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 | Coachella | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,311 | $642,203 | $242,182 |
| Price Trend (Annual %) | 12.4% | 10.0% | 8.2% |
| Median Gross Rent | $1,091 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Coachella is about 60% lower than in California. Rent is about 44% 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 Coachella, up about 12.4% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Coachella rose about 26.6% between 2015 and 2023, from $862 to $1,091. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Coachella.
Buying the median-priced home in Coachella costs roughly 19.8 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Coachella. The price-to-rent ratio in California is about 27.4.
| Metric | Coachella | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,311 | $642,203 | $242,182 |
| Median Household Income | $64,898 | $96,718 | $78,145 |
| Price-to-Income Ratio | 4.0 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Coachella rose about 102.6%, while median household income rose about 58.5% 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 | Coachella | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.9% | 51.6% | 58.2% |
| Rental Rate | 32.3% | 40.9% | 31.3% |
| Vacancy Rate | 4.7% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Coachella has a homeownership rate of 62.9%, higher than the California average of 51.6%. Its housing vacancy rate is 4.7%, compared with 7.6% in California.
Housing Stock
| Metric | Coachella | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.42 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1989 | 1975 | 1978 |
| Median Number of Rooms | 5.1 | 5.0 | 5.5 |
The typical housing unit in Coachella was built around 1989. On average, 3.4 people live in a home with about 5.1 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Coachella, California.
What is the median home price in Coachella, California?
The median home price in Coachella, California is $259,311, lower than the California average of $642,203.
What is the average home price in Coachella, 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 Coachella, California?
The median gross rent in Coachella, California is $1,091 per month, lower than the California average of $1,955.
What was the median gross rent in Coachella in 2020?
In 2020, the median gross rent in Coachella, California was $817 per month.
What is the price-to-rent ratio in Coachella, California?
The price-to-rent ratio in Coachella, California is about 19.8, meaning it would take roughly 19.8 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Coachella.
Are home prices or rent rising faster in Coachella, California?
Both home prices and rent are rising in Coachella, up about 12.4% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Coachella, California?
62.9% of households in Coachella, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Coachella, California?
The housing vacancy rate in Coachella, California is 4.7%, lower than the California average of 7.6%.