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 | Mesa County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $346,470 | $480,058 | $242,182 |
| Price Trend (Annual %) | 12.2% | 11.8% | 8.2% |
| Median Gross Rent | $1,153 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 4.1% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mesa County is about 28% lower than in Colorado. Rent is about 32% 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 Mesa County, up about 12.2% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Mesa County rose about 37.8% between 2015 and 2023, from $837 to $1,153. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 4.9 yearly household incomes in Mesa County.
Buying the median-priced home in Mesa County costs roughly 25.0 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 Mesa County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Mesa County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $346,470 | $480,058 | $242,182 |
| Median Household Income | $70,777 | $93,055 | $78,145 |
| Price-to-Income Ratio | 4.9 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Mesa County rose about 151.0%, while median household income rose about 39.5% 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 | Mesa County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.4% | 60.6% | 58.2% |
| Rental Rate | 26.4% | 30.8% | 31.3% |
| Vacancy Rate | 6.2% | 8.6% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Mesa County has a homeownership rate of 67.4%, higher than the Colorado average of 60.6%. Its housing vacancy rate is 6.2%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Mesa County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.37 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1985 | 1984 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Mesa County was built around 1985. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mesa County, Colorado.
What is the median home price in Mesa County, Colorado?
The median home price in Mesa County, Colorado is $346,470, lower than the Colorado average of $480,058.
What is the average home price in Mesa 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 Mesa County, Colorado?
The median gross rent in Mesa County, Colorado is $1,153 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Mesa County in 2020?
In 2020, the median gross rent in Mesa County, Colorado was $962 per month.
What is the price-to-rent ratio in Mesa County, Colorado?
The price-to-rent ratio in Mesa County, Colorado is about 25.0, meaning it would take roughly 25.0 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 Mesa County.
Are home prices or rent rising faster in Mesa County, Colorado?
Both home prices and rent are rising in Mesa County, up about 12.2% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mesa County, Colorado?
67.4% of households in Mesa County, Colorado own their home, higher than the Colorado average of 60.6%.
What is the vacancy rate in Mesa County, Colorado?
The housing vacancy rate in Mesa County, Colorado is 6.2%, lower than the Colorado average of 8.6%.