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 | Garfield County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $252,940 | $457,939 | $242,182 |
| Price Trend (Annual %) | 7.8% | 11.6% | 8.2% |
| Median Gross Rent | $780 | $1,405 | $1,342 |
| Rent Trend (Annual %) | 0.6% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Garfield County is about 45% lower than in Utah. Rent is about 44% 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 Garfield County, up about 7.8% and 0.6% a year respectively. Home prices are changing faster.
Median rent in Garfield County rose about 23.3% between 2015 and 2023, from $633 to $780. Over the same span, rent in Utah rose about 58.6%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Garfield County.
Buying the median-priced home in Garfield County costs roughly 27.0 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 Garfield County. The price-to-rent ratio in Utah is about 27.2.
| Metric | Garfield County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $252,940 | $457,939 | $242,182 |
| Median Household Income | $60,988 | $92,351 | $78,145 |
| Price-to-Income Ratio | 4.1 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Garfield County rose about 57.3%, while median household income rose about 35.8% 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 | Garfield County | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.5% | 64.8% | 58.2% |
| Rental Rate | 15.0% | 26.9% | 31.3% |
| Vacancy Rate | 43.5% | 8.2% | 10.6% |
| Median Tenure (years) | 16.0 | 13.0 | 15.0 |
| Median Year Moved In | 2010 | 2013 | 2011 |
Garfield County has a homeownership rate of 41.5%, lower than the Utah average of 64.8%. Its housing vacancy rate is 43.5%, compared with 8.2% in Utah.
Housing Stock
| Metric | Garfield County | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.99 people | 2.54 people |
| Median Structure Built Year | 1981 | 1988 | 1978 |
| Median Number of Rooms | 5.6 | 6.4 | 5.5 |
The typical housing unit in Garfield County was built around 1981. On average, 2.4 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Garfield County, Utah.
What is the median home price in Garfield County, Utah?
The median home price in Garfield County, Utah is $252,940, lower than the Utah average of $457,939.
What is the average home price in Garfield 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 Garfield County, Utah?
The median gross rent in Garfield County, Utah is $780 per month, lower than the Utah average of $1,405.
What was the median gross rent in Garfield County in 2020?
In 2020, the median gross rent in Garfield County, Utah was $715 per month.
What is the price-to-rent ratio in Garfield County, Utah?
The price-to-rent ratio in Garfield County, Utah is about 27.0, meaning it would take roughly 27.0 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 Garfield County.
Are home prices or rent rising faster in Garfield County, Utah?
Both home prices and rent are rising in Garfield County, up about 7.8% and 0.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Garfield County, Utah?
41.5% of households in Garfield County, Utah own their home, lower than the Utah average of 64.8%.
What is the vacancy rate in Garfield County, Utah?
The housing vacancy rate in Garfield County, Utah is 43.5%, higher than the Utah average of 8.2%.