Ski towns have become popular in recent years, with the appeal of ski resorts, quieter living, and beautiful backdrops appealing to vacationers and home buyers alike. However, recently, those looking for a more permanent alpine escape have encountered steeper price tags. According to Realtor.com, over the past three years, home list prices in ski towns have risen faster than the national housing market’s rapid appreciation in the aftermath of COVID-19. Realtor.com analyzed ski towns by region, noting areas with the steepest and lowest price appreciation. Waterville Valley, New Hampshire and Avon, Colorado experienced price appreciation of more than 100% in the past three years while Colden, New York and Hot Springs, Virginia were two of the few ski towns to see prices go down in the past three years.

The economic research team at Realtor.com® pored over the data to find the ski towns where prices have gone up the most, something investors and homeowners who rent out their homes part time like to see. We also identified the ski towns where prices have gone down, or risen the least, a welcome trend for homebuyers on a budget.

The average price appreciation across all ski towns is about 48% over the past three years, compared with roughly 37% nationally, according to a Realtor.com analysis.

That’s partly driven by an influx of more affluent, remote workers, lured by the possibility of a picturesque lifestyle. The shift has reshaped the traditional ski town community dynamics, driving property values to new heights and altering the once-accessible nature of these winter havens.

There are still places, though, where it’s possible to live frugally and near a ski resort, although buyers might have to travel a bit farther off the beaten path.