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 | Crowley County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $162,500 | $480,058 | $242,182 |
| Price Trend (Annual %) | 70.3% | 11.8% | 8.2% |
| Median Gross Rent | $975 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 6.3% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Crowley County is about 66% lower than in Colorado. Rent is about 42% 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 Crowley County, up about 70.3% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Crowley County rose about 64.2% between 2015 and 2023, from $594 to $975. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Crowley County.
Buying the median-priced home in Crowley County costs roughly 13.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Crowley County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Crowley County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $162,500 | $480,058 | $242,182 |
| Median Household Income | $48,544 | $93,055 | $78,145 |
| Price-to-Income Ratio | 3.3 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Crowley County fell about 60.7%, while median household income rose about 36.7% 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 | Crowley County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.1% | 60.6% | 58.2% |
| Rental Rate | 29.7% | 30.8% | 31.3% |
| Vacancy Rate | 13.2% | 8.6% | 10.6% |
| Median Tenure (years) | 17.0 | 13.0 | 15.0 |
| Median Year Moved In | 2009 | 2013 | 2011 |
Crowley County has a homeownership rate of 57.1%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 13.2%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Crowley County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.14 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1964 | 1984 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Crowley County was built around 1964. On average, 3.1 people live in a home with about 5.4 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Crowley County, Colorado.
What is the median home price in Crowley County, Colorado?
The median home price in Crowley County, Colorado is $162,500, lower than the Colorado average of $480,058.
What is the average home price in Crowley 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 Crowley County, Colorado?
The median gross rent in Crowley County, Colorado is $975 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Crowley County in 2020?
In 2020, the median gross rent in Crowley County, Colorado was $1,059 per month.
What is the price-to-rent ratio in Crowley County, Colorado?
The price-to-rent ratio in Crowley County, Colorado is about 13.9, meaning it would take roughly 13.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Crowley County.
Are home prices or rent rising faster in Crowley County, Colorado?
Both home prices and rent are rising in Crowley County, up about 70.3% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Crowley County, Colorado?
57.1% of households in Crowley County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Crowley County, Colorado?
The housing vacancy rate in Crowley County, Colorado is 13.2%, higher than the Colorado average of 8.6%.