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 | Chino Hills | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $673,774 | $642,203 | $242,182 |
| Price Trend (Annual %) | 8.5% | 10.0% | 8.2% |
| Median Gross Rent | $2,720 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.3% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chino Hills is about 5% higher than in California. Rent is about 39% higher 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 Chino Hills, up about 8.5% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Chino Hills rose about 48.7% between 2015 and 2023, from $1,829 to $2,720. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 5.4 yearly household incomes in Chino Hills.
Buying the median-priced home in Chino Hills costs roughly 20.6 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 Chino Hills. The price-to-rent ratio in California is about 27.4.
| Metric | Chino Hills | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $673,774 | $642,203 | $242,182 |
| Median Household Income | $124,024 | $96,718 | $78,145 |
| Price-to-Income Ratio | 5.4 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Chino Hills rose about 38.2%, while median household income rose about 22.1% 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 | Chino Hills | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.9% | 51.6% | 58.2% |
| Rental Rate | 26.5% | 40.9% | 31.3% |
| Vacancy Rate | 2.5% | 7.6% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Chino Hills has a homeownership rate of 70.9%, higher than the California average of 51.6%. Its housing vacancy rate is 2.5%, compared with 7.6% in California.
Housing Stock
| Metric | Chino Hills | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.09 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1990 | 1975 | 1978 |
| Median Number of Rooms | 6.2 | 5.0 | 5.5 |
The typical housing unit in Chino Hills was built around 1990. On average, 3.1 people live in a home with about 6.2 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Chino Hills, California.
What is the median home price in Chino Hills, California?
The median home price in Chino Hills, California is $673,774, higher than the California average of $642,203.
What is the average home price in Chino Hills, 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 Chino Hills, California?
The median gross rent in Chino Hills, California is $2,720 per month, higher than the California average of $1,955.
What was the median gross rent in Chino Hills in 2020?
In 2020, the median gross rent in Chino Hills, California was $2,221 per month.
What is the price-to-rent ratio in Chino Hills, California?
The price-to-rent ratio in Chino Hills, California is about 20.6, meaning it would take roughly 20.6 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 Chino Hills.
Are home prices or rent rising faster in Chino Hills, California?
Both home prices and rent are rising in Chino Hills, up about 8.5% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Chino Hills, California?
70.9% of households in Chino Hills, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Chino Hills, California?
The housing vacancy rate in Chino Hills, California is 2.5%, lower than the California average of 7.6%.