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 | Grand County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $5,000 | $457,939 | $242,182 |
| Price Trend (Annual %) | -15.9% | 11.6% | 8.2% |
| Median Gross Rent | $1,021 | $1,405 | $1,342 |
| Rent Trend (Annual %) | 5.2% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grand County is about 99% 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 Grand County: home prices fell about 15.9% a year while rent rose about 5.2% a year. That is an unusual pattern worth watching.
Median rent in Grand County rose about 34.6% between 2015 and 2023, from $758 to $1,021. Over the same span, rent in Utah rose about 58.6%.
Affordability
On average, housing unit costs 0.1 yearly household incomes in Grand County.
Buying the median-priced home in Grand County costs roughly 0.4 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 Grand County. The price-to-rent ratio in Utah is about 27.2.
| Metric | Grand County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $5,000 | $457,939 | $242,182 |
| Median Household Income | $62,164 | $92,351 | $78,145 |
| Price-to-Income Ratio | 0.1 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Grand County fell about 94.0%, while median household income rose about 64.8% 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 | Grand County | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.4% | 64.8% | 58.2% |
| Rental Rate | 25.3% | 26.9% | 31.3% |
| Vacancy Rate | 16.3% | 8.2% | 10.6% |
| Median Tenure (years) | 15.0 | 13.0 | 15.0 |
| Median Year Moved In | 2011 | 2013 | 2011 |
Grand County has a homeownership rate of 58.4%, lower than the Utah average of 64.8%. Its housing vacancy rate is 16.3%, compared with 8.2% in Utah.
Housing Stock
| Metric | Grand County | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.14 people | 2.99 people | 2.54 people |
| Median Structure Built Year | 1988 | 1988 | 1978 |
| Median Number of Rooms | 5.4 | 6.4 | 5.5 |
The typical housing unit in Grand County was built around 1988. On average, 2.1 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Grand County, Utah.
What is the median home price in Grand County, Utah?
The median home price in Grand County, Utah is $5,000, lower than the Utah average of $457,939.
What is the average home price in Grand 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 Grand County, Utah?
The median gross rent in Grand County, Utah is $1,021 per month, lower than the Utah average of $1,405.
What was the median gross rent in Grand County in 2020?
In 2020, the median gross rent in Grand County, Utah was $1,011 per month.
What is the price-to-rent ratio in Grand County, Utah?
The price-to-rent ratio in Grand County, Utah is about 0.4, meaning it would take roughly 0.4 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 Grand County.
Are home prices or rent rising faster in Grand County, Utah?
Home prices and rent are moving in opposite directions in Grand County: home prices fell about 15.9% a year while rent rose about 5.2% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Grand County, Utah?
58.4% of households in Grand County, Utah own their home, lower than the Utah average of 64.8%.
What is the vacancy rate in Grand County, Utah?
The housing vacancy rate in Grand County, Utah is 16.3%, higher than the Utah average of 8.2%.