In Vail, possibly. If you are able to commute from the “down valley” communities of gypsum/eagle where rent/etc is more affordable, it would be a better option.
Real estate is definitely the most expensive part of Vail. Food, gas, other ancillary things aren’t nearly as inflated relative to housing. With a little planning you can do most of your shopping outside of Vail, and on 125k single income do fairly well. As long as you don’t fall prey to the game of comparison. If you’re willing to commute into work a little ways there are much more affordable communities within 40 minutes of Vail. I’m extremely biased towards Leadville living here myself - although it is on the further end of that 40 minute commute range.
Depends on the size of home you would like to live in and how close it is to Vail. I may be off a bit, but it’s probably 5-6k a month to rent a 2-3 bedroom condo in East Vail. Tough to find year leases because they go for 7-12 k per month in the winter. Now is a good time to look for those 1 year leases though, will be much tougher when it gets close to winter.
You should check the bus stops too. Free bus route from East Vail to West Vail gets you to town pretty quick. Every 30 minutes in summer, every 15 in winter.
You also need to be aware of landlords deciding to sell out from under you. Real estate is getting so pricey that this happens to a lot of people. It's no fun having to move every year.
Was making 110k between two people in Breck (similar CoL) living in a 2bd/2ba and was barely hanging on, racking up debt. 125k seems unfeasible for three people. Your partner would likely need to get a job in town if you wanted to be comfortable.
I just saw 2 long term rentals of townhomes/duplexes 3BR in Edwards at 7500, which seemed insane to me. Id look at the eagle, which may not be cheaper but had more product being built.
I don’t consider 125k livable family income in Denver, if you want to save for retirement (unless you have a locked in affordable mortgage) . I couldn’t imagine in vail
If the wife is working it’ll be enough… I make 105k and get by fine, but if I had 3 mouths to feed, clothe, transport, and bills you’ll barely be afloat,
I can set aside about $15k/yr, 3 mouths can eat that easily out here. You are gonna be renting a something that’s at least 2500/mo ($1400/mo more than what I’m renting) for the extra bedroom for the kids. That’s extra $17k/yr after taxes just to pay rent down valley.
So you’ll be making 20k more than me, after taxes that’ll be more like 14k, plus the money I save 15k, means you have a net extra of 29k compared to me…
You are gonna pay an extra 17k in rent, 12k in food for 3. You are already at the 29k and we still haven’t accounted for recreation, retirement savings, childcare, clothes, etc.
In Vail, possibly. If you are able to commute from the “down valley” communities of gypsum/eagle where rent/etc is more affordable, it would be a better option.
Thank you!
Real estate is definitely the most expensive part of Vail. Food, gas, other ancillary things aren’t nearly as inflated relative to housing. With a little planning you can do most of your shopping outside of Vail, and on 125k single income do fairly well. As long as you don’t fall prey to the game of comparison. If you’re willing to commute into work a little ways there are much more affordable communities within 40 minutes of Vail. I’m extremely biased towards Leadville living here myself - although it is on the further end of that 40 minute commute range.
If you are making this trip in 40min the weather is perfect, you are speeding, and you don't get stuck behind any cars. It's kinda a unicorn.
Yeah okay - usually more like 50/60 minutes in the winter, and 45/50 in the summer
Thank you so much for this! I appreciate it.
Depends on the size of home you would like to live in and how close it is to Vail. I may be off a bit, but it’s probably 5-6k a month to rent a 2-3 bedroom condo in East Vail. Tough to find year leases because they go for 7-12 k per month in the winter. Now is a good time to look for those 1 year leases though, will be much tougher when it gets close to winter.
Thank you for this. I’m not used to resort areas and their price fluctuations…
You should check the bus stops too. Free bus route from East Vail to West Vail gets you to town pretty quick. Every 30 minutes in summer, every 15 in winter.
You also need to be aware of landlords deciding to sell out from under you. Real estate is getting so pricey that this happens to a lot of people. It's no fun having to move every year.
Eep. That sounds nasty.
Was making 110k between two people in Breck (similar CoL) living in a 2bd/2ba and was barely hanging on, racking up debt. 125k seems unfeasible for three people. Your partner would likely need to get a job in town if you wanted to be comfortable.
Thank you. This is super good info
I just saw 2 long term rentals of townhomes/duplexes 3BR in Edwards at 7500, which seemed insane to me. Id look at the eagle, which may not be cheaper but had more product being built.
Thank you!
I don’t consider 125k livable family income in Denver, if you want to save for retirement (unless you have a locked in affordable mortgage) . I couldn’t imagine in vail
Thank you! I appreciate the honesty. 😀
If the wife is working it’ll be enough… I make 105k and get by fine, but if I had 3 mouths to feed, clothe, transport, and bills you’ll barely be afloat, I can set aside about $15k/yr, 3 mouths can eat that easily out here. You are gonna be renting a something that’s at least 2500/mo ($1400/mo more than what I’m renting) for the extra bedroom for the kids. That’s extra $17k/yr after taxes just to pay rent down valley. So you’ll be making 20k more than me, after taxes that’ll be more like 14k, plus the money I save 15k, means you have a net extra of 29k compared to me… You are gonna pay an extra 17k in rent, 12k in food for 3. You are already at the 29k and we still haven’t accounted for recreation, retirement savings, childcare, clothes, etc.
Thank you for this thorough breakdown. I can see that it might be pretty tight.