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 | Cochise County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $198,189 | $340,223 | $242,182 |
| Price Trend (Annual %) | 10.2% | 12.4% | 8.2% |
| Median Gross Rent | $939 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 2.6% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cochise County is about 42% lower than in Arizona. Rent is about 34% 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 Cochise County, up about 10.2% and 2.6% a year respectively. Home prices are changing faster.
Median rent in Cochise County rose about 17.0% between 2015 and 2023, from $802 to $939. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Cochise County.
Buying the median-priced home in Cochise County costs roughly 17.6 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 Cochise County. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Cochise County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $198,189 | $340,223 | $242,182 |
| Median Household Income | $58,925 | $77,100 | $78,145 |
| Price-to-Income Ratio | 3.4 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Cochise County rose about 77.8%, while median household income rose about 35.7% 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 | Cochise County | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.0% | 59.6% | 58.2% |
| Rental Rate | 25.1% | 29.4% | 31.3% |
| Vacancy Rate | 14.9% | 11.0% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Cochise County has a homeownership rate of 60.0%, about the same as the Arizona average of 59.6%. Its housing vacancy rate is 14.9%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Cochise County | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1987 | 1990 | 1978 |
| Median Number of Rooms | 5.5 | 5.3 | 5.5 |
The typical housing unit in Cochise County was built around 1987. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Cochise County, Arizona.
What is the median home price in Cochise County, Arizona?
The median home price in Cochise County, Arizona is $198,189, lower than the Arizona average of $340,223.
What is the average home price in Cochise 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 Cochise County, Arizona?
The median gross rent in Cochise County, Arizona is $939 per month, lower than the Arizona average of $1,430.
What was the median gross rent in Cochise County in 2020?
In 2020, the median gross rent in Cochise County, Arizona was $803 per month.
What is the price-to-rent ratio in Cochise County, Arizona?
The price-to-rent ratio in Cochise County, Arizona is about 17.6, meaning it would take roughly 17.6 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 Cochise County.
Are home prices or rent rising faster in Cochise County, Arizona?
Both home prices and rent are rising in Cochise County, up about 10.2% and 2.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cochise County, Arizona?
60.0% of households in Cochise County, Arizona own their home, higher than the Arizona average of 59.6%.
What is the vacancy rate in Cochise County, Arizona?
The housing vacancy rate in Cochise County, Arizona is 14.9%, higher than the Arizona average of 11.0%.