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.
Housing Market Overview
| Metric | Yuma | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $212,311 | $340,223 | $242,182 |
| Price Trend (Annual %) | 13.2% | 12.4% | 8.2% |
| Median Gross Rent | $1,058 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 3.1% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Yuma is about 38% lower than in Arizona. Rent is about 26% 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 Yuma, up about 13.2% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Yuma rose about 21.4% between 2015 and 2023, from $872 to $1,058. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Yuma.
Buying the median-priced home in Yuma costs roughly 16.7 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 Yuma. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Yuma | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $212,311 | $340,223 | $242,182 |
| Median Household Income | $60,566 | $77,100 | $78,145 |
| Price-to-Income Ratio | 3.5 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Yuma rose about 189.7%, while median household income rose about 55.0% 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 | Yuma | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.1% | 59.6% | 58.2% |
| Rental Rate | 31.0% | 29.4% | 31.3% |
| Vacancy Rate | 13.9% | 11.0% | 10.6% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Yuma has a homeownership rate of 55.1%, lower than the Arizona average of 59.6%. Its housing vacancy rate is 13.9%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Yuma | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 1986 | 1990 | 1978 |
| Median Number of Rooms | 4.8 | 5.3 | 5.5 |
The typical housing unit in Yuma was built around 1986. On average, 2.5 people live in a home with about 4.8 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Yuma, Arizona.
What is the median home price in Yuma, Arizona?
The median home price in Yuma, Arizona is $212,311, lower than the Arizona average of $340,223.
What is the average home price in Yuma, 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 Yuma, Arizona?
The median gross rent in Yuma, Arizona is $1,058 per month, lower than the Arizona average of $1,430.
What was the median gross rent in Yuma in 2020?
In 2020, the median gross rent in Yuma, Arizona was $904 per month.
What is the price-to-rent ratio in Yuma, Arizona?
The price-to-rent ratio in Yuma, Arizona is about 16.7, meaning it would take roughly 16.7 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 Yuma.
Are home prices or rent rising faster in Yuma, Arizona?
Both home prices and rent are rising in Yuma, up about 13.2% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Yuma, Arizona?
55.1% of households in Yuma, Arizona own their home, lower than the Arizona average of 59.6%.
What is the vacancy rate in Yuma, Arizona?
The housing vacancy rate in Yuma, Arizona is 13.9%, higher than the Arizona average of 11.0%.