Colorado Housing Market Prices
Colorado 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.
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Median home price 95% above the US median More expensive than 88% of states in US$484,034
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Median rent 25% above the US median Among the 5 most expensive states in US$1,761
Median Home Price Map: Counties in Colorado
Housing Market Overview
| Metric | Colorado | US Average |
|---|---|---|
| Median Home Price | $484,034 | $248,835 |
| Price Trend (Annual %) | 10.4% | 7.5% |
| Median Gross Rent | $1,761 | $1,407 |
| Rent Trend (Annual %) | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Colorado is about 95% higher than in US. Rent is about 25% higher than the US 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 Colorado, up about 10.4% and 6.6% a year respectively. Home prices are changing faster.
Median rent in Colorado rose about 75.6% between 2015 and 2024, from $1,002 to $1,761. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 5.1 yearly household incomes in Colorado.
Buying the median-priced home in Colorado costs roughly 22.9 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 Colorado. The price-to-rent ratio in US is about 14.7.
| Metric | Colorado | US Average |
|---|---|---|
| Median Home Price | $484,034 | $248,835 |
| Median Household Income | $95,803 | $80,455 |
| Price-to-Income Ratio | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Colorado rose about 137.8%, while median household income rose about 63.8% 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 | Colorado | US Average |
|---|---|---|
| Homeownership Rate | 60.7% | 58.5% |
| Rental Rate | 31.0% | 31.2% |
| Vacancy Rate | 8.3% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 |
Colorado has a homeownership rate of 60.7%, higher than the US average of 58.5%. Its housing vacancy rate is 8.3%, compared with 10.2% in US.
Housing Stock
| Metric | Colorado | US Average |
|---|---|---|
| Average Household Size | 2.42 people | 2.53 people |
| Median Structure Built Year | 1985 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 |
The typical housing unit in Colorado was built around 1985. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 13.0 years on average.
Colorado Housing Compared With Nearby States
Colorado is the largest of the 6 states compared here, 5,842,429 residents against a local median of 2,118,085. Colorado's median home price, at $484,034, runs 137% above the $204,122 typical of the states around it.
Median rent tells the same story from another angle: $1,761 against a local median of $1,067, 65% above it. The states themselves spread $393,908 on median home price, so Colorado sits at one end of an already wide local range rather than apart from it. Colorado has the 2nd highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Colorado | 5,842,429 | $484,034 #2/6 | $1,761 #1/6 | 66.2% #6/6 |
| Wyoming | 582,314 | $262,084 | $991 | 71.8% |
| New Mexico | 2,118,085 | $204,122 | $1,067 | 70.0% |
| Utah | 3,390,702 | $498,552 | $1,495 | 70.3% |
| Nebraska | 1,978,686 | $175,282 | $1,071 | 66.5% |
| Kansas | 2,945,842 | $104,644 | $1,060 | 67.1% |
Frequently Asked Questions
Common questions about the housing market in Colorado.
What is the median home price in Colorado?
The median home price in Colorado is $484,034, higher than the US average of $248,835.
What is the average home price in Colorado?
The typical home price in Colorado, reported as the median sale price, is $484,034. 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 Colorado?
The median gross rent in Colorado is $1,761 per month, higher than the US average of $1,407.
What was the median gross rent in Colorado in 2020?
In 2020, the median gross rent in Colorado was $1,334 per month.
What is the price-to-rent ratio in Colorado?
The price-to-rent ratio in Colorado is about 22.9, meaning it would take roughly 22.9 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 Colorado.
Are home prices or rent rising faster in Colorado?
Both home prices and rent are rising in Colorado, up about 10.4% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Colorado?
60.7% of households in Colorado own their home, higher than the US average of 58.5%.
What is the vacancy rate in Colorado?
The housing vacancy rate in Colorado is 8.3%, lower than the US average of 10.2%.
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