in the mountain towns.
Denver has a broader job market and bigger corporate employers, while Aspen’s economy revolves around tourism, hospitality, luxury real estate, and remote work. Many residents have flexible work or second homes here while keeping a city-based income. It's usually easier long term to be an entrepreneur in the Roaring Fork Valley and to start a business, than to have a full time job (unless its highly specialized) depending on the role, as some jobs in the valley might pay about the same as Denver but with a much higher cost of living. There are also less openings available, so if you're thinking about moving, you may want to scan job boards daily for a while until the right position comes up. That said, there is a lot of turnover in Aspen since it can be such a transient community, so jobs do come available.
There’s no sugar-coating it: Aspen’s cost of living is among the highest in the country. But for many, the perks — the fresh mountain air, walkable town, top-notch dining, lively arts, and endless outdoor fun — make the premium worthwhile.
Want to know what your budget can get you in Aspen vs Denver, coming from someone who made the same move themselves? I’d love to show you on- and off-market options to help you plan your next move.
Contact the real estate team at Avant Garde Aspen to sell your property, buy luxury ski property, and browse resort homes for sale in Aspen, Basalt, Carbondale, and the rest of the Roaring Fork Valley.