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 | Arapahoe County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $469,214 | $480,058 | $242,182 |
| Price Trend (Annual %) | 11.9% | 11.8% | 8.2% |
| Median Gross Rent | $1,812 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 6.8% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Arapahoe County is about 2% lower than in Colorado. Rent is about 7% higher than the Colorado 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 Arapahoe County, up about 11.9% and 6.8% a year respectively. Home prices are changing faster.
Median rent in Arapahoe County rose about 68.0% between 2015 and 2023, from $1,078 to $1,812. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 4.8 yearly household incomes in Arapahoe County.
Buying the median-priced home in Arapahoe County costs roughly 21.6 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 Arapahoe County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Arapahoe County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $469,214 | $480,058 | $242,182 |
| Median Household Income | $98,441 | $93,055 | $78,145 |
| Price-to-Income Ratio | 4.8 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Arapahoe County rose about 129.3%, while median household income rose about 67.3% 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 | Arapahoe County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.4% | 60.6% | 58.2% |
| Rental Rate | 33.1% | 30.8% | 31.3% |
| Vacancy Rate | 4.5% | 8.6% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Arapahoe County has a homeownership rate of 62.4%, higher than the Colorado average of 60.6%. Its housing vacancy rate is 4.5%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Arapahoe County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1984 | 1984 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Arapahoe County was built around 1984. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Arapahoe County, Colorado.
What is the median home price in Arapahoe County, Colorado?
The median home price in Arapahoe County, Colorado is $469,214, lower than the Colorado average of $480,058.
What is the average home price in Arapahoe County, Colorado?
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 Arapahoe County, Colorado?
The median gross rent in Arapahoe County, Colorado is $1,812 per month, higher than the Colorado average of $1,692.
What was the median gross rent in Arapahoe County in 2020?
In 2020, the median gross rent in Arapahoe County, Colorado was $1,451 per month.
What is the price-to-rent ratio in Arapahoe County, Colorado?
The price-to-rent ratio in Arapahoe County, Colorado is about 21.6, meaning it would take roughly 21.6 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 Arapahoe County.
Are home prices or rent rising faster in Arapahoe County, Colorado?
Both home prices and rent are rising in Arapahoe County, up about 11.9% and 6.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Arapahoe County, Colorado?
62.4% of households in Arapahoe County, Colorado own their home, higher than the Colorado average of 60.6%.
What is the vacancy rate in Arapahoe County, Colorado?
The housing vacancy rate in Arapahoe County, Colorado is 4.5%, lower than the Colorado average of 8.6%.