Cost of Living in Summit County, Colorado
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Summit County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Summit County ranks #3,071 of 3,142 counties for affordability (bottom 2%)
Sourced county brief
Summit County Median Gross Rent Reaches $1,928 Monthly
The median gross rent in Summit County was estimated at $1,928 per month, which is $625 above the Colorado unweighted county mean of $1,303. This median gross rent as a percentage of household income (official B25071 GRAPI) was 31.2%, or 1.6 percentage points above the unweighted state county mean of 29.6%. Renter households reported a median annual income of $71,386. For owner-occupied housing, the median home value was $939,900, which is $512,387 higher than the Colorado unweighted county mean of $427,513. Additionally, the median selected monthly owner cost was $2,028, compared to the unweighted state county mean of $1,272. See ACS table B25064 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Summit County
Affordability Verdict
ACS B25071 estimates median gross rent at 31.2% of renter household income in Summit County, which is between the 30% and 50% rent-burden benchmarks. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,928 per month; median selected monthly owner costs are $2,028. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $77,120 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Colorado unweighted mean of county median rents is $1,303 per month. Summit County's $1,928 median is 48.0% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Summit County
Rent Burden
21.1%
of gross income
Max Housing (28% Rule)
$2,561
per month
Owner Cost Burden
22.2%
of gross income
The median home in Summit County may be a stretch
Median home value is $939,900. Estimated monthly cost: $7,504 vs. your max of $2,561.
Rent Affordability Guide
Income Needed Calculator
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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 (2020-2024). Data is informational only and is not personalized financial advice.
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