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 | Cimarron Hills | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $624,417 | $480,058 | $242,182 |
| Price Trend (Annual %) | 107.9% | 11.8% | 8.2% |
| Median Gross Rent | $1,608 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 5.5% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cimarron Hills is about 30% higher than in Colorado. Rent is about 5% lower than the Colorado average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Cimarron Hills, up about 107.9% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Cimarron Hills rose about 50.1% between 2015 and 2023, from $1,071 to $1,608. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 7.4 yearly household incomes in Cimarron Hills.
Buying the median-priced home in Cimarron Hills costs roughly 32.4 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 Cimarron Hills. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Cimarron Hills | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $624,417 | $480,058 | $242,182 |
| Median Household Income | $83,997 | $93,055 | $78,145 |
| Price-to-Income Ratio | 7.4 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Cimarron Hills rose about 696.5%, while median household income rose about 46.6% 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 | Cimarron Hills | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.1% | 60.6% | 58.2% |
| Rental Rate | 29.6% | 30.8% | 31.3% |
| Vacancy Rate | 3.3% | 8.6% | 10.6% |
| Median Tenure (years) | 10.0 | 13.0 | 15.0 |
| Median Year Moved In | 2016 | 2013 | 2011 |
Cimarron Hills has a homeownership rate of 67.1%, higher than the Colorado average of 60.6%. Its housing vacancy rate is 3.3%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Cimarron Hills | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.73 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1992 | 1984 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Cimarron Hills was built around 1992. On average, 2.7 people live in a home with about 5.9 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Cimarron Hills, Colorado.
What is the median home price in Cimarron Hills, Colorado?
The median home price in Cimarron Hills, Colorado is $624,417, higher than the Colorado average of $480,058.
What is the average home price in Cimarron Hills, 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 Cimarron Hills, Colorado?
The median gross rent in Cimarron Hills, Colorado is $1,608 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Cimarron Hills in 2020?
In 2020, the median gross rent in Cimarron Hills, Colorado was $1,200 per month.
What is the price-to-rent ratio in Cimarron Hills, Colorado?
The price-to-rent ratio in Cimarron Hills, Colorado is about 32.4, meaning it would take roughly 32.4 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 Cimarron Hills.
Are home prices or rent rising faster in Cimarron Hills, Colorado?
Both home prices and rent are rising in Cimarron Hills, up about 107.9% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cimarron Hills, Colorado?
67.1% of households in Cimarron Hills, Colorado own their home, higher than the Colorado average of 60.6%.
What is the vacancy rate in Cimarron Hills, Colorado?
The housing vacancy rate in Cimarron Hills, Colorado is 3.3%, lower than the Colorado average of 8.6%.