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 | Teller County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $298,076 | $480,058 | $242,182 |
| Price Trend (Annual %) | 6.8% | 11.8% | 8.2% |
| Median Gross Rent | $1,746 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 8.2% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Teller County is about 38% lower than in Colorado. Rent is about 3% 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 Teller County, up about 6.8% and 8.2% a year respectively. Rent is changing faster.
Median rent in Teller County rose about 77.3% between 2015 and 2023, from $984 to $1,746. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Teller County.
Buying the median-priced home in Teller County costs roughly 14.2 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 Teller County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Teller County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $298,076 | $480,058 | $242,182 |
| Median Household Income | $80,045 | $93,055 | $78,145 |
| Price-to-Income Ratio | 3.7 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Teller County rose about 54.7%, while median household income rose about 38.6% 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 | Teller County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.4% | 60.6% | 58.2% |
| Rental Rate | 14.8% | 30.8% | 31.3% |
| Vacancy Rate | 16.7% | 8.6% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Teller County has a homeownership rate of 68.4%, higher than the Colorado average of 60.6%. Its housing vacancy rate is 16.7%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Teller County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.19 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1985 | 1984 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Teller County was built around 1985. On average, 2.2 people live in a home with about 5.7 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Teller County, Colorado.
What is the median home price in Teller County, Colorado?
The median home price in Teller County, Colorado is $298,076, lower than the Colorado average of $480,058.
What is the average home price in Teller 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 Teller County, Colorado?
The median gross rent in Teller County, Colorado is $1,746 per month, higher than the Colorado average of $1,692.
What was the median gross rent in Teller County in 2020?
In 2020, the median gross rent in Teller County, Colorado was $1,107 per month.
What is the price-to-rent ratio in Teller County, Colorado?
The price-to-rent ratio in Teller County, Colorado is about 14.2, meaning it would take roughly 14.2 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 Teller County.
Are home prices or rent rising faster in Teller County, Colorado?
Both home prices and rent are rising in Teller County, up about 6.8% and 8.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Teller County, Colorado?
68.4% of households in Teller County, Colorado own their home, higher than the Colorado average of 60.6%.
What is the vacancy rate in Teller County, Colorado?
The housing vacancy rate in Teller County, Colorado is 16.7%, higher than the Colorado average of 8.6%.