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 | Coronado | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,754,530 | $642,203 | $242,182 |
| Price Trend (Annual %) | 3.4% | 10.0% | 8.2% |
| Median Gross Rent | $3,255 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.4% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Coronado is about 173% higher than in California. Rent is about 67% 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 Coronado, up about 3.4% and 5.4% a year respectively. Rent is changing faster.
Median rent in Coronado rose about 55.5% between 2015 and 2023, from $2,093 to $3,255. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 12.8 yearly household incomes in Coronado.
Buying the median-priced home in Coronado costs roughly 44.9 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 Coronado. The price-to-rent ratio in California is about 27.4.
| Metric | Coronado | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,754,530 | $642,203 | $242,182 |
| Median Household Income | $136,810 | $96,718 | $78,145 |
| Price-to-Income Ratio | 12.8 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Coronado rose about 23.3%, while median household income rose about 58.1% between 2009 and 2023 — 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 | Coronado | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 39.8% | 51.6% | 58.2% |
| Rental Rate | 33.3% | 40.9% | 31.3% |
| Vacancy Rate | 26.9% | 7.6% | 10.6% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Coronado has a homeownership rate of 39.8%, lower than the California average of 51.6%. Its housing vacancy rate is 26.9%, compared with 7.6% in California.
Housing Stock
| Metric | Coronado | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1964 | 1975 | 1978 |
| Median Number of Rooms | 5.1 | 5.0 | 5.5 |
The typical housing unit in Coronado was built around 1964. On average, 2.4 people live in a home with about 5.1 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Coronado, California.
What is the median home price in Coronado, California?
The median home price in Coronado, California is $1,754,530, higher than the California average of $642,203.
What is the average home price in Coronado, 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 Coronado, California?
The median gross rent in Coronado, California is $3,255 per month, higher than the California average of $1,955.
What was the median gross rent in Coronado in 2020?
In 2020, the median gross rent in Coronado, California was $2,614 per month.
What is the price-to-rent ratio in Coronado, California?
The price-to-rent ratio in Coronado, California is about 44.9, meaning it would take roughly 44.9 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 Coronado.
Are home prices or rent rising faster in Coronado, California?
Both home prices and rent are rising in Coronado, up about 3.4% and 5.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Coronado, California?
39.8% of households in Coronado, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in Coronado, California?
The housing vacancy rate in Coronado, California is 26.9%, higher than the California average of 7.6%.