The typical owner-occupied home in Basalt is worth about $1,180,300, 2.2 times the Colorado median of $539,400 and 3.5 times the national median of $332,700. Owners pay a median $5,877 a year in property taxes, about 0.50% of their home's value, close to the Colorado rate of 0.48%. The median household earns $105,855 a year, so the median home costs 11.2 times the median income (5.6 times for Colorado). 59% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
Basalt at a glance
| Basalt | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $1,180,300 | $539,400 | $332,700 |
| Median property tax paid per year | $5,877 | $2,602 | $3,119 |
| Property tax as a share of value | 0.50% | 0.48% | 0.94% |
| Median household income | $105,855 | $95,470 | $80,734 |
| Homes lived in by their owners | 59% | 66% | 65% |
| Owner homes with a mortgage | 62% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $3,281 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 35.6% | 22.1% | 21.0% |
| Median rent | $2,257 | $1,761 | $1,413 |
| Rent as a share of renters' income | 24.8% | 31.4% | 30.6% |
| Median year homes were built | 1995 | 1988 | 1980 |
| Vacant homes | 10.0% | 8.3% | 10.1% |
| Population | 4,335 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Basalt
At this week's average 30-year rate of 7.11%, buying the median Basalt home of $1,180,300 with 20% down costs about $7,336 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $9,492, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $314,380 for the 20%-down payment. That payment is 83% of the median Basalt household income of $105,855; at that income and 20% down, the 28% guideline points to a home of about $397,000.
The median rent here is $2,257 a month, so owning the median home costs about $5,079 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $236,060 |
|---|---|
| Loan amount | $944,240 |
| Principal and interest | $6,352 |
| Property taxes (0.50% a year) | $492 |
| Homeowners insurance (our estimate, 0.5% a year) | $492 |
| PMI | $0 |
| Total per month | $7,336 |
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| Down payment | $41,310 |
|---|---|
| Loan amount | $1,158,922 |
| Principal and interest | $7,796 |
| Property taxes (0.50% a year) | $492 |
| Homeowners insurance (our estimate, 0.5% a year) | $492 |
| FHA mortgage insurance | $712 |
| Total per month | $9,492 |
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Questions about home buying in Basalt
What is the median home value in Basalt?
About $1,180,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Basalt?
Homeowners pay a median $5,877 a year, which is about 0.50% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Basalt?
For the median home with 20% down at 7.11%, the payment is about $7,336 a month. Keeping that under 28% of gross income takes about $314,380 a year.
More about Basalt
- Mortgage Refinance in Basalt
- Debt Relief in Basalt
- Home Equity Loans in Basalt
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data