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 | Carbon County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $348,327 | $457,939 | $242,182 |
| Price Trend (Annual %) | 19.8% | 11.6% | 8.2% |
| Median Gross Rent | $828 | $1,405 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Carbon County is about 24% lower than in Utah. Rent is about 41% lower than the Utah 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 Carbon County, up about 19.8% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Carbon County rose about 33.9% between 2015 and 2023, from $618 to $828. Over the same span, rent in Utah rose about 58.6%.
Affordability
On average, housing unit costs 6.3 yearly household incomes in Carbon County.
Buying the median-priced home in Carbon County costs roughly 35.1 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 Carbon County. The price-to-rent ratio in Utah is about 27.2.
| Metric | Carbon County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $348,327 | $457,939 | $242,182 |
| Median Household Income | $54,992 | $92,351 | $78,145 |
| Price-to-Income Ratio | 6.3 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Carbon County rose about 121.1%, while median household income rose about 34.5% 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 | Carbon County | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.8% | 64.8% | 58.2% |
| Rental Rate | 26.6% | 26.9% | 31.3% |
| Vacancy Rate | 16.7% | 8.2% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Carbon County has a homeownership rate of 56.8%, lower than the Utah average of 64.8%. Its housing vacancy rate is 16.7%, compared with 8.2% in Utah.
Housing Stock
| Metric | Carbon County | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.99 people | 2.54 people |
| Median Structure Built Year | 1966 | 1988 | 1978 |
| Median Number of Rooms | 5.8 | 6.4 | 5.5 |
The typical housing unit in Carbon County was built around 1966. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Carbon County, Utah.
What is the median home price in Carbon County, Utah?
The median home price in Carbon County, Utah is $348,327, lower than the Utah average of $457,939.
What is the average home price in Carbon 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 Carbon County, Utah?
The median gross rent in Carbon County, Utah is $828 per month, lower than the Utah average of $1,405.
What was the median gross rent in Carbon County in 2020?
In 2020, the median gross rent in Carbon County, Utah was $680 per month.
What is the price-to-rent ratio in Carbon County, Utah?
The price-to-rent ratio in Carbon County, Utah is about 35.1, meaning it would take roughly 35.1 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 Carbon County.
Are home prices or rent rising faster in Carbon County, Utah?
Both home prices and rent are rising in Carbon County, up about 19.8% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Carbon County, Utah?
56.8% of households in Carbon County, Utah own their home, lower than the Utah average of 64.8%.
What is the vacancy rate in Carbon County, Utah?
The housing vacancy rate in Carbon County, Utah is 16.7%, higher than the Utah average of 8.2%.