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.
Housing Market Overview
| Metric | Casa Grande | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $261,105 | $340,223 | $242,182 |
| Price Trend (Annual %) | 57.2% | 12.4% | 8.2% |
| Median Gross Rent | $1,306 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 5.9% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Casa Grande is about 23% lower than in Arizona. Rent is about 9% 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 Casa Grande, up about 57.2% and 5.9% a year respectively. Home prices are changing faster.
Median rent in Casa Grande rose about 49.5% between 2015 and 2023, from $873 to $1,306. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Casa Grande.
Buying the median-priced home in Casa Grande costs roughly 16.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Casa Grande. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Casa Grande | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $261,105 | $340,223 | $242,182 |
| Median Household Income | $66,229 | $77,100 | $78,145 |
| Price-to-Income Ratio | 3.9 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Casa Grande rose about 488.4%, while median household income rose about 52.9% 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 | Casa Grande | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.4% | 59.6% | 58.2% |
| Rental Rate | 24.1% | 29.4% | 31.3% |
| Vacancy Rate | 14.6% | 11.0% | 10.6% |
| Median Tenure (years) | 10.0 | 13.0 | 15.0 |
| Median Year Moved In | 2016 | 2013 | 2011 |
Casa Grande has a homeownership rate of 61.4%, higher than the Arizona average of 59.6%. Its housing vacancy rate is 14.6%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Casa Grande | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.72 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1995 | 1990 | 1978 |
| Median Number of Rooms | 5.3 | 5.3 | 5.5 |
The typical housing unit in Casa Grande was built around 1995. On average, 2.7 people live in a home with about 5.3 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Casa Grande, Arizona.
What is the median home price in Casa Grande, Arizona?
The median home price in Casa Grande, Arizona is $261,105, lower than the Arizona average of $340,223.
What is the average home price in Casa Grande, 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 Casa Grande, Arizona?
The median gross rent in Casa Grande, Arizona is $1,306 per month, lower than the Arizona average of $1,430.
What was the median gross rent in Casa Grande in 2020?
In 2020, the median gross rent in Casa Grande, Arizona was $1,017 per month.
What is the price-to-rent ratio in Casa Grande, Arizona?
The price-to-rent ratio in Casa Grande, Arizona is about 16.7, meaning it would take roughly 16.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Casa Grande.
Are home prices or rent rising faster in Casa Grande, Arizona?
Both home prices and rent are rising in Casa Grande, up about 57.2% and 5.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Casa Grande, Arizona?
61.4% of households in Casa Grande, Arizona own their home, higher than the Arizona average of 59.6%.
What is the vacancy rate in Casa Grande, Arizona?
The housing vacancy rate in Casa Grande, Arizona is 14.6%, higher than the Arizona average of 11.0%.