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Snowmass / Aspen Colorado Economy

Economy

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The Economies of Snowmass and Aspen, Colorado

Snowmass and Aspen Colorado are considered affluent resort towns. Any visitor to the area will probably be struck by the upscale establishments that Aspen and Snowmass are comprised of. Set in the beautiful Rocky Mountains, Snowmass and Aspen have economies based largely on tourism and outdoor recreation.

The Aspen/Snowmass ski resort generates a bulk of the area's income. Not just one mountain, the ski area includes Snowmass, Aspen Mountain, Aspen Highlands, and Buttermilk. With four mountains, the ski resorts provide a wide range of terrain from beginner slopes to extreme expert runs. Visitors from all over the world flock to Aspen/Snowmass to enjoy the powdery snow and sunny days. During the summer, the resort offers a kids' camp, fishing and hiking, outdoor concerts and music events, golf and tennis, rafting and kayaking, and paintball.

Much of the other business in the Aspen/Snowmass region are tourist based. You'll find many restaurants, food service facilities, shops, retail venues, hotels, and outdoor guiding companies. Scientific and technical services also make up a section of the Aspen/Snowmass economy.

Because Aspen and Snowmass are destination zones, real estate is high. The average median rent in Aspen is about $897, while monthly homeowner costs for people with mortgages are about $1,975. Homes in Aspen and Snowmass are priced considerably higher than the national average. However, the median household income in Aspen is about $53,750, over $10,000 more than the national average.

The towns of Aspen and Snowmass understand that it is vital for the survival of their economies to keep the natural environment healthy. Their economies are caught in a paradox: natural beauty attracts tourists and dollars, but with more people, the pristine environment is threatened. Aspen and Snowmass have implemented several energy saving programs and city features so as to lessen human impact on the environment.

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