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.
Housing Market Overview
| Metric | Rexburg | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $243,423 | $355,887 | $242,182 |
| Price Trend (Annual %) | 6.8% | 14.8% | 8.2% |
| Median Gross Rent | $956 | $1,150 | $1,342 |
| Rent Trend (Annual %) | 5.6% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rexburg is about 32% lower than in Idaho. Rent is about 17% 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 Rexburg, up about 6.8% and 5.6% a year respectively. Home prices are changing faster.
Median rent in Rexburg rose about 49.6% between 2015 and 2023, from $639 to $956. Over the same span, rent in Idaho rose about 54.9%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Rexburg.
Buying the median-priced home in Rexburg costs roughly 21.2 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 Rexburg. The price-to-rent ratio in Idaho is about 25.8.
| Metric | Rexburg | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $243,423 | $355,887 | $242,182 |
| Median Household Income | $48,861 | $74,676 | $78,145 |
| Price-to-Income Ratio | 5.0 | 4.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Rexburg rose about 69.1%, while median household income rose about 82.4% 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 | Rexburg | Idaho Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 16.6% | 64.7% | 58.2% |
| Rental Rate | 68.8% | 24.7% | 31.3% |
| Vacancy Rate | 14.6% | 10.7% | 10.6% |
| Median Tenure (years) | 6.0 | 14.0 | 15.0 |
| Median Year Moved In | 2020 | 2012 | 2011 |
Rexburg has a homeownership rate of 16.6%, lower than the Idaho average of 64.7%. Its housing vacancy rate is 14.6%, compared with 10.7% in Idaho.
Housing Stock
| Metric | Rexburg | Idaho Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.28 people | 2.66 people | 2.54 people |
| Median Structure Built Year | 2000 | 1987 | 1978 |
| Median Number of Rooms | 4.2 | 5.9 | 5.5 |
The typical housing unit in Rexburg was built around 2000. On average, 3.3 people live in a home with about 4.2 rooms, staying for about 6.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rexburg, Idaho.
What is the median home price in Rexburg, Idaho?
The median home price in Rexburg, Idaho is $243,423, lower than the Idaho average of $355,887.
What is the average home price in Rexburg, 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 Rexburg, Idaho?
The median gross rent in Rexburg, Idaho is $956 per month, lower than the Idaho average of $1,150.
What was the median gross rent in Rexburg in 2020?
In 2020, the median gross rent in Rexburg, Idaho was $775 per month.
What is the price-to-rent ratio in Rexburg, Idaho?
The price-to-rent ratio in Rexburg, Idaho is about 21.2, meaning it would take roughly 21.2 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 Rexburg.
Are home prices or rent rising faster in Rexburg, Idaho?
Both home prices and rent are rising in Rexburg, up about 6.8% and 5.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Rexburg, Idaho?
16.6% of households in Rexburg, Idaho own their home, lower than the Idaho average of 64.7%.
What is the vacancy rate in Rexburg, Idaho?
The housing vacancy rate in Rexburg, Idaho is 14.6%, higher than the Idaho average of 10.7%.