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 | Daly City | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,173,491 | $642,203 | $242,182 |
| Price Trend (Annual %) | 12.9% | 10.0% | 8.2% |
| Median Gross Rent | $2,497 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.0% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Daly City is about 83% higher than in California. Rent is about 28% 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 Daly City, up about 12.9% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Daly City rose about 48.8% between 2015 and 2023, from $1,679 to $2,497. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 9.8 yearly household incomes in Daly City.
Buying the median-priced home in Daly City costs roughly 39.2 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 Daly City. The price-to-rent ratio in California is about 27.4.
| Metric | Daly City | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,173,491 | $642,203 | $242,182 |
| Median Household Income | $119,663 | $96,718 | $78,145 |
| Price-to-Income Ratio | 9.8 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Daly City rose about 114.2%, while median household income rose about 66.8% 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 | Daly City | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.0% | 51.6% | 58.2% |
| Rental Rate | 36.7% | 40.9% | 31.3% |
| Vacancy Rate | 9.3% | 7.6% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Daly City has a homeownership rate of 54.0%, higher than the California average of 51.6%. Its housing vacancy rate is 9.3%, compared with 7.6% in California.
Housing Stock
| Metric | Daly City | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.17 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1965 | 1975 | 1978 |
| Median Number of Rooms | 4.7 | 5.0 | 5.5 |
The typical housing unit in Daly City was built around 1965. On average, 3.2 people live in a home with about 4.7 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Daly City, California.
What is the median home price in Daly City, California?
The median home price in Daly City, California is $1,173,491, higher than the California average of $642,203.
What is the average home price in Daly City, 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 Daly City, California?
The median gross rent in Daly City, California is $2,497 per month, higher than the California average of $1,955.
What was the median gross rent in Daly City in 2020?
In 2020, the median gross rent in Daly City, California was $2,238 per month.
What is the price-to-rent ratio in Daly City, California?
The price-to-rent ratio in Daly City, California is about 39.2, meaning it would take roughly 39.2 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 Daly City.
Are home prices or rent rising faster in Daly City, California?
Both home prices and rent are rising in Daly City, up about 12.9% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Daly City, California?
54.0% of households in Daly City, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Daly City, California?
The housing vacancy rate in Daly City, California is 9.3%, higher than the California average of 7.6%.