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 | Navajo County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $245,832 | $340,223 | $242,182 |
| Price Trend (Annual %) | 13.4% | 12.4% | 8.2% |
| Median Gross Rent | $832 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 3.0% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Navajo County is about 28% lower than in Arizona. Rent is about 42% 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 Navajo County, up about 13.4% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Navajo County rose about 26.8% between 2015 and 2023, from $656 to $832. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in Navajo County.
Buying the median-priced home in Navajo County costs roughly 24.6 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 Navajo County. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Navajo County | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $245,832 | $340,223 | $242,182 |
| Median Household Income | $52,794 | $77,100 | $78,145 |
| Price-to-Income Ratio | 4.7 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Navajo County rose about 123.2%, while median household income rose about 36.5% 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 | Navajo County | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.0% | 59.6% | 58.2% |
| Rental Rate | 18.7% | 29.4% | 31.3% |
| Vacancy Rate | 31.2% | 11.0% | 10.6% |
| Median Tenure (years) | 17.0 | 13.0 | 15.0 |
| Median Year Moved In | 2009 | 2013 | 2011 |
Navajo County has a homeownership rate of 50.0%, lower than the Arizona average of 59.6%. Its housing vacancy rate is 31.2%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Navajo County | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.68 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1988 | 1990 | 1978 |
| Median Number of Rooms | 4.9 | 5.3 | 5.5 |
The typical housing unit in Navajo County was built around 1988. On average, 2.7 people live in a home with about 4.9 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Navajo County, Arizona.
What is the median home price in Navajo County, Arizona?
The median home price in Navajo County, Arizona is $245,832, lower than the Arizona average of $340,223.
What is the average home price in Navajo 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 Navajo County, Arizona?
The median gross rent in Navajo County, Arizona is $832 per month, lower than the Arizona average of $1,430.
What was the median gross rent in Navajo County in 2020?
In 2020, the median gross rent in Navajo County, Arizona was $712 per month.
What is the price-to-rent ratio in Navajo County, Arizona?
The price-to-rent ratio in Navajo County, Arizona is about 24.6, meaning it would take roughly 24.6 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 Navajo County.
Are home prices or rent rising faster in Navajo County, Arizona?
Both home prices and rent are rising in Navajo County, up about 13.4% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Navajo County, Arizona?
50.0% of households in Navajo County, Arizona own their home, lower than the Arizona average of 59.6%.
What is the vacancy rate in Navajo County, Arizona?
The housing vacancy rate in Navajo County, Arizona is 31.2%, higher than the Arizona average of 11.0%.