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 | Washington County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,642 | $480,058 | $242,182 |
| Price Trend (Annual %) | -3.6% | 11.8% | 8.2% |
| Median Gross Rent | $990 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 6.9% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Washington County is about 75% lower than in Colorado. Rent is about 42% 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 Washington County: home prices fell about 3.6% a year while rent rose about 6.9% a year. That is an unusual pattern worth watching.
Median rent in Washington County rose about 60.5% between 2015 and 2023, from $617 to $990. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Washington County.
Buying the median-priced home in Washington County costs roughly 10.1 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 Washington County. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Washington County | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,642 | $480,058 | $242,182 |
| Median Household Income | $64,379 | $93,055 | $78,145 |
| Price-to-Income Ratio | 1.9 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Washington County fell about 27.5%, while median household income rose about 65.8% 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 | Washington County | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.1% | 60.6% | 58.2% |
| Rental Rate | 25.7% | 30.8% | 31.3% |
| Vacancy Rate | 9.2% | 8.6% | 10.6% |
| Median Tenure (years) | 17.0 | 13.0 | 15.0 |
| Median Year Moved In | 2009 | 2013 | 2011 |
Washington County has a homeownership rate of 65.1%, higher than the Colorado average of 60.6%. Its housing vacancy rate is 9.2%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Washington County | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.25 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1965 | 1984 | 1978 |
| Median Number of Rooms | 6.1 | 5.7 | 5.5 |
The typical housing unit in Washington County was built around 1965. On average, 2.2 people live in a home with about 6.1 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Washington County, Colorado.
What is the median home price in Washington County, Colorado?
The median home price in Washington County, Colorado is $119,642, lower than the Colorado average of $480,058.
What is the average home price in Washington 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 Washington County, Colorado?
The median gross rent in Washington County, Colorado is $990 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Washington County in 2020?
In 2020, the median gross rent in Washington County, Colorado was $765 per month.
What is the price-to-rent ratio in Washington County, Colorado?
The price-to-rent ratio in Washington County, Colorado is about 10.1, meaning it would take roughly 10.1 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 Washington County.
Are home prices or rent rising faster in Washington County, Colorado?
Home prices and rent are moving in opposite directions in Washington County: home prices fell about 3.6% a year while rent rose about 6.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Washington County, Colorado?
65.1% of households in Washington County, Colorado own their home, higher than the Colorado average of 60.6%.
What is the vacancy rate in Washington County, Colorado?
The housing vacancy rate in Washington County, Colorado is 9.2%, higher than the Colorado average of 8.6%.