Cerritos, California Housing Market Prices
Cerritos Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 21% above the California median$789,142
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Median rent 44% above the California median$2,928
Housing Market Overview
| Metric | Cerritos | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $789,142 | $650,794 | $248,835 |
| Price Trend (Annual %) | 5.0% | 8.9% | 7.5% |
| Median Gross Rent | $2,928 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 3.7% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cerritos is about 21% higher than in California. Rent is about 44% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Cerritos, up about 5.0% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Cerritos rose about 39.2% between 2015 and 2024, from $2,104 to $2,928. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 5.8 yearly household incomes in Cerritos.
Buying the median-priced home in Cerritos costs roughly 22.5 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 Cerritos. The price-to-rent ratio in California is about 26.6.
| Metric | Cerritos | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $789,142 | $650,794 | $248,835 |
| Median Household Income | $136,324 | $99,161 | $80,455 |
| Price-to-Income Ratio | 5.8 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Cerritos rose about 24.8%, while median household income rose about 42.0% between 2009 and 2025 — 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 | Cerritos | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.6% | 51.7% | 58.5% |
| Rental Rate | 23.7% | 40.8% | 31.2% |
| Vacancy Rate | 1.7% | 7.5% | 10.2% |
| Median Tenure (years) | 21.0 | 15.0 | 15.0 |
| Median Year Moved In | 2005 | 2011 | 2011 |
Cerritos has a homeownership rate of 74.6%, higher than the California average of 51.7%. Its housing vacancy rate is 1.7%, compared with 7.5% in California.
Housing Stock
| Metric | Cerritos | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.98 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1973 | 1975 | 1978 |
| Median Number of Rooms | 6.1 | 5.0 | 5.5 |
The typical housing unit in Cerritos was built around 1973. On average, 3.0 people live in a home with about 6.1 rooms, staying for about 21.0 years on average.
Cerritos, CA Housing Compared With Nearby Cities
How Cerritos, CA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Cerritos, CA | 47,821 | $789,142 #2/2 | $2,928 #1/2 | 75.9% #1/2 |
| Lakewood, CA | 80,361 | $802,614 | $2,346 | 71.4% |
Frequently Asked Questions
Common questions about the housing market in Cerritos, California.
What is the median home price in Cerritos, California?
The median home price in Cerritos, California is $789,142, higher than the California average of $650,794.
What is the average home price in Cerritos, California?
The typical home price in Cerritos, California, reported as the median sale price, is $789,142. 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 Cerritos, California?
The median gross rent in Cerritos, California is $2,928 per month, higher than the California average of $2,036.
What was the median gross rent in Cerritos in 2020?
In 2020, the median gross rent in Cerritos, California was $2,454 per month.
What is the price-to-rent ratio in Cerritos, California?
The price-to-rent ratio in Cerritos, California is about 22.5, meaning it would take roughly 22.5 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 Cerritos.
Are home prices or rent rising faster in Cerritos, California?
Both home prices and rent are rising in Cerritos, up about 5.0% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cerritos, California?
74.6% of households in Cerritos, California own their home, higher than the California average of 51.7%.
What is the vacancy rate in Cerritos, California?
The housing vacancy rate in Cerritos, California is 1.7%, lower than the California average of 7.5%.
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