Grand Junction, Colorado Housing Market Prices
Grand Junction Home Prices and Rent at a Glance
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 22% below the Colorado median$375,289
-
Median rent 35% below the Colorado median$1,151
Housing Market Overview
| Metric | Grand Junction | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $375,289 | $484,034 | $248,835 |
| Price Trend (Annual %) | 15.3% | 10.4% | 7.5% |
| Median Gross Rent | $1,151 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grand Junction is about 22% lower than in Colorado. Rent is about 35% lower than the Colorado average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Grand Junction, up about 15.3% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Grand Junction rose about 38.8% between 2015 and 2024, from $829 to $1,151. Over the same span, rent in Colorado rose about 75.6%.
Affordability
On average, housing unit costs 5.6 yearly household incomes in Grand Junction.
Buying the median-priced home in Grand Junction costs roughly 27.2 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 Grand Junction. The price-to-rent ratio in Colorado is about 22.9.
| Metric | Grand Junction | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $375,289 | $484,034 | $248,835 |
| Median Household Income | $67,597 | $95,803 | $80,455 |
| Price-to-Income Ratio | 5.6 | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Grand Junction rose about 213.4%, while median household income rose about 38.7% between 2009 and 2025 — 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 | Grand Junction | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.5% | 60.7% | 58.5% |
| Rental Rate | 35.6% | 31.0% | 31.2% |
| Vacancy Rate | 4.9% | 8.3% | 10.2% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Grand Junction has a homeownership rate of 59.5%, lower than the Colorado average of 60.7%. Its housing vacancy rate is 4.9%, compared with 8.3% in Colorado.
Housing Stock
| Metric | Grand Junction | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.15 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1981 | 1985 | 1978 |
| Median Number of Rooms | 5.2 | 5.7 | 5.5 |
The typical housing unit in Grand Junction was built around 1981. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Grand Junction, Colorado.
What is the median home price in Grand Junction, Colorado?
The median home price in Grand Junction, Colorado is $375,289, lower than the Colorado average of $484,034.
What is the average home price in Grand Junction, Colorado?
The typical home price in Grand Junction, Colorado, reported as the median sale price, is $375,289. 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 Grand Junction, Colorado?
The median gross rent in Grand Junction, Colorado is $1,151 per month, lower than the Colorado average of $1,761.
What was the median gross rent in Grand Junction in 2020?
In 2020, the median gross rent in Grand Junction, Colorado was $903 per month.
What is the price-to-rent ratio in Grand Junction, Colorado?
The price-to-rent ratio in Grand Junction, Colorado is about 27.2, meaning it would take roughly 27.2 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 Grand Junction.
Are home prices or rent rising faster in Grand Junction, Colorado?
Both home prices and rent are rising in Grand Junction, up about 15.3% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Grand Junction, Colorado?
59.5% of households in Grand Junction, Colorado own their home, lower than the Colorado average of 60.7%.
What is the vacancy rate in Grand Junction, Colorado?
The housing vacancy rate in Grand Junction, Colorado is 4.9%, lower than the Colorado average of 8.3%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →