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.
Housing Market Overview
| Metric | Baldwin Park | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $665,135 | $642,203 | $242,182 |
| Price Trend (Annual %) | 10.7% | 10.0% | 8.2% |
| Median Gross Rent | $1,825 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.3% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Baldwin Park is about 4% higher than in California. Rent is about 7% lower than the California 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 Baldwin Park, up about 10.7% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Baldwin Park rose about 47.6% between 2015 and 2023, from $1,237 to $1,825. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 8.4 yearly household incomes in Baldwin Park.
Buying the median-priced home in Baldwin Park costs roughly 30.4 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 Baldwin Park. The price-to-rent ratio in California is about 27.4.
| Metric | Baldwin Park | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $665,135 | $642,203 | $242,182 |
| Median Household Income | $79,473 | $96,718 | $78,145 |
| Price-to-Income Ratio | 8.4 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Baldwin Park rose about 86.3%, while median household income rose about 53.8% 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 | Baldwin Park | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.5% | 51.6% | 58.2% |
| Rental Rate | 39.7% | 40.9% | 31.3% |
| Vacancy Rate | 1.8% | 7.6% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Baldwin Park has a homeownership rate of 58.5%, higher than the California average of 51.6%. Its housing vacancy rate is 1.8%, compared with 7.6% in California.
Housing Stock
| Metric | Baldwin Park | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.86 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1964 | 1975 | 1978 |
| Median Number of Rooms | 4.9 | 5.0 | 5.5 |
The typical housing unit in Baldwin Park was built around 1964. On average, 3.9 people live in a home with about 4.9 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Baldwin Park, California.
What is the median home price in Baldwin Park, California?
The median home price in Baldwin Park, California is $665,135, higher than the California average of $642,203.
What is the average home price in Baldwin Park, California?
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 Baldwin Park, California?
The median gross rent in Baldwin Park, California is $1,825 per month, lower than the California average of $1,955.
What was the median gross rent in Baldwin Park in 2020?
In 2020, the median gross rent in Baldwin Park, California was $1,522 per month.
What is the price-to-rent ratio in Baldwin Park, California?
The price-to-rent ratio in Baldwin Park, California is about 30.4, meaning it would take roughly 30.4 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 Baldwin Park.
Are home prices or rent rising faster in Baldwin Park, California?
Both home prices and rent are rising in Baldwin Park, up about 10.7% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Baldwin Park, California?
58.5% of households in Baldwin Park, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Baldwin Park, California?
The housing vacancy rate in Baldwin Park, California is 1.8%, lower than the California average of 7.6%.