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 | Gooding County | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $346,250 | $355,887 | $242,182 |
| Price Trend (Annual %) | 39.9% | 14.8% | 8.2% |
| Median Gross Rent | $858 | $1,150 | $1,342 |
| Rent Trend (Annual %) | 2.2% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gooding County is about 3% lower than in Idaho. Rent is about 25% lower than the Idaho 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 Gooding County, up about 39.9% and 2.2% a year respectively. Home prices are changing faster.
Median rent in Gooding County rose about 14.4% between 2015 and 2023, from $750 to $858. Over the same span, rent in Idaho rose about 54.9%.
Affordability
On average, housing unit costs 5.5 yearly household incomes in Gooding County.
Buying the median-priced home in Gooding County costs roughly 33.6 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Gooding County. The price-to-rent ratio in Idaho is about 25.8.
| Metric | Gooding County | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $346,250 | $355,887 | $242,182 |
| Median Household Income | $62,442 | $74,676 | $78,145 |
| Price-to-Income Ratio | 5.5 | 4.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Gooding County rose about 448.2%, while median household income rose about 66.1% 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 | Gooding County | Idaho Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.5% | 64.7% | 58.2% |
| Rental Rate | 25.9% | 24.7% | 31.3% |
| Vacancy Rate | 9.6% | 10.7% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Gooding County has a homeownership rate of 64.5%, about the same as the Idaho average of 64.7%. Its housing vacancy rate is 9.6%, compared with 10.7% in Idaho.
Housing Stock
| Metric | Gooding County | Idaho Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.84 people | 2.66 people | 2.54 people |
| Median Structure Built Year | 1975 | 1987 | 1978 |
| Median Number of Rooms | 5.3 | 5.9 | 5.5 |
The typical housing unit in Gooding County was built around 1975. On average, 2.8 people live in a home with about 5.3 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Gooding County, Idaho.
What is the median home price in Gooding County, Idaho?
The median home price in Gooding County, Idaho is $346,250, lower than the Idaho average of $355,887.
What is the average home price in Gooding County, Idaho?
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 Gooding County, Idaho?
The median gross rent in Gooding County, Idaho is $858 per month, lower than the Idaho average of $1,150.
What was the median gross rent in Gooding County in 2020?
In 2020, the median gross rent in Gooding County, Idaho was $735 per month.
What is the price-to-rent ratio in Gooding County, Idaho?
The price-to-rent ratio in Gooding County, Idaho is about 33.6, meaning it would take roughly 33.6 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Gooding County.
Are home prices or rent rising faster in Gooding County, Idaho?
Both home prices and rent are rising in Gooding County, up about 39.9% and 2.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Gooding County, Idaho?
64.5% of households in Gooding County, Idaho own their home, about the same as the Idaho average.
What is the vacancy rate in Gooding County, Idaho?
The housing vacancy rate in Gooding County, Idaho is 9.6%, lower than the Idaho average of 10.7%.