Montrose County, Colorado Housing Market
In Montrose County, Colorado, the median home value is $388,400, with a median monthly rent of $1,188. This places Montrose County at #321 nationally out of 3134 counties by median home value, and #33 within Colorado.
📈 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: $997
- Establishments: 1,676
- BLS QCEW, 2025
Housing Supply
- Single-family: 207
- Multi-family: 72
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 18,934 (avg $72,849)
- Outflow: 17,197 (avg $71,513)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 4 active ZIP codes in Montrose County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 81425 | 280.3 | -3.66% | 2025 |
| 2 | 81403 | 312.1 | +4.12% | 2025 |
| 3 | 81401 | 314.4 | +7.26% | 2025 |
| 4 | 81423 | 211.0 | +32.72% | 2022 |
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
The user wants a 280-320 word analysis of Montrose County, Colorado housing market based on provided data. I need to cover 8 specific points in 2-3 paragraphs, professional tone, third person, data-driven, no predictions. Let me structure this. Key data points: - Median home value: $388,400 (2024) - Median rent: $1,188 - Median income: $72,120 - Price-to-income: 5.39 (national 3.20) - Rent burden: 19.8% (national 17.2%) - Price-to-rent: 27.2 (national 18.7) - Home value vs national: +70.6%, vs state: -9.1% - FHFA HPI: +4.92% YoY (state -0.61%) - Migration: +1,737 net filers - Building permits: 279 units (207 SF, 72 MF) - Mortgage rate: 7.40% - Price growth: 2017 $202,500 to 2024 $388,400 (91.8% total, peak 18.6% in 2022, now 8.5%) Market classification: Price-to-rent 27.2 vs national 18.7 suggests buyer's market? Actually high price-to-rent means buying is expensive relative to renting, so renter's market. But need to check: price-to-rent ratio > 21 generally favors renting. 27.2 is high, so renter's market. Also rent burden 19.8% vs 17.2% national, but still under 30% threshold. Trend: Strong appreciation 2017-2024, peaking 2022 at 18.6%, moderating to 8.5% in 2024. FHFA shows continued 4.92% YoY, outperforming state (-0.61%). Affordability: Price-to-income 5.39 vs 3.20 national - severely unaffordable. Rent burden 19.8% vs 17.2% - moderately higher. Regional context: Home values 70.6% above national, but 9.1% below state average. Income 6.1% above national. Anomaly: Price-to-rent ratio 27.2 vs national 18.7 - significant divergence, prices rising faster than rents (as noted). Also price-to-income extremely high. Economic context: Net migration +1,737, inflow income $72,849 vs outflow $71,513. Employment 13,881 jobs, avg weekly wage $997 (~$51,844 annual). Building permits 279 units for population 43,807 - about 0.64% growth. Mortgage rate 7.40% high. Now write 280-320 words in 2-3 paragraphs. Paragraph 1: Market classification, trend, affordability. Paragraph 2: Regional context, anomaly, economic context. Paragraph 3: Recent momentum, practical implication. Let me draft.
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| Metric | Montrose County | Colorado Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $388,400 | $427,512 | $227,706 |
| Median Gross Rent | $1,188 | $1,302 | $968 |
| Owner Occupancy Rate | 75.4% | 71.9% | 73.3% |
| Price/Rent Ratio | 27.2 | 26.3 | 18.7 |
Market Analysis
The median home value in Montrose County is 9.1% below the Colorado state average and 70.6% above the U.S. national average. The median rent of $1,188/month is 8.8% below the state average.
With a price-to-rent ratio of 27.2, Montrose County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Montrose County has an owner-occupancy rate of 75.4%, compared to 71.9% in Colorado and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Fresno County | California | $388,800 | $1,392 |
| Mariposa County | California | $387,900 | $1,305 |
| Carroll County | New Hampshire | $388,900 | $1,195 |
| Orange County | New York | $387,900 | $1,680 |
| New Hanover County | North Carolina | $387,800 | $1,417 |
Other Counties in Colorado
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Custer County | $392,100 | $1,069 | 85.3% |
| Mesa County | $378,600 | $1,182 | 72.5% |
| Mineral County | $430,500 | $928 | 69.7% |
| San Juan County | $432,500 | $992 | 52.9% |
| Delta County | $343,200 | $1,121 | 77.9% |
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).