Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 4,062, 1,722 total housing units (homes and apartments), and a median house value of $1,050,227, Basalt house prices are not only among the most expensive in Colorado, Basalt real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Basalt, accounting for 53.72% of the town's housing units. Other types of housing that are prevalent in Basalt include large apartment complexes or high rise apartments ( 21.51%), row houses and other attached homes ( 15.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.13%).
The most prevalent building size and type in Basalt are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 61.32% owning and 38.68% renting.
There is a lot of housing in Basalt built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Basalt built between 2000 and later ( 31.10%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.68%). There's also some housing in Basalt built before 1939 ( 4.54%).
Vacant housing appears to be an issue in Basalt. Fully 21.01% of the housing stock is classified as vacant. Left unchecked, vacant Basalt homes and apartments can be a drag on the real estate market, holding Basalt real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Basalt has experienced some of the highest home appreciation rates of any community in the nation. Basalt real estate appreciated 120.33% over the last ten years, which is an average annual home appreciation rate of 8.22%, putting Basalt in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Basalt definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Basalt appreciation rates have trailed the rest of the nation. In the last twelve months, Basalt's appreciation rate has been 4.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Basalt were at -0.63%, which equates to an annual appreciation rate of -2.49%.
Notably, Basalt's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Colorado, our data show that Basalt's latest annual appreciation rate is higher than 70% of the other cities and towns in Colorado.
$1,050,227
for Colorado
for nation
1,722
$4,033 / per month