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 | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,500 | $471,160 | $242,182 |
| Price Trend (Annual %) | 2.5% | 12.1% | 8.2% |
| Median Gross Rent | $768 | $1,681 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 6.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Garfield County is about 76% lower than in Washington. Rent is about 54% lower than the Washington 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 2.5% and 4.2% a year respectively. Rent is changing faster.
Median rent in Garfield County rose about 16.7% between 2015 and 2023, from $658 to $768. Over the same span, rent in Washington rose about 65.7%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Garfield County.
Buying the median-priced home in Garfield County costs roughly 12.2 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 Garfield County. The price-to-rent ratio in Washington is about 23.4.
| Metric | Garfield County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,500 | $471,160 | $242,182 |
| Median Household Income | $64,050 | $95,177 | $78,145 |
| Price-to-Income Ratio | 1.8 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Garfield County rose about 8.0%, while median household income rose about 59.4% 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 | Garfield County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.1% | 59.1% | 58.2% |
| Rental Rate | 19.9% | 33.4% | 31.3% |
| Vacancy Rate | 14.0% | 7.4% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Garfield County has a homeownership rate of 66.1%, higher than the Washington average of 59.1%. Its housing vacancy rate is 14.0%, compared with 7.4% in Washington.
Housing Stock
| Metric | Garfield County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.18 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1968 | 1982 | 1978 |
| Median Number of Rooms | 5.9 | 5.5 | 5.5 |
The typical housing unit in Garfield County was built around 1968. On average, 2.2 people live in a home with about 5.9 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Garfield County, Washington.
What is the median home price in Garfield County, Washington?
The median home price in Garfield County, Washington is $112,500, lower than the Washington average of $471,160.
What is the average home price in Garfield County, Washington?
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, Washington?
The median gross rent in Garfield County, Washington is $768 per month, lower than the Washington average of $1,681.
What was the median gross rent in Garfield County in 2020?
In 2020, the median gross rent in Garfield County, Washington was $565 per month.
What is the price-to-rent ratio in Garfield County, Washington?
The price-to-rent ratio in Garfield County, Washington is about 12.2, meaning it would take roughly 12.2 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 Garfield County.
Are home prices or rent rising faster in Garfield County, Washington?
Both home prices and rent are rising in Garfield County, up about 2.5% and 4.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Garfield County, Washington?
66.1% of households in Garfield County, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Garfield County, Washington?
The housing vacancy rate in Garfield County, Washington is 14.0%, higher than the Washington average of 7.4%.