Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Apache County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $225,000 | $340,223 | $242,182 |
| Price Trend (Annual %) | 9.0% | 12.4% | 8.2% |
| Median Gross Rent | $646 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 3.8% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Apache County is about 34% lower than in Arizona. Rent is about 55% lower than the Arizona average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Apache County, up about 9.0% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Apache County rose about 23.7% between 2015 and 2023, from $522 to $646. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 5.6 yearly household incomes in Apache County.
Buying the median-priced home in Apache County costs roughly 29.0 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Apache County. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Apache County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $225,000 | $340,223 | $242,182 |
| Median Household Income | $40,316 | $77,100 | $78,145 |
| Price-to-Income Ratio | 5.6 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Apache County rose about 50.7%, while median household income rose about 42.8% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Apache County | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.8% | 59.6% | 58.2% |
| Rental Rate | 14.7% | 29.4% | 31.3% |
| Vacancy Rate | 29.5% | 11.0% | 10.6% |
| Median Tenure (years) | 23.0 | 13.0 | 15.0 |
| Median Year Moved In | 2003 | 2013 | 2011 |
Apache County has a homeownership rate of 55.8%, lower than the Arizona average of 59.6%. Its housing vacancy rate is 29.5%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Apache County | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.14 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1987 | 1990 | 1978 |
| Median Number of Rooms | 4.5 | 5.3 | 5.5 |
The typical housing unit in Apache County was built around 1987. On average, 3.1 people live in a home with about 4.5 rooms, staying for about 23.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Apache County, Arizona.
What is the median home price in Apache County, Arizona?
The median home price in Apache County, Arizona is $225,000, lower than the Arizona average of $340,223.
What is the average home price in Apache County, Arizona?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Apache County, Arizona?
The median gross rent in Apache County, Arizona is $646 per month, lower than the Arizona average of $1,430.
What was the median gross rent in Apache County in 2020?
In 2020, the median gross rent in Apache County, Arizona was $526 per month.
What is the price-to-rent ratio in Apache County, Arizona?
The price-to-rent ratio in Apache County, Arizona is about 29.0, meaning it would take roughly 29.0 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Apache County.
Are home prices or rent rising faster in Apache County, Arizona?
Both home prices and rent are rising in Apache County, up about 9.0% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Apache County, Arizona?
55.8% of households in Apache County, Arizona own their home, lower than the Arizona average of 59.6%.
What is the vacancy rate in Apache County, Arizona?
The housing vacancy rate in Apache County, Arizona is 29.5%, higher than the Arizona average of 11.0%.