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 | Boulder County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $663,487 | $480,058 | $242,182 |
| Price Trend (Annual %) | 10.1% | 11.8% | 8.2% |
| Median Gross Rent | $1,892 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 6.3% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Boulder County is about 38% higher than in Colorado. Rent is about 12% 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 Boulder County, up about 10.1% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Boulder County rose about 59.5% between 2015 and 2023, from $1,187 to $1,892. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 6.4 yearly household incomes in Boulder County.
Buying the median-priced home in Boulder County costs roughly 29.2 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 Boulder County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Boulder County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $663,487 | $480,058 | $242,182 |
| Median Household Income | $103,231 | $93,055 | $78,145 |
| Price-to-Income Ratio | 6.4 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Boulder County rose about 86.2%, while median household income rose about 59.2% 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 | Boulder County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.1% | 60.6% | 58.2% |
| Rental Rate | 35.6% | 30.8% | 31.3% |
| Vacancy Rate | 5.3% | 8.6% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Boulder County has a homeownership rate of 59.1%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 5.3%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Boulder County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1985 | 1984 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Boulder County was built around 1985. On average, 2.3 people live in a home with about 5.8 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Boulder County, Colorado.
What is the median home price in Boulder County, Colorado?
The median home price in Boulder County, Colorado is $663,487, higher than the Colorado average of $480,058.
What is the average home price in Boulder 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 Boulder County, Colorado?
The median gross rent in Boulder County, Colorado is $1,892 per month, higher than the Colorado average of $1,692.
What was the median gross rent in Boulder County in 2020?
In 2020, the median gross rent in Boulder County, Colorado was $1,582 per month.
What is the price-to-rent ratio in Boulder County, Colorado?
The price-to-rent ratio in Boulder County, Colorado is about 29.2, meaning it would take roughly 29.2 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 Boulder County.
Are home prices or rent rising faster in Boulder County, Colorado?
Both home prices and rent are rising in Boulder County, up about 10.1% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Boulder County, Colorado?
59.1% of households in Boulder County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Boulder County, Colorado?
The housing vacancy rate in Boulder County, Colorado is 5.3%, lower than the Colorado average of 8.6%.