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 | Box Elder County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $24,090 | $457,939 | $242,182 |
| Price Trend (Annual %) | -1.8% | 11.6% | 8.2% |
| Median Gross Rent | $1,028 | $1,405 | $1,342 |
| Rent Trend (Annual %) | 6.0% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Box Elder County is about 95% lower than in Utah. Rent is about 27% lower than the Utah 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 Box Elder County: home prices fell about 1.8% a year while rent rose about 6.0% a year. That is an unusual pattern worth watching.
Median rent in Box Elder County rose about 53.0% between 2015 and 2023, from $672 to $1,028. Over the same span, rent in Utah rose about 58.6%.
Affordability
On average, housing unit costs 0.3 yearly household incomes in Box Elder County.
Buying the median-priced home in Box Elder County costs roughly 2.0 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 Box Elder County. The price-to-rent ratio in Utah is about 27.2.
| Metric | Box Elder County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $24,090 | $457,939 | $242,182 |
| Median Household Income | $77,988 | $92,351 | $78,145 |
| Price-to-Income Ratio | 0.3 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Box Elder County fell about 78.4%, while median household income rose about 41.0% 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 | Box Elder County | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.5% | 64.8% | 58.2% |
| Rental Rate | 22.9% | 26.9% | 31.3% |
| Vacancy Rate | 5.6% | 8.2% | 10.6% |
| Median Tenure (years) | 16.0 | 13.0 | 15.0 |
| Median Year Moved In | 2010 | 2013 | 2011 |
Box Elder County has a homeownership rate of 71.5%, higher than the Utah average of 64.8%. Its housing vacancy rate is 5.6%, compared with 8.2% in Utah.
Housing Stock
| Metric | Box Elder County | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.10 people | 2.99 people | 2.54 people |
| Median Structure Built Year | 1985 | 1988 | 1978 |
| Median Number of Rooms | 6.9 | 6.4 | 5.5 |
The typical housing unit in Box Elder County was built around 1985. On average, 3.1 people live in a home with about 6.9 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Box Elder County, Utah.
What is the median home price in Box Elder County, Utah?
The median home price in Box Elder County, Utah is $24,090, lower than the Utah average of $457,939.
What is the average home price in Box Elder County, Utah?
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 Box Elder County, Utah?
The median gross rent in Box Elder County, Utah is $1,028 per month, lower than the Utah average of $1,405.
What was the median gross rent in Box Elder County in 2020?
In 2020, the median gross rent in Box Elder County, Utah was $779 per month.
What is the price-to-rent ratio in Box Elder County, Utah?
The price-to-rent ratio in Box Elder County, Utah is about 2.0, meaning it would take roughly 2.0 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 Box Elder County.
Are home prices or rent rising faster in Box Elder County, Utah?
Home prices and rent are moving in opposite directions in Box Elder County: home prices fell about 1.8% a year while rent rose about 6.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Box Elder County, Utah?
71.5% of households in Box Elder County, Utah own their home, higher than the Utah average of 64.8%.
What is the vacancy rate in Box Elder County, Utah?
The housing vacancy rate in Box Elder County, Utah is 5.6%, lower than the Utah average of 8.2%.