Cost of Living in Gunnison County, Colorado

$1,191/mo

Median Monthly Rent

$597,200

Median Home Value

5% below state averageUnaffordableACS 2019-2023 · Updated Dec 2024 Compare this county Explore on Map

At a Glance

Median Monthly Rent

$1,191/mo

5% below state average

Median Home Value

$597,200

112% above national

Rent-to-Income Ratio

31.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Gunnison County Compares

Median monthly rent comparison

Gunnison County$1,191/mo

Colorado Average$1,253/mo

National Median$1,163/mo

Detailed Housing Stats

$1,191/mo

Median Gross Rent

$597,200

Median Home Value

$1,471/mo

Monthly Owner Cost

31.0%

Rent-to-Income Ratio

National Ranking

Affordability Rank

Gunnison County ranks #758 of 3,144 counties for affordability (top 24%)

Most AffordableLeast Affordable

Data Story

About Cost of Living in Gunnison County, Colorado

Gunnison combines low rent, solid income

Gunnison County renters spend just 18.5% of income on rent, beating the national affordability standard. Though median income ($77,358) is only modestly above the national median ($74,755), lower-than-average rents make housing comfortable for residents.

Colorado's rental bargain

Gunnison's rent-to-income ratio of 18.5% ranks among Colorado's best, sitting below the state average of 20.2%. The county's median rent of $1,191 is also the lowest among nearby mountain counties.

Gunnison offers lowest rents

Gunnison's median rent of $1,191 undercuts both Grand County ($1,451) and Gilpin County ($1,340), making it a bargain for renters. However, median home values ($597,200) are the highest of the three, offsetting rental savings for would-be buyers.

Renters win; homeowners pay more

Gunnison renters spend $1,191 monthly—18.5% of $77,358 annual income—a favorable ratio. Homeowners, however, face $1,471 monthly costs (22.8% of income), making ownership more expensive than in neighboring counties.

Gunnison for renters and students

Gunnison's low rental costs make it ideal for renters or those working near university employment. If you're buying, compare its higher home values against neighboring counties to ensure the move makes economic sense.

Cost of Living Advisory: Gunnison County

Affordability Verdict

For renters in Gunnison County, the market is affordable. Expect to pay around $1,191/month in gross rent, with 31.0% of renter households considered cost-burdened.

Rent vs. Own

At $1,191/month rent versus $1,471/month in owner costs, renting is roughly $280/month cheaper — a 19% difference.

Income Needed

To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $47,640/year. For owner costs at the 28% rule, the required income is roughly $63,043/year. With a median household income of $77,358, most households can comfortably afford rent here. Notably, 31.0% of renter households in Gunnison County are cost-burdened, spending more than 30% of income on housing.

Regional Context

Within Colorado, Gunnison County is more affordable than Montrose County by roughly 6% ($1,191/mo vs $1,120/mo).

Affordability Calculator

See how your income compares to housing costs in Gunnison County

Your Annual Household Income

Rent Burden

18.5%

of gross income

Max Housing (28% Rule)

$1,805

per month

Owner Cost Burden

22.8%

of gross income

The median home in Gunnison County may be a stretch

Median home value is $597,200. Estimated monthly cost: $4,768 vs. your max of $1,805.

Rent Affordability Guide

Your rent-to-income ratio18.5%

Recommended max30.0%

Income Needed Calculator

See how much you need to earn to comfortably afford housing

Your Annual Household Income

Rent Affordability

$0/yr

Needed to stay within recommended threshold

Median income:$0/yr

Can you afford it? Yes

Your income: $77,358Needed: $47,640

Owner Cost Affordability

$0/yr

Needed to stay within recommended threshold

Median income:$0/yr

Can you afford it? Yes

Your income: $77,358Needed: $63,043

Mortgage Affordability

$0/yr

Needed to stay within recommended threshold

Median income:$0/yr

Can you afford it? No

Your income: $77,358Needed: $138,985

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

What is the cost of living in Gunnison County, Colorado?

Gunnison County, Colorado has a median monthly rent of $1,191/mo and a median home value of $597,200. The affordability rating is Unaffordable, with rent making up approximately 31.0% of median household income.

What is the median rent in Gunnison County?

The median gross rent in Gunnison County is $1,191/mo. This is 5% below state average for Colorado.

Is Gunnison County affordable?

Gunnison County is rated Unaffordable based on rent-to-income ratio of 31.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Gunnison County's rent compare to the state average?

Gunnison County's median rent of $1,191/mo is 5% below state average of $1,253/mo for Colorado.

What is the median home value in Gunnison County?

The median home value in Gunnison County, Colorado is $597,200. This is 112% above the national median home value of $281,900.