Real Estate Investing in Crested Butte, Colorado (81224)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 81224 (Crested Butte, CO)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 32.4% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 85.3 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Crested Butte, CO (81224)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 81224 Crested Butte
ZIP 81224 inside Gunnison County looks affordable on the surface — median value of $1.5M — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 81224 can be a a viable market for hunting ground — but the discount at $1.5M reflects genuine risk that outside investors often underestimate.
On the rental side, 81224 offers a low basis, the region around Crested Butte has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A sturdy renter share of 33% in 81224 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 81224 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Crested Butte:
Property Strategy for 81224
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $429,835 | $1,370 | 2.3% | +5.2% | $429,835 |
| 2BR | $728,439 | $1,590 | 1.6% | +7.2% | $364,220 |
| 3BR | $1,396,456 | $2,210 | 1.1% | +9.9% | $465,485 |
| 4BR | $2,399,027 | $2,670 | 0.8% | +10.3% | $599,757 |
| 5BR | $3,664,424 | — | — | +10.3% | $732,885 |
Market Trends
Home Value History (with trend line)
📊 How Does 81224 Compare?
| Metric | 81224 | Crested Butte | Colorado |
|---|---|---|---|
| Home Value | $1,464,133 | $1,464,133 | $535,778 |
| 5-Year CAGR | 6.2% | 6.2% | 4.9% |
| Avg Rent | $1,431 | $1,431 | - |
| Cap Rate | 0.8% | 0.8% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 81224 (Crested Butte, CO). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $1,464,133 |
| Monthly Rent | $1,431 |
| Price-to-Rent | 85.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 1.2% |
| Cap Rate | 0.8% |
| 5-Year IRR | 7.0% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +9.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (0.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 81224
Population: 3,439
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 81224
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
How strong are rents in Crested Butte, CO?
Crested Butte, CO rentals go for roughly $1,431/mo a month. That puts gross yield in solid territory relative to $1.5M acquisition costs.
Are homes affordable in Crested Butte, CO?
In Crested Butte, CO the median home value sits at $1.5M. Against the broader CO market, that reads as reasonable for most investors.
How do experienced investors play Crested Butte, CO?
In Crested Butte, CO the robust play is typically careful cash-flow rentals with hands-on management. The combination of $1.5M prices and $1,431/mo rents suits that approach.
How quickly do rentals get leased in Crested Butte, CO?
Crested Butte, CO vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Can I house hack in Crested Butte, CO?
For house hackers, Crested Butte, CO is a tougher. The $1,431/mo rent on a unit helps defray the mortgage on a $1.5M property.
You know 81224 now. You don’t know where it ranks.
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