Breckenridge named 3rd most expensive town in America
BRECKENRIDGE — Breckenridge was named the third most expensive town in America in rankings released Aug. 15 by LendingTree.
To rank the 50 most expensive towns, the study looked at median home values and median income “to determine how attainable homeownership is for the average person living there.”
The survey found that renting or owning a home was out of reach for median income earners in 42 of the 50 towns in the study, including Breckenridge.
Here’s a look at the Breckenridge data:
- Population: 31,004 (Summit County)
- Median individual income: $31,611
- Median home value: $547,700
- Affordable housing costs for a median income earner: $738
- Mortgage payment for a median priced home: $2,246
- Median rent payment: $1,343
- Home affordability deficit: minus $1,509
- Rent affordability deficit: minus $605
Steamboat Springs also made the top 10, landing in fifth place. Curiously, Montrose was ranked 29th and Craig was ranked 50th.
Facing traffic woes and oncoming growth, officials are looking at road improvements.