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 | Conejos County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $265,000 | $480,058 | $242,182 |
| Price Trend (Annual %) | 65.5% | 11.8% | 8.2% |
| Median Gross Rent | $724 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Conejos County is about 45% lower than in Colorado. Rent is about 57% lower than the Colorado average.
Median Home and Rent Price Trends
Median Home Prices, 2016-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Conejos County, up about 65.5% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Conejos County rose about 45.5% between 2015 and 2023, from $497 to $724. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 5.5 yearly household incomes in Conejos County.
Buying the median-priced home in Conejos County costs roughly 30.5 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 Conejos County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Conejos County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $265,000 | $480,058 | $242,182 |
| Median Household Income | $48,003 | $93,055 | $78,145 |
| Price-to-Income Ratio | 5.5 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2016 and 2023, the median home price in Conejos County rose about 40.3%, while median household income rose about 49.0% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Conejos County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.1% | 60.6% | 58.2% |
| Rental Rate | 19.5% | 30.8% | 31.3% |
| Vacancy Rate | 23.3% | 8.6% | 10.6% |
| Median Tenure (years) | 19.0 | 13.0 | 15.0 |
| Median Year Moved In | 2007 | 2013 | 2011 |
Conejos County has a homeownership rate of 57.1%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 23.3%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Conejos County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1977 | 1984 | 1978 |
| Median Number of Rooms | 5.3 | 5.7 | 5.5 |
The typical housing unit in Conejos County was built around 1977. On average, 2.4 people live in a home with about 5.3 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Conejos County, Colorado.
What is the median home price in Conejos County, Colorado?
The median home price in Conejos County, Colorado is $265,000, lower than the Colorado average of $480,058.
What is the average home price in Conejos 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 Conejos County, Colorado?
The median gross rent in Conejos County, Colorado is $724 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Conejos County in 2020?
In 2020, the median gross rent in Conejos County, Colorado was $614 per month.
What is the price-to-rent ratio in Conejos County, Colorado?
The price-to-rent ratio in Conejos County, Colorado is about 30.5, meaning it would take roughly 30.5 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 Conejos County.
Are home prices or rent rising faster in Conejos County, Colorado?
Both home prices and rent are rising in Conejos County, up about 65.5% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Conejos County, Colorado?
57.1% of households in Conejos County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Conejos County, Colorado?
The housing vacancy rate in Conejos County, Colorado is 23.3%, higher than the Colorado average of 8.6%.