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 | Lincoln County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $458,333 | $480,058 | $242,182 |
| Price Trend (Annual %) | 34.8% | 11.8% | 8.2% |
| Median Gross Rent | $854 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 2.1% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lincoln County is about 5% lower than in Colorado. Rent is about 50% 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 Lincoln County, up about 34.8% and 2.1% a year respectively. Home prices are changing faster.
Median rent in Lincoln County rose about 21.2% between 2015 and 2023, from $704 to $854. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 8.1 yearly household incomes in Lincoln County.
Buying the median-priced home in Lincoln County costs roughly 44.7 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 Lincoln County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Lincoln County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $458,333 | $480,058 | $242,182 |
| Median Household Income | $56,511 | $93,055 | $78,145 |
| Price-to-Income Ratio | 8.1 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lincoln County rose about 252.9%, while median household income rose about 43.0% 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 | Lincoln County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.7% | 60.6% | 58.2% |
| Rental Rate | 23.9% | 30.8% | 31.3% |
| Vacancy Rate | 17.4% | 8.6% | 10.6% |
| Median Tenure (years) | 16.0 | 13.0 | 15.0 |
| Median Year Moved In | 2010 | 2013 | 2011 |
Lincoln County has a homeownership rate of 58.7%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 17.4%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Lincoln County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.22 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1970 | 1984 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Lincoln County was built around 1970. On average, 2.2 people live in a home with about 6.0 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lincoln County, Colorado.
What is the median home price in Lincoln County, Colorado?
The median home price in Lincoln County, Colorado is $458,333, lower than the Colorado average of $480,058.
What is the average home price in Lincoln 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 Lincoln County, Colorado?
The median gross rent in Lincoln County, Colorado is $854 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Lincoln County in 2020?
In 2020, the median gross rent in Lincoln County, Colorado was $743 per month.
What is the price-to-rent ratio in Lincoln County, Colorado?
The price-to-rent ratio in Lincoln County, Colorado is about 44.7, meaning it would take roughly 44.7 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 Lincoln County.
Are home prices or rent rising faster in Lincoln County, Colorado?
Both home prices and rent are rising in Lincoln County, up about 34.8% and 2.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lincoln County, Colorado?
58.7% of households in Lincoln County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Lincoln County, Colorado?
The housing vacancy rate in Lincoln County, Colorado is 17.4%, higher than the Colorado average of 8.6%.