The story of this market
The typical home in ZIP 81224 sells for about $944,250, or $650 per square foot.
Prices are up +2.5% from a year ago, so sellers still have some momentum. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $2,800 a month.
ZIP 81224 — Crested Butte
The 81224 housing market remains robust with high median home values driven by limited inventory and strong demand for mountain lifestyle properties. While sales volume is modest, prices have shown steady year-over-year growth. The market is currently characterized by a high share of second-home ownership and significant seasonal vacancy.
This ZIP is ideal for affluent outdoor enthusiasts, remote workers, and second-home buyers seeking a high-amenity mountain lifestyle.
Median prices moved up 2.5% year over year.
Homes spend a median of 42 days on market with 13.0 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 97% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.8% · poverty 6.5% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 81224, Gunnison County CO
Crime rates in Crested Butte are generally low, with property and violent crime incidents occurring at rates significantly below national averages.
The area is served by the Gunnison Watershed School District, which maintains a strong reputation for academic performance and small class sizes.
The region faces significant wildfire risks due to its mountainous terrain and forest density, leading to high demand for comprehensive property insurance.
Economic momentum is driven primarily by tourism, outdoor recreation, and a growing remote-work population, with limited new large-scale commercial development.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Colorado) — Statutory Agricultural Land Reclassification and Improvement Valuation: Under C.R.S. § 39-1-102(1.6)(a)(I), up to two acres of land directly underlying a residential improvement on agricultural parcels are segregated and assessed at residential rates (6.80% / 7. State (Colorado) — Senior and Disabled Veteran Property Tax Homestead Exemption: Exempts 50% of the first $200,000 of actual market value of the qualifying primary residential parcel from property taxation (a maximum actual value deduction of $100,000). State (Colorado) — Colorado Split Residential Property Tax Assessment Rate Structure: Imposes annual ad valorem property taxes determined using a bifurcated assessment rate system. Assessed Value = Actual (Market) Value × Assessment Rate. Beginning for tax years 2025/2026, residential property is assessed at 6.
Commuting is primarily local within the Crested Butte valley; regional travel to Gunnison requires a drive of approximately 30-40 minutes.
The area is a premier destination for skiing, mountain biking, and hiking, featuring extensive trail networks and proximity to the Crested Butte Mountain Resort.
The rental market is characterized by high demand and low vacancy rates, heavily influenced by seasonal tourism and a limited supply of long-term housing.
The economy is heavily reliant on the tourism and hospitality sectors, supported by the resort and local service industries.
Public transit is provided by the Mountain Express, offering free shuttle services throughout the town and to the mountain base.
Development is constrained by geographic boundaries and strict local planning ordinances, focusing on infill and resort-adjacent projects.
The Gunnison County Assessor manages property valuations, with biennial reappraisals based on market sales data.
Parcels are subject to various special districts, including the Crested Butte Fire Protection District and local water/sanitation districts.
Property insurance premiums are elevated due to high wildfire risk and the high replacement cost of luxury mountain homes.
Data retrieved from US Census Bureau and Data Commons.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.
World-class skiing and summer mountain biking destination.
Central community space for local events and recreation.
Popular hiking and biking trail accessible from town.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.