Coconino County, Arizona

Coconino County's population as of Census 2020 was 145,101, up 7.9% from 2010 (the fifth fastest population growth of Arizona's 15 counties). From 2020 to 2025, the countywide population increased by 2.6% to 149,453, according to estimates by Arizona Office of Economic Opportunity (OEO). Coconino County's population is expected to reach 155,172 in 2030 and 158,179 in 2060, according to OEO projections.

PERSONAL INCOME: In 2024, Coconino County had a per capita personal income (PCPI) of $63,794. This PCPI ranked 2nd in the state and was 97% of the state average, $65,798, and 87.1% of the national average, $73,204. The 2024 PCPI reflected an increase of 3.3% from 2023. The 2023–2024 state change was 4.4% and the national change was 4.6%. Back in 2014, the PCPI of Coconino County was $40,017 and ranked 2nd in the state. The 2014–2024 compound annual growth rate of PCPI was 4.8%. The compound annual growth rate for the state was 5.6% and for the nation was 4.7%.

GROSS DOMESTIC PRODUCT: In 2024, Coconino County produced $10.7 billion in current-dollar total GDP. This GDP ranked 6th in the state and accounted for 1.9% of the state total. Back in 2014, the total GDP of Coconino County was $6.7 billion and ranked 4th in the state. In 2024, Coconino County real GDP grew 4.3%; the 2023–2024 state change was 4.5%. The 2014–2024 compound annual growth rate for Coconino County real GDP was 1.6%; the compound annual growth rate for the state was 4.0%.

For more info on Coconino County's personal income and GDP, check out the county's BEA Regional Fact Sheet (BEARFACTS) 

MAJOR INDUSTRY SALES

• In 2025, Coconino County's retail sales totaled $1.97 billion, up 1.4% from the year prior after declining 2.3% in 2024. That followed a record-high increase of 23.1% in 2021 (with records back to 2009) and follow-on gains of 6.1% in 2022 and 2.9% in 2023. 
• Coconino County's restaurant & bar sales totaled $774.2 million in 2025, up 3.6% from the year prior following gains of 37.1% in 2021, 12.7% in 2022, 6.4% in 2023, and 2.7% in 2024 (rebounding from the COVID-related decline of 23.3% back in 2020). Coconino County's restaurant & bar sales were at a record high in 2025 (with records back to 2009). 
• Hotel/motel receipts in Coconino County totaled $652.1 million in 2025, down 4.6% from the year prior after increasing 66.9% in 2021, 11.6% in 2022, 5.2% in 2023, and 4.6% in 2024 (that followed a COVID-related drop of 35.1% in 2020, the first year of the pandemic). Coconino County's hotel/motel receipts were at a record high in 2024 (with records back to 2009) before declining in 2025.

BANK DEPOSITS

• In 2025, bank deposits in Coconino County (as of June 30) totaled $2.36 billion, down 0.7% from a year prior, after falling 15.6% in 2022, 9.2% in 2023, and 2.7% in 2024. That followed strong growth of 20.7% and 19.7% in 2020 and 2021, respectively (the fastest 2-year period of gains on record with records back to 1994). Deposits in those years were helped along by stimulus payments and other COVID programs. 
• Deposits at Coconino County banks in 2025 were at their lowest level since 2019, the year prior to the pandemic, and were down 26.0% from the record high in 2021.

HOUSING MARKET DATA

• According to data from Realtor.com, the Coconino County real estate market functioned as a balanced market in June 2026, characterized by relatively equal levels of supply and demand. The median listing price stood at $786,924, which reflected a 4.6% year-over-year increase along with a 2.5% month-over-month bump. Actual home sales resulted in a median sold price of $676,000, and homes sold for approximately 1.9% below their asking price at a 98.0% sale-to-list ratio.
• Properties spent a median of 58 days on the market, which represented a 6.0% year-over-year increase. The price per square foot rose 1.5% annually to $410, while active for-sale listings expanded slightly by 0.9% to 1,986 homes. Meanwhile, the local rental market saw expanding inventory with 422 active rental listings—a 52.0% increase year-over-year—as the median rent fell 2.2% annually to $2,049 per month.
• For the most recent housing market data and trends (median listing home price, median listing home price per square foot, median sold home price, sale-to-list price ratio, median days on market, and more) for Coconino County, visit Coconino County, AZ Real Estate Market.)

NEW HOME CONSTRUCTION

• According to U.S. Census Bureau data, new residential construction activity in Coconino County continued to moderate in 2025 following the exceptionally strong levels recorded in 2023. A total of 634 residential building permits were issued in 2025, down 69 permits, or 9.8%, from 703 permits in 2024. The decline was concentrated in multifamily development, as permits for buildings with five or more units fell from 354 units in 2024 to 183 units in 2025, a decrease of 48.3%. Offsetting some of that decline, single-family permits increased from 331 to 421 units, a gain of 27.2%. Total residential permit valuation reached $185.7 million in 2025, down $16.6 million, or 8.2%, from $202.3 million in 2024. The average valuation of a new single-family permit declined from a record $469,363 in 2024 to $374,316 in 2025, a decrease of 20.3%.
• The slowdown in 2025 followed a substantial decline in 2024. Total residential permits fell from 1,123 units in 2023 to 703 units in 2024, a decrease of 37.4%. Permits for buildings with five or more units dropped from 672 units to 354 units, a decline of 47.3%, while total residential valuation decreased from $241.4 million to $202.3 million, a decline of 16.2%. Despite the reduction in overall activity, the average valuation of a new single-family permit increased from $401,124 in 2023 to $469,363 in 2024, a gain of 17.0%, reflecting continued growth in the value of new single-family housing construction.
• The decline in 2024 came immediately after one of the strongest construction years on record. In 2023, Coconino County issued 1,123 residential permits, an increase of 385 permits, or 52.2%, from 738 permits in 2022. Multifamily development was the primary driver of growth, with permits for buildings containing five or more units rising from 327 units in 2022 to 672 units in 2023, an increase of 105.5%. Total residential valuation increased from $228.2 million in 2022 to $241.4 million in 2023, a gain of 5.8%, while the average valuation of a new single-family permit rose from $376,373 to $401,124, an increase of 6.6%.
• Although permit activity has eased over the past two years, residential construction remains well above the levels seen during the years immediately following the Great Recession. Recent trends indicate a shift away from large multifamily projects and toward single-family construction, while permit valuations remain historically elevated despite the pullback in 2025. 
• For the most recent monthly data, click here. 

See downloadable spreadsheet below for annual building permit data.