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 | Rio Blanco County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $150,000 | $480,058 | $242,182 |
| Price Trend (Annual %) | -3.0% | 11.8% | 8.2% |
| Median Gross Rent | $924 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 2.9% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rio Blanco County is about 69% lower than in Colorado. Rent is about 45% lower than the Colorado average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Rio Blanco County: home prices fell about 3.0% a year while rent rose about 2.9% a year. That is an unusual pattern worth watching.
Median rent in Rio Blanco County rose about 20.9% between 2015 and 2023, from $764 to $924. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Rio Blanco County.
Buying the median-priced home in Rio Blanco County costs roughly 13.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Rio Blanco County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Rio Blanco County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $150,000 | $480,058 | $242,182 |
| Median Household Income | $71,301 | $93,055 | $78,145 |
| Price-to-Income Ratio | 2.1 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Rio Blanco County fell about 13.8%, while median household income rose about 28.9% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Rio Blanco County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.7% | 60.6% | 58.2% |
| Rental Rate | 19.0% | 30.8% | 31.3% |
| Vacancy Rate | 21.3% | 8.6% | 10.6% |
| Median Tenure (years) | 16.0 | 13.0 | 15.0 |
| Median Year Moved In | 2010 | 2013 | 2011 |
Rio Blanco County has a homeownership rate of 59.7%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 21.3%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Rio Blanco County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1985 | 1984 | 1978 |
| Median Number of Rooms | 6.1 | 5.7 | 5.5 |
The typical housing unit in Rio Blanco County was built around 1985. On average, 2.4 people live in a home with about 6.1 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rio Blanco County, Colorado.
What is the median home price in Rio Blanco County, Colorado?
The median home price in Rio Blanco County, Colorado is $150,000, lower than the Colorado average of $480,058.
What is the average home price in Rio Blanco 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 Rio Blanco County, Colorado?
The median gross rent in Rio Blanco County, Colorado is $924 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Rio Blanco County in 2020?
In 2020, the median gross rent in Rio Blanco County, Colorado was $765 per month.
What is the price-to-rent ratio in Rio Blanco County, Colorado?
The price-to-rent ratio in Rio Blanco County, Colorado is about 13.5, meaning it would take roughly 13.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Rio Blanco County.
Are home prices or rent rising faster in Rio Blanco County, Colorado?
Home prices and rent are moving in opposite directions in Rio Blanco County: home prices fell about 3.0% a year while rent rose about 2.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Rio Blanco County, Colorado?
59.7% of households in Rio Blanco County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Rio Blanco County, Colorado?
The housing vacancy rate in Rio Blanco County, Colorado is 21.3%, higher than the Colorado average of 8.6%.