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 | La Plata County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $646,600 | $480,058 | $242,182 |
| Price Trend (Annual %) | 19.6% | 11.8% | 8.2% |
| Median Gross Rent | $1,408 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in La Plata County is about 35% higher than in Colorado. Rent is about 17% 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 La Plata County, up about 19.6% and 4.7% a year respectively. Home prices are changing faster.
Median rent in La Plata County rose about 43.3% between 2015 and 2023, from $983 to $1,408. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 7.6 yearly household incomes in La Plata County.
Buying the median-priced home in La Plata County costs roughly 38.3 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 La Plata County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | La Plata County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $646,600 | $480,058 | $242,182 |
| Median Household Income | $84,826 | $93,055 | $78,145 |
| Price-to-Income Ratio | 7.6 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in La Plata County rose about 230.6%, while median household income rose about 57.8% between 2009 and 2023 — 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 | La Plata County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.5% | 60.6% | 58.2% |
| Rental Rate | 23.5% | 30.8% | 31.3% |
| Vacancy Rate | 18.9% | 8.6% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
La Plata County has a homeownership rate of 57.5%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 18.9%, compared with 8.6% in Colorado.
Housing Stock
| Metric | La Plata County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1988 | 1984 | 1978 |
| Median Number of Rooms | 5.2 | 5.7 | 5.5 |
The typical housing unit in La Plata County was built around 1988. On average, 2.3 people live in a home with about 5.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in La Plata County, Colorado.
What is the median home price in La Plata County, Colorado?
The median home price in La Plata County, Colorado is $646,600, higher than the Colorado average of $480,058.
What is the average home price in La Plata 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 La Plata County, Colorado?
The median gross rent in La Plata County, Colorado is $1,408 per month, lower than the Colorado average of $1,692.
What was the median gross rent in La Plata County in 2020?
In 2020, the median gross rent in La Plata County, Colorado was $1,194 per month.
What is the price-to-rent ratio in La Plata County, Colorado?
The price-to-rent ratio in La Plata County, Colorado is about 38.3, meaning it would take roughly 38.3 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 La Plata County.
Are home prices or rent rising faster in La Plata County, Colorado?
Both home prices and rent are rising in La Plata County, up about 19.6% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in La Plata County, Colorado?
57.5% of households in La Plata County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in La Plata County, Colorado?
The housing vacancy rate in La Plata County, Colorado is 18.9%, higher than the Colorado average of 8.6%.