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 | Kane County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $219,619 | $457,939 | $242,182 |
| Price Trend (Annual %) | 7.7% | 11.6% | 8.2% |
| Median Gross Rent | $1,119 | $1,405 | $1,342 |
| Rent Trend (Annual %) | 3.1% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kane County is about 52% lower than in Utah. Rent is about 20% lower than the Utah average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2020
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Kane County, up about 7.7% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Kane County rose about 30.6% between 2015 and 2023, from $857 to $1,119. Over the same span, rent in Utah rose about 58.6%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Kane County.
Buying the median-priced home in Kane County costs roughly 16.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Kane County. The price-to-rent ratio in Utah is about 27.2.
| Metric | Kane County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $219,619 | $457,939 | $242,182 |
| Median Household Income | $74,994 | $92,351 | $78,145 |
| Price-to-Income Ratio | 2.9 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2020, the median home price in Kane County rose about 35.6%, while median household income rose about 80.4% 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 | Kane County | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.6% | 64.8% | 58.2% |
| Rental Rate | 9.3% | 26.9% | 31.3% |
| Vacancy Rate | 49.0% | 8.2% | 10.6% |
| Median Tenure (years) | 18.0 | 13.0 | 15.0 |
| Median Year Moved In | 2008 | 2013 | 2011 |
Kane County has a homeownership rate of 41.6%, lower than the Utah average of 64.8%. Its housing vacancy rate is 49.0%, compared with 8.2% in Utah.
Housing Stock
| Metric | Kane County | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.99 people | 2.54 people |
| Median Structure Built Year | 1993 | 1988 | 1978 |
| Median Number of Rooms | 4.9 | 6.4 | 5.5 |
The typical housing unit in Kane County was built around 1993. On average, 2.4 people live in a home with about 4.9 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Kane County, Utah.
What is the median home price in Kane County, Utah?
The median home price in Kane County, Utah is $219,619, lower than the Utah average of $457,939.
What is the average home price in Kane 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 Kane County, Utah?
The median gross rent in Kane County, Utah is $1,119 per month, lower than the Utah average of $1,405.
What was the median gross rent in Kane County in 2020?
In 2020, the median gross rent in Kane County, Utah was $1,018 per month.
What is the price-to-rent ratio in Kane County, Utah?
The price-to-rent ratio in Kane County, Utah is about 16.4, meaning it would take roughly 16.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Kane County.
Are home prices or rent rising faster in Kane County, Utah?
Both home prices and rent are rising in Kane County, up about 7.7% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kane County, Utah?
41.6% of households in Kane County, Utah own their home, lower than the Utah average of 64.8%.
What is the vacancy rate in Kane County, Utah?
The housing vacancy rate in Kane County, Utah is 49.0%, higher than the Utah average of 8.2%.