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 | Greenlee County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $200,003 | $340,223 | $242,182 |
| Price Trend (Annual %) | 31.5% | 12.4% | 8.2% |
| Median Gross Rent | $570 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Greenlee County is about 41% lower than in Arizona. Rent is about 60% lower than the Arizona average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Greenlee County, up about 31.5% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Greenlee County rose about 37.4% between 2015 and 2023, from $415 to $570. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Greenlee County.
Buying the median-priced home in Greenlee County costs roughly 29.3 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 Greenlee County. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Greenlee County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $200,003 | $340,223 | $242,182 |
| Median Household Income | $75,575 | $77,100 | $78,145 |
| Price-to-Income Ratio | 2.6 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Greenlee County rose about 225.7%, while median household income rose about 65.7% 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 | Greenlee County | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 43.5% | 59.6% | 58.2% |
| Rental Rate | 34.4% | 29.4% | 31.3% |
| Vacancy Rate | 22.1% | 11.0% | 10.6% |
| Median Tenure (years) | 16.0 | 13.0 | 15.0 |
| Median Year Moved In | 2010 | 2013 | 2011 |
Greenlee County has a homeownership rate of 43.5%, lower than the Arizona average of 59.6%. Its housing vacancy rate is 22.1%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Greenlee County | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.72 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1982 | 1990 | 1978 |
| Median Number of Rooms | 5.3 | 5.3 | 5.5 |
The typical housing unit in Greenlee County was built around 1982. On average, 2.7 people live in a home with about 5.3 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Greenlee County, Arizona.
What is the median home price in Greenlee County, Arizona?
The median home price in Greenlee County, Arizona is $200,003, lower than the Arizona average of $340,223.
What is the average home price in Greenlee 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 Greenlee County, Arizona?
The median gross rent in Greenlee County, Arizona is $570 per month, lower than the Arizona average of $1,430.
What was the median gross rent in Greenlee County in 2020?
In 2020, the median gross rent in Greenlee County, Arizona was $467 per month.
What is the price-to-rent ratio in Greenlee County, Arizona?
The price-to-rent ratio in Greenlee County, Arizona is about 29.3, meaning it would take roughly 29.3 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 Greenlee County.
Are home prices or rent rising faster in Greenlee County, Arizona?
Both home prices and rent are rising in Greenlee County, up about 31.5% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Greenlee County, Arizona?
43.5% of households in Greenlee County, Arizona own their home, lower than the Arizona average of 59.6%.
What is the vacancy rate in Greenlee County, Arizona?
The housing vacancy rate in Greenlee County, Arizona is 22.1%, higher than the Arizona average of 11.0%.