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 | Routt County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $430,898 | $480,058 | $242,182 |
| Price Trend (Annual %) | 8.3% | 11.8% | 8.2% |
| Median Gross Rent | $1,845 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 7.1% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Routt County is about 10% lower than in Colorado. Rent is about 9% higher 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 Routt County, up about 8.3% and 7.1% a year respectively. Home prices are changing faster.
Median rent in Routt County rose about 62.3% between 2015 and 2023, from $1,137 to $1,845. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Routt County.
Buying the median-priced home in Routt County costs roughly 19.5 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 Routt County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Routt County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $430,898 | $480,058 | $242,182 |
| Median Household Income | $103,670 | $93,055 | $78,145 |
| Price-to-Income Ratio | 4.2 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Routt County rose about 226.4%, while median household income rose about 61.4% 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 | Routt County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.6% | 60.6% | 58.2% |
| Rental Rate | 15.1% | 30.8% | 31.3% |
| Vacancy Rate | 37.2% | 8.6% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Routt County has a homeownership rate of 47.6%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 37.2%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Routt County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.31 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1991 | 1984 | 1978 |
| Median Number of Rooms | 5.2 | 5.7 | 5.5 |
The typical housing unit in Routt County was built around 1991. On average, 2.3 people live in a home with about 5.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Routt County, Colorado.
What is the median home price in Routt County, Colorado?
The median home price in Routt County, Colorado is $430,898, lower than the Colorado average of $480,058.
What is the average home price in Routt 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 Routt County, Colorado?
The median gross rent in Routt County, Colorado is $1,845 per month, higher than the Colorado average of $1,692.
What was the median gross rent in Routt County in 2020?
In 2020, the median gross rent in Routt County, Colorado was $1,364 per month.
What is the price-to-rent ratio in Routt County, Colorado?
The price-to-rent ratio in Routt County, Colorado is about 19.5, meaning it would take roughly 19.5 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 Routt County.
Are home prices or rent rising faster in Routt County, Colorado?
Both home prices and rent are rising in Routt County, up about 8.3% and 7.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Routt County, Colorado?
47.6% of households in Routt County, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Routt County, Colorado?
The housing vacancy rate in Routt County, Colorado is 37.2%, higher than the Colorado average of 8.6%.