La Paz County, Arizona Housing Market
In La Paz County, Arizona, the median home value is $135,800, with a median monthly rent of $802. This places La Paz County at #2422 nationally out of 3134 counties by median home value, and #14 within Arizona.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $917
- Establishments: 374
- BLS QCEW, 2025
Housing Supply
- Single-family: 62
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 6,367 (avg $54,276)
- Outflow: 5,570 (avg $52,638)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 1 active ZIP codes in La Paz County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 85344 | 364.6 | +17.58% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
📝 Local Market Notes
La Paz County operates as a distinctively affordable market, characterized by a price-to-income ratio of 2.74, which is significantly below the national average of 3.20. With a median home value of $135,800, the county sits 40.4% below the national median and 48.9% below the state average. This affordability is reinforced by a price-to-rent ratio of 14.1, well under the national norm of 18.7, suggesting that ownership remains a more financially accessible option than long-term renting for many residents. The rent burden of 19.5% slightly exceeds the national average of 17.2%, indicating that while homes are cheap, rental costs are becoming a modest strain on household budgets. The market has experienced a dramatic valuation shift, with median home values rising from $77,400 in 2017 to $135,800 in 2024. This trajectory includes a peak year-over-year increase of 23.3% in 2021, moderating to 15.5% in 2024. Recent FHFA data confirms continued momentum, showing a 10.49% year-over-year price increase in 2025, which outpaces the Arizona state average of 0.52% by nearly ten percentage points. This divergence highlights a localized surge in demand that is decoupling the county’s housing values from broader state trends. The primary driver appears to be net migration, with 797 new filers arriving in 2021-2022, bringing an average income of $54,276, which is higher than the local median household income of $49,478. Supply constraints and economic limitations define the current landscape. Only 62 new single-family units were authorized in 2025, with zero multi-family permits, creating a tight inventory that likely supports price appreciation. The local economy supports 4,621 jobs with an average weekly wage of $917, which may not fully sustain the rising home prices without external income sources. For potential buyers, the low entry price offers value, but the rapid appreciation rate and limited new supply suggest that affordability gaps may widen. Renters face a market where home values are rising faster than rents, potentially reducing the long-term financial advantage of renting. The 7.40% national mortgage rate further complicates purchasing power, making the low median price a critical buffer for local buyers.
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| Metric | La Paz County | Arizona Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $135,800 | $265,720 | $227,706 |
| Median Gross Rent | $802 | $1,073 | $968 |
| Owner Occupancy Rate | 72.1% | 70.7% | 73.3% |
| Price/Rent Ratio | 14.1 | 19.9 | 18.7 |
Market Analysis
The median home value in La Paz County is 48.9% below the Arizona state average and 40.4% below the U.S. national average. The median rent of $802/month is 25.3% below the state average.
With a price-to-rent ratio of 14.1, buying a home in La Paz County is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
La Paz County has an owner-occupancy rate of 72.1%, compared to 70.7% in Arizona and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Chambers County | Alabama | $135,800 | $871 |
| Roosevelt County | New Mexico | $135,800 | $898 |
| Walker County | Alabama | $135,900 | $756 |
| Van Buren County | Arkansas | $135,700 | $722 |
| Wayne County | Kentucky | $135,700 | $727 |
Other Counties in Arizona
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Greenlee County | $158,600 | $648 | 53.0% |
| Navajo County | $201,500 | $858 | 73.2% |
| Apache County | $63,700 | $647 | 79.4% |
| Graham County | $212,000 | $935 | 73.1% |
| Yuma County | $217,800 | $993 | 71.0% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).