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 | Costilla County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $184,482 | $480,058 | $242,182 |
| Price Trend (Annual %) | -6.5% | 11.8% | 8.2% |
| Median Gross Rent | $857 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 7.0% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Costilla County is about 62% lower than in Colorado. Rent is about 49% lower than the Colorado average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Costilla County: home prices fell about 6.5% a year while rent rose about 7.0% a year. That is an unusual pattern worth watching.
Median rent in Costilla County rose about 70.8% between 2015 and 2023, from $502 to $857. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 4.9 yearly household incomes in Costilla County.
Buying the median-priced home in Costilla County costs roughly 17.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Costilla County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Costilla County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $184,482 | $480,058 | $242,182 |
| Median Household Income | $37,330 | $93,055 | $78,145 |
| Price-to-Income Ratio | 4.9 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Costilla County fell about 47.3%, while median household income rose about 61.7% 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 | Costilla County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.1% | 60.6% | 58.2% |
| Rental Rate | 14.0% | 30.8% | 31.3% |
| Vacancy Rate | 34.9% | 8.6% | 10.6% |
| Median Tenure (years) | 16.0 | 13.0 | 15.0 |
| Median Year Moved In | 2010 | 2013 | 2011 |
Costilla County has a homeownership rate of 51.1%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 34.9%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Costilla County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1981 | 1984 | 1978 |
| Median Number of Rooms | 4.8 | 5.7 | 5.5 |
The typical housing unit in Costilla County was built around 1981. On average, 2.3 people live in a home with about 4.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Costilla County, Colorado.
What is the median home price in Costilla County, Colorado?
The median home price in Costilla County, Colorado is $184,482, lower than the Colorado average of $480,058.
What is the average home price in Costilla 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 Costilla County, Colorado?
The median gross rent in Costilla County, Colorado is $857 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Costilla County in 2020?
In 2020, the median gross rent in Costilla County, Colorado was $568 per month.
What is the price-to-rent ratio in Costilla County, Colorado?
The price-to-rent ratio in Costilla County, Colorado is about 17.9, meaning it would take roughly 17.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Costilla County.
Are home prices or rent rising faster in Costilla County, Colorado?
Home prices and rent are moving in opposite directions in Costilla County: home prices fell about 6.5% a year while rent rose about 7.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Costilla County, Colorado?
51.1% of households in Costilla County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Costilla County, Colorado?
The housing vacancy rate in Costilla County, Colorado is 34.9%, higher than the Colorado average of 8.6%.