Mammoth Lakes in 1986

A condominium sold for a median of $70,164 — $211,435 in today’s money, 74% below where it stands now.

Condominium median

$70,164

$211,435 in 2026 money

Snowfall

434"

season total at the main lodge

What happened

Policy & tax
Tax Reform Act of 1986
The 1986 federal tax overhaul eliminated the passive-loss and shelter benefits that had made Mammoth second homes attractive to high-income professionals.
the tax law changes in 1986 destroyed existing and very, very attractive tax benefits to second homes
Paul Oster Broker Report →

40 recorded earthquakes of magnitude 2.5 or greater in the Long Valley Caldera, the largest at M3.8.