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 | Gunnison County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $705,882 | $480,058 | $242,182 |
| Price Trend (Annual %) | 9.0% | 11.8% | 8.2% |
| Median Gross Rent | $1,190 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gunnison County is about 47% higher than in Colorado. Rent is about 30% 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 Gunnison County, up about 9.0% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Gunnison County rose about 31.9% between 2015 and 2023, from $902 to $1,190. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 9.2 yearly household incomes in Gunnison County.
Buying the median-priced home in Gunnison County costs roughly 49.4 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 Gunnison County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Gunnison County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $705,882 | $480,058 | $242,182 |
| Median Household Income | $77,074 | $93,055 | $78,145 |
| Price-to-Income Ratio | 9.2 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Gunnison County rose about 43.5%, while median household income rose about 72.8% 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 | Gunnison County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.8% | 60.6% | 58.2% |
| Rental Rate | 21.2% | 30.8% | 31.3% |
| Vacancy Rate | 36.0% | 8.6% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Gunnison County has a homeownership rate of 42.8%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 36.0%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Gunnison County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.04 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1986 | 1984 | 1978 |
| Median Number of Rooms | 4.6 | 5.7 | 5.5 |
The typical housing unit in Gunnison County was built around 1986. On average, 2.0 people live in a home with about 4.6 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Gunnison County, Colorado.
What is the median home price in Gunnison County, Colorado?
The median home price in Gunnison County, Colorado is $705,882, higher than the Colorado average of $480,058.
What is the average home price in Gunnison 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 Gunnison County, Colorado?
The median gross rent in Gunnison County, Colorado is $1,190 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Gunnison County in 2020?
In 2020, the median gross rent in Gunnison County, Colorado was $997 per month.
What is the price-to-rent ratio in Gunnison County, Colorado?
The price-to-rent ratio in Gunnison County, Colorado is about 49.4, meaning it would take roughly 49.4 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 Gunnison County.
Are home prices or rent rising faster in Gunnison County, Colorado?
Both home prices and rent are rising in Gunnison County, up about 9.0% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Gunnison County, Colorado?
42.8% of households in Gunnison County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Gunnison County, Colorado?
The housing vacancy rate in Gunnison County, Colorado is 36.0%, higher than the Colorado average of 8.6%.