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 | Valley County | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $250,000 | $355,887 | $242,182 |
| Price Trend (Annual %) | 21.7% | 14.8% | 8.2% |
| Median Gross Rent | $1,011 | $1,150 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Valley County is about 30% lower than in Idaho. Rent is about 12% 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 Valley County, up about 21.7% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Valley County rose about 32.7% between 2015 and 2023, from $762 to $1,011. Over the same span, rent in Idaho rose about 54.9%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Valley County.
Buying the median-priced home in Valley County costs roughly 20.6 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 Valley County. The price-to-rent ratio in Idaho is about 25.8.
| Metric | Valley County | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $250,000 | $355,887 | $242,182 |
| Median Household Income | $77,377 | $74,676 | $78,145 |
| Price-to-Income Ratio | 3.2 | 4.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Valley County rose about 164.3%, while median household income rose about 46.9% 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 | Valley County | Idaho Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 25.7% | 64.7% | 58.2% |
| Rental Rate | 4.3% | 24.7% | 31.3% |
| Vacancy Rate | 70.0% | 10.7% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Valley County has a homeownership rate of 25.7%, lower than the Idaho average of 64.7%. Its housing vacancy rate is 70.0%, compared with 10.7% in Idaho.
Housing Stock
| Metric | Valley County | Idaho Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.15 people | 2.66 people | 2.54 people |
| Median Structure Built Year | 1993 | 1987 | 1978 |
| Median Number of Rooms | 5.1 | 5.9 | 5.5 |
The typical housing unit in Valley County was built around 1993. On average, 3.1 people live in a home with about 5.1 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Valley County, Idaho.
What is the median home price in Valley County, Idaho?
The median home price in Valley County, Idaho is $250,000, lower than the Idaho average of $355,887.
What is the average home price in Valley 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 Valley County, Idaho?
The median gross rent in Valley County, Idaho is $1,011 per month, lower than the Idaho average of $1,150.
What was the median gross rent in Valley County in 2020?
In 2020, the median gross rent in Valley County, Idaho was $850 per month.
What is the price-to-rent ratio in Valley County, Idaho?
The price-to-rent ratio in Valley County, Idaho is about 20.6, meaning it would take roughly 20.6 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 Valley County.
Are home prices or rent rising faster in Valley County, Idaho?
Both home prices and rent are rising in Valley County, up about 21.7% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Valley County, Idaho?
25.7% of households in Valley County, Idaho own their home, lower than the Idaho average of 64.7%.
What is the vacancy rate in Valley County, Idaho?
The housing vacancy rate in Valley County, Idaho is 70.0%, higher than the Idaho average of 10.7%.