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 | Piute County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $216,666 | $457,939 | $242,182 |
| Price Trend (Annual %) | 12.6% | 11.6% | 8.2% |
| Median Gross Rent | $791 | $1,405 | $1,342 |
| Rent Trend (Annual %) | 6.7% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Piute County is about 53% 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 Piute County, up about 12.6% and 6.7% a year respectively. Home prices are changing faster.
Median rent in Piute County rose about 29.2% between 2015 and 2023, from $612 to $791. Over the same span, rent in Utah rose about 58.6%.
Affordability
On average, housing unit costs 4.9 yearly household incomes in Piute County.
Buying the median-priced home in Piute County costs roughly 22.8 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 Piute County. The price-to-rent ratio in Utah is about 27.2.
| Metric | Piute County | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $216,666 | $457,939 | $242,182 |
| Median Household Income | $44,416 | $92,351 | $78,145 |
| Price-to-Income Ratio | 4.9 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Piute County rose about 83.6%, while median household income rose about 22.9% 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 | Piute County | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.9% | 64.8% | 58.2% |
| Rental Rate | 4.7% | 26.9% | 31.3% |
| Vacancy Rate | 36.4% | 8.2% | 10.6% |
| Median Tenure (years) | 22.0 | 13.0 | 15.0 |
| Median Year Moved In | 2004 | 2013 | 2011 |
Piute County has a homeownership rate of 58.9%, lower than the Utah average of 64.8%. Its housing vacancy rate is 36.4%, compared with 8.2% in Utah.
Housing Stock
| Metric | Piute County | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.99 people | 2.99 people | 2.54 people |
| Median Structure Built Year | 1975 | 1988 | 1978 |
| Median Number of Rooms | 5.6 | 6.4 | 5.5 |
The typical housing unit in Piute County was built around 1975. On average, 3.0 people live in a home with about 5.6 rooms, staying for about 22.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Piute County, Utah.
What is the median home price in Piute County, Utah?
The median home price in Piute County, Utah is $216,666, lower than the Utah average of $457,939.
What is the average home price in Piute 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 Piute County, Utah?
The median gross rent in Piute County, Utah is $791 per month, lower than the Utah average of $1,405.
What was the median gross rent in Piute County in 2020?
In 2020, the median gross rent in Piute County, Utah was $754 per month.
What is the price-to-rent ratio in Piute County, Utah?
The price-to-rent ratio in Piute County, Utah is about 22.8, meaning it would take roughly 22.8 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 Piute County.
Are home prices or rent rising faster in Piute County, Utah?
Both home prices and rent are rising in Piute County, up about 12.6% and 6.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Piute County, Utah?
58.9% of households in Piute County, Utah own their home, lower than the Utah average of 64.8%.
What is the vacancy rate in Piute County, Utah?
The housing vacancy rate in Piute County, Utah is 36.4%, higher than the Utah average of 8.2%.