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.
Housing Market Overview
| Metric | Pueblo West | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $285,448 | $480,058 | $242,182 |
| Price Trend (Annual %) | 9.4% | 11.8% | 8.2% |
| Median Gross Rent | $1,296 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 5.4% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pueblo West is about 41% lower than in Colorado. Rent is about 23% 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 Pueblo West, up about 9.4% and 5.4% a year respectively. Home prices are changing faster.
Median rent in Pueblo West rose about 44.2% between 2015 and 2023, from $898 to $1,296. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Pueblo West.
Buying the median-priced home in Pueblo West costs roughly 18.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Pueblo West. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Pueblo West | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $285,448 | $480,058 | $242,182 |
| Median Household Income | $89,867 | $93,055 | $78,145 |
| Price-to-Income Ratio | 3.2 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pueblo West rose about 59.8%, while median household income rose about 54.4% 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 | Pueblo West | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 79.0% | 60.6% | 58.2% |
| Rental Rate | 17.9% | 30.8% | 31.3% |
| Vacancy Rate | 3.1% | 8.6% | 10.6% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Pueblo West has a homeownership rate of 79.0%, higher than the Colorado average of 60.6%. Its housing vacancy rate is 3.1%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Pueblo West | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.82 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1998 | 1984 | 1978 |
| Median Number of Rooms | 6.4 | 5.7 | 5.5 |
The typical housing unit in Pueblo West was built around 1998. On average, 2.8 people live in a home with about 6.4 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pueblo West, Colorado.
What is the median home price in Pueblo West, Colorado?
The median home price in Pueblo West, Colorado is $285,448, lower than the Colorado average of $480,058.
What is the average home price in Pueblo West, 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 Pueblo West, Colorado?
The median gross rent in Pueblo West, Colorado is $1,296 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Pueblo West in 2020?
In 2020, the median gross rent in Pueblo West, Colorado was $1,056 per month.
What is the price-to-rent ratio in Pueblo West, Colorado?
The price-to-rent ratio in Pueblo West, Colorado is about 18.4, meaning it would take roughly 18.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Pueblo West.
Are home prices or rent rising faster in Pueblo West, Colorado?
Both home prices and rent are rising in Pueblo West, up about 9.4% and 5.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pueblo West, Colorado?
79.0% of households in Pueblo West, Colorado own their home, higher than the Colorado average of 60.6%.
What is the vacancy rate in Pueblo West, Colorado?
The housing vacancy rate in Pueblo West, Colorado is 3.1%, lower than the Colorado average of 8.6%.