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 | Mohave County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $244,160 | $340,223 | $242,182 |
| Price Trend (Annual %) | 15.4% | 12.4% | 8.2% |
| Median Gross Rent | $1,047 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mohave County is about 28% lower than in Arizona. Rent is about 27% 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 Mohave County, up about 15.4% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Mohave County rose about 33.4% between 2015 and 2023, from $785 to $1,047. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 4.4 yearly household incomes in Mohave County.
Buying the median-priced home in Mohave County costs roughly 19.4 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 Mohave County. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Mohave County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $244,160 | $340,223 | $242,182 |
| Median Household Income | $55,972 | $77,100 | $78,145 |
| Price-to-Income Ratio | 4.4 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Mohave County rose about 144.9%, while median household income rose about 39.4% 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 | Mohave County | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.7% | 59.6% | 58.2% |
| Rental Rate | 21.4% | 29.4% | 31.3% |
| Vacancy Rate | 19.0% | 11.0% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Mohave County has a homeownership rate of 59.7%, about the same as the Arizona average of 59.6%. Its housing vacancy rate is 19.0%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Mohave County | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.20 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1994 | 1990 | 1978 |
| Median Number of Rooms | 5.2 | 5.3 | 5.5 |
The typical housing unit in Mohave County was built around 1994. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mohave County, Arizona.
What is the median home price in Mohave County, Arizona?
The median home price in Mohave County, Arizona is $244,160, lower than the Arizona average of $340,223.
What is the average home price in Mohave 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 Mohave County, Arizona?
The median gross rent in Mohave County, Arizona is $1,047 per month, lower than the Arizona average of $1,430.
What was the median gross rent in Mohave County in 2020?
In 2020, the median gross rent in Mohave County, Arizona was $839 per month.
What is the price-to-rent ratio in Mohave County, Arizona?
The price-to-rent ratio in Mohave County, Arizona is about 19.4, meaning it would take roughly 19.4 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 Mohave County.
Are home prices or rent rising faster in Mohave County, Arizona?
Both home prices and rent are rising in Mohave County, up about 15.4% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mohave County, Arizona?
59.7% of households in Mohave County, Arizona own their home, about the same as the Arizona average.
What is the vacancy rate in Mohave County, Arizona?
The housing vacancy rate in Mohave County, Arizona is 19.0%, higher than the Arizona average of 11.0%.