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 | Larimer County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $529,902 | $480,058 | $242,182 |
| Price Trend (Annual %) | 11.2% | 11.8% | 8.2% |
| Median Gross Rent | $1,676 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 6.6% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Larimer County is about 10% higher than in Colorado. Rent is about 1% 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 Larimer County, up about 11.2% and 6.6% a year respectively. Home prices are changing faster.
Median rent in Larimer County rose about 62.0% between 2015 and 2023, from $1,035 to $1,676. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 5.8 yearly household incomes in Larimer County.
Buying the median-priced home in Larimer County costs roughly 26.3 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 Larimer County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Larimer County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $529,902 | $480,058 | $242,182 |
| Median Household Income | $90,777 | $93,055 | $78,145 |
| Price-to-Income Ratio | 5.8 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Larimer County rose about 144.0%, while median household income rose about 65.1% 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 | Larimer County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.2% | 60.6% | 58.2% |
| Rental Rate | 33.4% | 30.8% | 31.3% |
| Vacancy Rate | 6.4% | 8.6% | 10.6% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Larimer County has a homeownership rate of 60.2%, about the same as the Colorado average of 60.6%. Its housing vacancy rate is 6.4%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Larimer County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1991 | 1984 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Larimer County was built around 1991. On average, 2.3 people live in a home with about 6.0 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Larimer County, Colorado.
What is the median home price in Larimer County, Colorado?
The median home price in Larimer County, Colorado is $529,902, higher than the Colorado average of $480,058.
What is the average home price in Larimer 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 Larimer County, Colorado?
The median gross rent in Larimer County, Colorado is $1,676 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Larimer County in 2020?
In 2020, the median gross rent in Larimer County, Colorado was $1,340 per month.
What is the price-to-rent ratio in Larimer County, Colorado?
The price-to-rent ratio in Larimer County, Colorado is about 26.3, meaning it would take roughly 26.3 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 Larimer County.
Are home prices or rent rising faster in Larimer County, Colorado?
Both home prices and rent are rising in Larimer County, up about 11.2% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Larimer County, Colorado?
60.2% of households in Larimer County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Larimer County, Colorado?
The housing vacancy rate in Larimer County, Colorado is 6.4%, lower than the Colorado average of 8.6%.