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 | Bent County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $368,749 | $480,058 | $242,182 |
| Price Trend (Annual %) | 598.6% | 11.8% | 8.2% |
| Median Gross Rent | $853 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bent County is about 23% lower than in Colorado. Rent is about 50% lower 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 Bent County, up about 598.6% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Bent County rose about 19.6% between 2015 and 2023, from $713 to $853. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 7.6 yearly household incomes in Bent County.
Buying the median-priced home in Bent County costs roughly 36.0 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 Bent County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Bent County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $368,749 | $480,058 | $242,182 |
| Median Household Income | $48,653 | $93,055 | $78,145 |
| Price-to-Income Ratio | 7.6 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bent County rose about 672.0%, while median household income rose about 37.0% 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 | Bent County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.3% | 60.6% | 58.2% |
| Rental Rate | 29.4% | 30.8% | 31.3% |
| Vacancy Rate | 13.3% | 8.6% | 10.6% |
| Median Tenure (years) | 15.0 | 13.0 | 15.0 |
| Median Year Moved In | 2011 | 2013 | 2011 |
Bent County has a homeownership rate of 57.3%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 13.3%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Bent County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.21 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1963 | 1984 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Bent County was built around 1963. On average, 2.2 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bent County, Colorado.
What is the median home price in Bent County, Colorado?
The median home price in Bent County, Colorado is $368,749, lower than the Colorado average of $480,058.
What is the average home price in Bent 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 Bent County, Colorado?
The median gross rent in Bent County, Colorado is $853 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Bent County in 2020?
In 2020, the median gross rent in Bent County, Colorado was $667 per month.
What is the price-to-rent ratio in Bent County, Colorado?
The price-to-rent ratio in Bent County, Colorado is about 36.0, meaning it would take roughly 36.0 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 Bent County.
Are home prices or rent rising faster in Bent County, Colorado?
Both home prices and rent are rising in Bent County, up about 598.6% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bent County, Colorado?
57.3% of households in Bent County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Bent County, Colorado?
The housing vacancy rate in Bent County, Colorado is 13.3%, higher than the Colorado average of 8.6%.