Crested Butte is a mountain community in the southwest region of Colorado. This incredible
area, which has a claim to be America’s Coolest Small Town, offers great investment
opportunities. If you’re thinking of owning a piece of real estate in Crested Butte, here’s what
you need to know.
It is customary to say that the year is just starting, but in Crested Butte, it is really the middle of the year!
With so much buzz and excitement in the air, it is the perfect time to invest in real estate in Crested Butte.
The following are some reasons why now is the time to buy in Crested Butte:
Why you should invest in Crested Butte
Like many other ski towns and resort communities in Colorado, the Crested Butte real estate
market has been hot since the beginning of 2020. The demand for open spaces, easier access
to the outdoors, and record-low interest rates fueled a real estate boom. Prices shot up and
many found it difficult to land homes in the area.
However, the market not only in Crested Butte but around the country has stabilized and it is
now easier to invest for those who were priced out of the market during the frenzied buying of
the early 2020s.
Despite the relatively high cost of living, Crested Butte is still seeing an increase in population.
The number of people living in Crested Butte now sits at 1,684 residents, a 2.75% increase
from 2020.
If you plan on renting out your Crested Butte property, you’ll find that there are more long-term
tenants instead of short-term ones. Long-term tenants provide more stability, they are more
predictable, and there is less tenant turnover. According to The Crested Butte News, long-term
rentals have remained consistent, resting at a 32% occupancy rate since 2018.
Additional factors to consider
The real estate landscape isn’t the only aspect to look at when deciding to invest in a Crested
Butte property. Here are other reasons why Crested Butte would be a great investment.
● Lifestyle
Crested Butte offers an amazing outdoor lifestyle surrounded by forests, grassy lands,
wildflowers, and the Elk Mountains. In Crested Butte, there’s an outdoor activity for
every season. Skiing, biking, and horseback riding are the top recreational activities
here. Crested Butte also has a vibrant local art scene and offers great culinary
experiences.
● Cost of living
Due to its strong economy, low housing supply, and high tax rates, the cost of living in
Crested Butte comes at a premium. According to Salary.com, living in this Colorado ski
town is 13.1% higher than the national average. This can be mainly attributed to the
rise in home prices, followed by food and transportation.
● Job Opportunities
Since the town is a well-known ski destination, it’s no surprise that tourism is the
largest industry in Crested Butte. The most popular ski resorts here are the Crested
Butte Nordic, the Crested Butte Ski Resort, and the Crested Butte Mountain Resort.
Apart from tourism, the other main industries here are education and public lands.
Many small businesses have opened up shop in Crested Butte and continue to thrive.
Crested Butte is quickly becoming a favorite for remote workers as well. In the nearby
town of Gunnison, remote workers can access its co-working center, the ICELab at
● Transportation
Crested Butte has several transportation options to get in, out, and around the area.
The Mountain Express Bus Shuttle is a free transportation service that brings
passengers from the town to Mount Crested Butte and vice versa. The Gunnison Valley
RTA is another shuttle service to Gunnison and Mount Crested Butte. For private rides,
group transfers, and airport drop-offs, Alpine Express is the go-to transport service.
2023 is shaping up to be a good year for Crested Butte and if you’re looking for a mountain
resort location to invest in, this community in the Rocky Mountains of Colorado should be high
on your list.
