Cost of Living in Chaffee County, Colorado
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Chaffee County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Chaffee County ranks #959 of 3,144 counties for affordability (top 31%)
Data Story
About Cost of Living in Chaffee County, Colorado
Chaffee rents outpace national affordability
Chaffee County's rent-to-income ratio of 25.6% exceeds the national average, meaning renters here dedicate roughly one-quarter of their income to housing. This compares unfavorably to the typical American renter, who spends a smaller share of earnings on monthly rent.
Above Colorado's housing cost average
At 25.6%, Chaffee's rent-to-income ratio ranks above Colorado's state average of 20.2%, placing it among the state's less affordable counties. The median rent of $1,514 is also $261 higher than Colorado's median, intensifying affordability pressure.
Pricier than nearby mountain counties
Chaffee's $1,514 median rent significantly exceeds neighboring Clear Creek County's $1,230 and Custer County's $1,021. Despite similar mountain-town amenities, Chaffee renters pay 48% more than Custer County residents for comparable housing.
Housing claims one-quarter of income
Chaffee renters spend 25.6% of the county's $70,909 median household income on rent, while homeowners dedicate 17.6% to mortgage payments. Together, housing absorbs nearly half of household budgets before taxes, utilities, and other essentials.
Considering a move to Chaffee?
If you're relocating to this mountain community, budget for rent above state average—but know that homeownership at $598,500 median value remains achievable for higher earners. Compare Chaffee's lifestyle benefits against more affordable neighboring counties like Custer before deciding.
Cost of Living Advisory: Chaffee County
Affordability Verdict
Housing in Chaffee County is moderately affordable. The median rent is $1,514/month against a median household income of $70,909, putting rent at 25.6% of income.
Rent vs. Own
At $1,514/month rent versus $1,044/month in owner costs, owning is roughly $470/month cheaper — a 31% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $60,560/year. For owner costs at the 28% rule, the required income is roughly $44,743/year. With a median household income of $70,909, most households can comfortably afford rent here. Notably, 30.0% of renter households in Chaffee County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Chaffee County sits 4% more expensive than Grand County ($1,451/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Chaffee County
Rent Burden
25.6%
of gross income
Max Housing (28% Rule)
$1,655
per month
Owner Cost Burden
17.7%
of gross income
The median home in Chaffee County may be a stretch
Median home value is $598,500. Estimated monthly cost: $4,778 vs. your max of $1,655.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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