Otero County, Colorado Housing Market Prices
Otero County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 36% below the Colorado median$309,184
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Median rent 52% below the Colorado median Cheaper than 89% of counties in Colorado$839
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Otero County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $309,184 | $484,034 | $248,835 |
| Price Trend (Annual %) | 10.4% | 10.4% | 7.5% |
| Median Gross Rent | $839 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 3.3% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Otero County is about 36% lower than in Colorado. Rent is about 52% lower than the Colorado average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Otero County, up about 10.4% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Otero County rose about 28.2% between 2015 and 2024, from $655 to $839. Over the same span, rent in Colorado rose about 75.6%.
Affordability
On average, housing unit costs 5.7 yearly household incomes in Otero County.
Buying the median-priced home in Otero County costs roughly 30.7 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 Otero County. The price-to-rent ratio in Colorado is about 22.9.
| Metric | Otero County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $309,184 | $484,034 | $248,835 |
| Median Household Income | $54,410 | $95,803 | $80,455 |
| Price-to-Income Ratio | 5.7 | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Otero County rose about 112.8%, while median household income rose about 54.3% between 2009 and 2025 — 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 | Otero County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.8% | 60.7% | 58.5% |
| Rental Rate | 26.9% | 31.0% | 31.2% |
| Vacancy Rate | 13.3% | 8.3% | 10.2% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Otero County has a homeownership rate of 59.8%, lower than the Colorado average of 60.7%. Its housing vacancy rate is 13.3%, compared with 8.3% in Colorado.
Housing Stock
| Metric | Otero County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1962 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Otero County was built around 1962. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 14.0 years on average.
Otero County, CO Housing Compared With Nearby Counties
How Otero County, CO compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Otero County, CO | 18,321 | $309,184 #1/2 | $839 #2/2 | 68.9% #1/2 |
| Pueblo County, CO | 169,356 | $228,671 | $1,110 | 68.9% |
Frequently Asked Questions
Common questions about the housing market in Otero County, Colorado.
What is the median home price in Otero County, Colorado?
The median home price in Otero County, Colorado is $309,184, lower than the Colorado average of $484,034.
What is the average home price in Otero County, Colorado?
The typical home price in Otero County, Colorado, reported as the median sale price, is $309,184. 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 Otero County, Colorado?
The median gross rent in Otero County, Colorado is $839 per month, lower than the Colorado average of $1,761.
What was the median gross rent in Otero County in 2020?
In 2020, the median gross rent in Otero County, Colorado was $686 per month.
What is the price-to-rent ratio in Otero County, Colorado?
The price-to-rent ratio in Otero County, Colorado is about 30.7, meaning it would take roughly 30.7 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 Otero County.
Are home prices or rent rising faster in Otero County, Colorado?
Both home prices and rent are rising in Otero County, up about 10.4% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Otero County, Colorado?
59.8% of households in Otero County, Colorado own their home, lower than the Colorado average of 60.7%.
What is the vacancy rate in Otero County, Colorado?
The housing vacancy rate in Otero County, Colorado is 13.3%, higher than the Colorado average of 8.3%.
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