Once a rough and tumble mining town, another Mountain West area has quietly transformed into one of the most exclusive vacation and second home destinations in the US.
And those who live there year-round boast about the mild summers and lack of tourists.
Ketchum, Idaho, attracts millionaires, moguls and the ultra discreet looking to snap up mountain retreats with seven and eight-figure price tags.
Nestled in the peaceful Wood River Valley, this small city is now best known for its ski chalets and indoor-outdoor living.
In May 2025, the median listing price in Ketchum hit $3.72million, making it one of the most expensive mountain markets in the country. It is topped only by Aspen and Telluride in Colorado, and Jackson Hole in Wyoming.
According to locals, Ketchum’s main draw is that it is the quieter alternative to flashier ski towns.
Celebrities love it because they can hide in plain sight.
It has low-key charm, rich history and easy access to the Sun Valley Resort, a ski destination built in 1936 considered a local institution.
Residents who live in Ketchum year-round boast about the mild summers and lack of tourists
Pictured: Local realtor Suzanne Hausner
‘I’ve been here for 30-plus years so I’ve got a pretty good feel for it,’ local realtor Suzanne Hausner told the Daily Mail.
‘It’s great. It’s a small community and it’s not too overwhelmed with people.
‘We’ve got three cities that all have population under 5,000. We’ve got Ketchum, Sun Valley and have the city of Hailey.’
Hailey became famous in the 1980s after Bruce Willis and his then-wife Demi Moore moved there to raise their daughters away from Hollywood. They spent millions revitalizing the downtown district.
In 2018, Willis sold their 20-acre lakefront estate for $5.5 million, breaking a town record at the time.
Moore still enjoys quality time with her family in the area. Last year, she was spotted with her granddaughter Louetta Isley Thomas Willis and her three adult daughters at the Sun Valley Music Festival in Ketchum.
Even though they’ve since divorced and moved back to Hollywood, Willis and Moore set a trend that is still going strong.
Ketchum has become a magnet for buyers who want luxury without the paparazzi.
Pictured: Demi Moore cradling her beloved Chihuahua Pilaf aka Little Mouse while relaxing in Ketchum
The wealthy also like to whisper top secret deals in Ketchum.
Every July, Sun Valley hosts the Allen and Company Sun Valley Media and Technology Conference, known for bringing some of the most powerful moguls in the world together for private meetings.
This year the annual invitation-only retreat, also known as the ‘summer camp for billionaires’, included guests such as Meta founder Mark Zuckerberg, Apple chief Tim Cook, fashion designer Stacey Bendet and First Daughter Ivanka Trump.
But come fall, locals line Main Street for the Trailing of the Sheep Parade where 1,500 sheep march through town in a nod to its ranching roots.
Right before that, Wagon Days takes over with horse-drawn carriages, stagecoaches and small-town pride.
Just six blocks make up the entire downtown, which is lined with independently owned restaurants, art galleries and bars that serve burgers and beer.
No velvet ropes here, but that’s how the quietly wealthy want it.
Pictured: Apple CEO Tim Cook, 64, arriving at the Sun Valley Conference this year
Pictured: Ivanka Trump at the 2025 Sun Valley Conference
Sun Valley Resort transformed Ketchum into a premier ski destination for the wealthy
Ketchum has an interesting history, too.
Ernest Hemingway spent his final years there and is buried in the local cemetery.
His house is now a historic site, fully restored to its original look, and is available for private tours.
Hollywood couple Tom Hanks and Rita Wilson have a custom-built estate in Ketchum.
Jamie Lee Curtis is also a neighbor – there’s even a ski run at the resort named after her mother, Janet Leigh.
Ketchum began as a mining town in the late 1800s and is named after trapper David Ketchum.
The town was used as a supply base for the Upper Wood River mines during the silver and lead boom, which attracted settlers and birthed a downtown.
When the Oregon Short Line Railroad reached Ketchum in 1883, there was a population and job boom thanks to the mining industry.
The Oregon Short Line Railroad reached Ketchum in 1883
Pictured: Ernest Hemingway posing for a photo in Ketchum, a town he called home, in 1952
The view of the Wood River Valley where Bellevue, Hailey, Ketchum and Sun Valley are located
After the mining industry declined, Averell Harriman – then Chairman of Union Pacific – built Sun Valley Resort. This transformed Ketchum into a premier ski destination, complete with the world’s first chairlift, which opened in 1936.
While downtown keeps a measure of its old saloon days with quiet streets and historic buildings, it also features spots like the Pioneer Saloon, a classic steakhouse with mounted game décor and a James Beard Award to its name.
Sun Valley Road is filled with upscale boutiques, home goods shops and gourmet grocery stores.
Residents have their choice of restaurants like LeRoy’s local ice cream, KB’s Mexican fare, Wise Guy’s pizza or Java on 4th for coffee.
The nearby Casino is a no-frills bar dating back to 1936, complete with jukebox, foosball and $5 beers.
For outdoor enthusiasts, the Board Bin sells and rents river rafting gear, ice skates, boots, skis, snowboards, and clothes to bundle up in the winter.
The Wood River Bike Path is perfect for cycling or walking for miles.
Ketchum has some of the finest galleries in the area, and the Sun Valley Museum of Art features exhibitions, talks and year-round workshops.
Visitors at the Gold Mine Thrift Store can even get lucky finding castoffs from wealthy residents, like designer ski suits and accessories, while all the proceeds go to the town library.
As for the slopes, Bald Mountain (called ‘Baldy’ by locals) caters to expert skiers, while nearby Dollar Mountain offers gentler hills and lessons for beginners.
In warmer months, hiking, biking and fly-fishing are popular activities.