Choosing Between A Condo Or House In Aspen

Torn between a slope-side condo and a private mountain home in Aspen? You’re not alone. The tradeoffs here go beyond style and price. Permits, taxes, HOA rules, and true operating costs can shape both your lifestyle and your bottom line. In this guide, you’ll learn how condos and single-family homes compare in Aspen, what rules affect rental use, what to expect for ongoing costs, and how to match neighborhoods to your goals. Let’s dive in.

Start with goals and budget

Before you fall for a view or a lobby scent, get clear on how you plan to use the property. Will you be here a few weeks a year, all season, or full time? Do you want rental income when you are away? How important are walkability and on-site services versus privacy and acreage? Your answers will steer you toward a condo or a house and set the criteria for your search.

For context, Aspen remains a high-price, low-supply market. Third-party trackers have reported Aspen’s average home value in the multi-million dollar range, with Zillow showing about $3.41M as of January 31, 2026. Market statistics can swing because a few ultra-luxury sales move the averages, so use current data for specific decisions.

Condo living in Aspen

Why buyers choose condos

• Walk-to-everything convenience near the Silver Queen Gondola and the Core.
• Hotel-style services in many buildings, like concierge, ski valet, housekeeping options, and gyms.
• Lock-and-leave simplicity, with on-site management handling much of the upkeep.

Condos often deliver prime locations at a lower entry price than comparable single-family homes in the same radius. The tradeoff is HOA dues, which vary widely based on services and amenities. Representative listings show ranges from roughly the high hundreds per month to well over $2,500 per month in full-service buildings. What those dues cover matters. Snow removal, parking, utilities, shuttle service, insurance on common elements, and reserve funding differ by association. Always request the HOA budget, reserve study, and rules during due diligence.

Short-term rental fit

If you value rental flexibility, some condo buildings make short-term rentals relatively straightforward, while others restrict them. In the City of Aspen, stays under 30 days require a permit, and the rules vary by permit type. Review the City’s program for details on Lodging Exempt, Owner-Occupied, and Classic permits, including caps and requirements listed on the City of Aspen short-term rental page. Confirm whether the building allows short-term rentals in its bylaws before you assume any income plan.

Best for you if

You want walkability, services, easier maintenance, and a potential path to rental income within a clear permit and HOA framework.

Single-family homes in Aspen

Why buyers choose houses

• Privacy, outdoor space, and room to spread out for longer stays.
• Garages, larger storage, and scope to customize amenities.
• A quiet residential setting, often with views and sun exposure that change the feel of daily life.

The flip side is responsibility. Owners handle exterior upkeep, snow plowing, landscaping, and more complex systems. Operating budgets are usually higher than for a low-service condo, and you may need local help when you are away. Full-service care is available through local property managers, and fees vary based on the scope of services.

Rental and operations

Single-family homes inside Aspen city limits still follow the City’s short-term rental rules. In unincorporated Pitkin County, the licensing program includes a four-night minimum stay and a 120-night annual limit for most licenses, among other requirements. Review the Pitkin County STR licensing page to understand if your intended use is allowed for a given parcel.

Best for you if

You value privacy, outdoor living, larger floor plans, and long-stay comfort more than building amenities and walkability.

The rules that often decide the choice

Aspen STR permits

The City of Aspen requires permits for stays under 30 days and offers three permit types. Owner-Occupied permits are limited to 120 nights per year, while other types have different caps or qualifications. You must also hold a business license, display your permit number, and follow tax reporting requirements. Review the current rules on the City of Aspen short-term rental page. Always verify whether a unit already has a valid permit and whether that permit type can transfer.

Pitkin County STR licensing

In unincorporated Pitkin County, the short-term rental license program sets a four-night minimum stay and typically limits most licenses to 120 nights per year. There is also a history-of-use requirement for many properties. Fee formulas are tied to assessor market value. Read the full program details on the Pitkin County STR page.

Deed restrictions via APCHA

Some Aspen-area properties carry deed restrictions overseen by the Aspen/Pitkin County Housing Authority (APCHA). These can limit occupancy, set resale formulas, and control who can purchase. If a property is deed-restricted, APCHA approval may be required for resale. Learn more at APCHA. Confirm deed restrictions early. They directly affect marketability and rental use.

Taxes and assessment

Colorado’s assessment rules have changed in recent years. For 2025 planning, the residential assessment rate for local government tax calculation is 6.25 percent, with different school rates. Your actual tax bill depends on assessed value and local mill levies. For parcel specifics and historical tax data, consult the Pitkin County Assessor resources and review mill-levy details with your advisor. The state’s guidance is posted by the Colorado Department of Property Taxation.

What ongoing costs look like

Think in three buckets.

1) Predictable fixed costs

• HOA dues for condos. These range widely based on services. Review what is included and the reserve strength.
• Property taxes. Use the assessment rate and local mill levies to estimate, then confirm with the Assessor.
• Insurance. Coverage and premiums vary by property type and hazard exposure.

2) Variable service costs

• Property management. If you plan to rent, full-service STR management often runs about 15 to 35 percent of gross rental revenue. Industry reviews outline these ranges for larger operators and local providers. For context, see this independent fee overview on management commission ranges. Scope and service level drive the final rate.
• Housekeeping, linens, hot tub care, and seasonal services like snow removal.
• Utilities, internet, and security monitoring.

3) Capital and renewal items

• Roof and exterior systems for homes, boiler and heating systems in both condos and houses.
• Driveway repair and snow-melt systems where installed.
• Windows, insulation, and water systems suited for freeze conditions.

Neighborhood fit: quick guide

• Downtown/Core. Best for condo buyers who value walkability to dining, shopping, and the gondola.
• West End. Historic, walkable single-family streets close to town and cultural venues.
• Smuggler and East Aspen. Access to trails and sun exposure with proximity to downtown.
• Red Mountain, Starwood, McLain Flats, and nearby valleys. Larger lots, privacy, and view properties that suit estate-style living.

Each area has its own rhythm, access, and setting. Match the neighborhood to your daily routine, from ski days and summer concerts to quiet evenings at home.

Rental revenue: set expectations by location and season

Aspen is seasonal, with peak demand in winter and a strong summer and events calendar. Downtown and slope-side addresses command premium daily rates and occupancy. More remote homes can perform well with the right positioning but often require stronger marketing and guest services. For a realistic pro forma, use property-specific comparables, seasonal calendars, and any available booking history. Policy details and local studies offer useful context, including the Pitkin County STR impact study.

What to confirm before you write an offer

Use this as a pre-offer checklist:

• Does the property have an active short-term rental permit or license? What type is it, and can it transfer? Review the City of Aspen STR rules or the Pitkin County STR program based on location.
• Is the property deed-restricted by APCHA? If so, what are the occupancy, resale, and approval rules? Start at APCHA.
• For condos, what exactly do HOA dues cover? Ask for the budget, reserve study, and rules. Confirm whether short-term rentals are allowed by the HOA.
• Who is the required local contact or representative for STR compliance, and what are the 24/7 availability expectations?
• Utilities and access. City services or well and septic? Driveway grade and winter access needs?
• Insurance and hazards. Get a provisional quote and review wildfire or flood risk. Local agencies publish updates and safety guidance at Snowmass public safety alerts.
• If buying for income, request booking history, net-to-owner statements, and a property manager’s sample P&L.
• Condition items that matter in the mountains. Ask about boiler age and service, roof condition, insulation quality, window performance, and hot-tub or snow-melt maintenance.

Condo vs house: a quick decision framework

Choose a condo if you want:

• Walkability and quick access to lifts and restaurants.
• On-site services and easier maintenance when you are away.
• A building that aligns with your rental goals and permit path.

Choose a single-family home if you want:

• Privacy, larger living areas, and outdoor space.
• Flexibility to customize features and host longer stays.
• A property less defined by HOA rules and more by your own operations plan.

Taxes and lodging considerations

If you plan to rent short term inside city limits, expect to collect and remit lodging and STR excise taxes as outlined by the City’s STR materials. Permit type can affect how reporting works. For ownership taxes, use the state’s residential assessment rate guidance and your parcel’s mill levies to model your annual bill. The most current details are posted by the Colorado Department of Property Taxation and the Pitkin County Assessor. Local media also track inventory and pricing trends that shape strategy; see recent coverage in the Aspen Times for broader context.

The bottom line

Both options can be excellent choices in Aspen. Condos deliver convenience and services that fit lock-and-leave living. Single-family homes offer privacy, space, and the feel of a true mountain retreat. Your perfect fit comes from aligning lifestyle goals with rules, costs, and neighborhood character. Confirm permit status, deed restrictions, HOA allowances, and tax mechanics before you assume rental income or resale flexibility.

Ready to map your goals to the right properties and neighborhoods? Connect with The Burggraf Group Will And Sarah Burggraf for a private consultation and a clear plan.

FAQs

What are typical Aspen condo HOA dues?

• Dues vary widely based on services and amenities. Representative examples range from roughly the high hundreds per month to well over $2,500 per month in full-service buildings. Always review the HOA budget and reserve study.

Can I short-term rent my Aspen property?

• In the City of Aspen, rentals under 30 days require a permit with specific rules by permit type. In unincorporated Pitkin County, STRs require a county license with a four-night minimum stay and annual night caps. Check the City STR page or County STR program.

How are property taxes calculated in Pitkin County?

• Taxes reflect assessed value multiplied by local mill levies. For 2025 planning, the residential assessment rate for local government is 6.25 percent. See the state assessment guidance and confirm parcel specifics with the Pitkin County Assessor.

What is APCHA and how could it affect me?

• APCHA oversees deed-restricted housing with rules on occupancy, resale, and buyer eligibility. If a property is deed-restricted, APCHA approval and resale formulas may apply. Learn more at APCHA.

What are typical STR management fees in Aspen?

• Full-service STR management commonly runs about 15 to 35 percent of gross rental revenue, depending on scope and service level. See this independent overview of management commission ranges for context.

Which Aspen neighborhoods fit privacy or walkability best?

• For walkability, the Downtown/Core favors condo living near lifts and dining. For privacy and larger lots, consider Red Mountain, Starwood, and McLain Flats. West End and Smuggler offer proximity to town with distinct residential settings.