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 | Graham County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $163,839 | $340,223 | $242,182 |
| Price Trend (Annual %) | 17.6% | 12.4% | 8.2% |
| Median Gross Rent | $889 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 1.7% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Graham County is about 52% lower than in Arizona. Rent is about 38% 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 Graham County, up about 17.6% and 1.7% a year respectively. Home prices are changing faster.
Median rent in Graham County rose about 22.1% between 2015 and 2023, from $728 to $889. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Graham County.
Buying the median-priced home in Graham County costs roughly 15.4 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 Graham County. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Graham County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $163,839 | $340,223 | $242,182 |
| Median Household Income | $66,079 | $77,100 | $78,145 |
| Price-to-Income Ratio | 2.5 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Graham County rose about 101.5%, while median household income rose about 60.4% 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 | Graham County | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.7% | 59.6% | 58.2% |
| Rental Rate | 23.6% | 29.4% | 31.3% |
| Vacancy Rate | 10.6% | 11.0% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Graham County has a homeownership rate of 65.7%, higher than the Arizona average of 59.6%. Its housing vacancy rate is 10.6%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Graham County | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.87 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1986 | 1990 | 1978 |
| Median Number of Rooms | 5.7 | 5.3 | 5.5 |
The typical housing unit in Graham County was built around 1986. On average, 2.9 people live in a home with about 5.7 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Graham County, Arizona.
What is the median home price in Graham County, Arizona?
The median home price in Graham County, Arizona is $163,839, lower than the Arizona average of $340,223.
What is the average home price in Graham 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 Graham County, Arizona?
The median gross rent in Graham County, Arizona is $889 per month, lower than the Arizona average of $1,430.
What was the median gross rent in Graham County in 2020?
In 2020, the median gross rent in Graham County, Arizona was $823 per month.
What is the price-to-rent ratio in Graham County, Arizona?
The price-to-rent ratio in Graham County, Arizona is about 15.4, meaning it would take roughly 15.4 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 Graham County.
Are home prices or rent rising faster in Graham County, Arizona?
Both home prices and rent are rising in Graham County, up about 17.6% and 1.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Graham County, Arizona?
65.7% of households in Graham County, Arizona own their home, higher than the Arizona average of 59.6%.
What is the vacancy rate in Graham County, Arizona?
The housing vacancy rate in Graham County, Arizona is 10.6%, lower than the Arizona average of 11.0%.