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 | Gila County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $211,234 | $340,223 | $242,182 |
| Price Trend (Annual %) | 2.4% | 12.4% | 8.2% |
| Median Gross Rent | $1,001 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gila County is about 38% lower than in Arizona. Rent is about 30% 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 Gila County, up about 2.4% and 4.0% a year respectively. Rent is changing faster.
Median rent in Gila County rose about 35.0% between 2015 and 2023, from $741 to $1,001. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Gila County.
Buying the median-priced home in Gila 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 Gila County. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Gila County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $211,234 | $340,223 | $242,182 |
| Median Household Income | $58,998 | $77,100 | $78,145 |
| Price-to-Income Ratio | 3.6 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Gila County rose about 8.2%, while median household income rose about 59.8% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Gila County | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.0% | 59.6% | 58.2% |
| Rental Rate | 16.3% | 29.4% | 31.3% |
| Vacancy Rate | 28.7% | 11.0% | 10.6% |
| Median Tenure (years) | 15.0 | 13.0 | 15.0 |
| Median Year Moved In | 2011 | 2013 | 2011 |
Gila County has a homeownership rate of 55.0%, lower than the Arizona average of 59.6%. Its housing vacancy rate is 28.7%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Gila County | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.25 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1985 | 1990 | 1978 |
| Median Number of Rooms | 5.2 | 5.3 | 5.5 |
The typical housing unit in Gila County was built around 1985. On average, 2.3 people live in a home with about 5.2 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Gila County, Arizona.
What is the median home price in Gila County, Arizona?
The median home price in Gila County, Arizona is $211,234, lower than the Arizona average of $340,223.
What is the average home price in Gila 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 Gila County, Arizona?
The median gross rent in Gila County, Arizona is $1,001 per month, lower than the Arizona average of $1,430.
What was the median gross rent in Gila County in 2020?
In 2020, the median gross rent in Gila County, Arizona was $836 per month.
What is the price-to-rent ratio in Gila County, Arizona?
The price-to-rent ratio in Gila 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 Gila County.
Are home prices or rent rising faster in Gila County, Arizona?
Both home prices and rent are rising in Gila County, up about 2.4% and 4.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Gila County, Arizona?
55.0% of households in Gila County, Arizona own their home, lower than the Arizona average of 59.6%.
What is the vacancy rate in Gila County, Arizona?
The housing vacancy rate in Gila County, Arizona is 28.7%, higher than the Arizona average of 11.0%.