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 | Las Animas County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $212,500 | $480,058 | $242,182 |
| Price Trend (Annual %) | 13.5% | 11.8% | 8.2% |
| Median Gross Rent | $874 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Las Animas County is about 56% lower than in Colorado. Rent is about 48% 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 Las Animas County, up about 13.5% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Las Animas County rose about 15.7% between 2015 and 2023, from $755 to $874. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Las Animas County.
Buying the median-priced home in Las Animas County costs roughly 20.3 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 Las Animas County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Las Animas County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $212,500 | $480,058 | $242,182 |
| Median Household Income | $50,480 | $93,055 | $78,145 |
| Price-to-Income Ratio | 4.2 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Las Animas County rose about 50.3%, while median household income rose about 34.7% 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 | Las Animas County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.8% | 60.6% | 58.2% |
| Rental Rate | 24.6% | 30.8% | 31.3% |
| Vacancy Rate | 17.6% | 8.6% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Las Animas County has a homeownership rate of 57.8%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 17.6%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Las Animas County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.03 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1969 | 1984 | 1978 |
| Median Number of Rooms | 5.3 | 5.7 | 5.5 |
The typical housing unit in Las Animas County was built around 1969. On average, 2.0 people live in a home with about 5.3 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Las Animas County, Colorado.
What is the median home price in Las Animas County, Colorado?
The median home price in Las Animas County, Colorado is $212,500, lower than the Colorado average of $480,058.
What is the average home price in Las Animas 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 Las Animas County, Colorado?
The median gross rent in Las Animas County, Colorado is $874 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Las Animas County in 2020?
In 2020, the median gross rent in Las Animas County, Colorado was $721 per month.
What is the price-to-rent ratio in Las Animas County, Colorado?
The price-to-rent ratio in Las Animas County, Colorado is about 20.3, meaning it would take roughly 20.3 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 Las Animas County.
Are home prices or rent rising faster in Las Animas County, Colorado?
Both home prices and rent are rising in Las Animas County, up about 13.5% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Las Animas County, Colorado?
57.8% of households in Las Animas County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Las Animas County, Colorado?
The housing vacancy rate in Las Animas County, Colorado is 17.6%, higher than the Colorado average of 8.6%.