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 | Delano | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $347,226 | $642,203 | $242,182 |
| Price Trend (Annual %) | 18.6% | 10.0% | 8.2% |
| Median Gross Rent | $1,079 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Delano is about 46% lower than in California. Rent is about 45% 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 Delano, up about 18.6% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Delano rose about 41.3% between 2015 and 2023, from $764 to $1,079. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 5.9 yearly household incomes in Delano.
Buying the median-priced home in Delano costs roughly 26.8 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 Delano. The price-to-rent ratio in California is about 27.4.
| Metric | Delano | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $347,226 | $642,203 | $242,182 |
| Median Household Income | $58,453 | $96,718 | $78,145 |
| Price-to-Income Ratio | 5.9 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Delano rose about 34.6%, while median household income rose about 66.3% 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 | Delano | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.5% | 51.6% | 58.2% |
| Rental Rate | 39.3% | 40.9% | 31.3% |
| Vacancy Rate | 4.1% | 7.6% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Delano has a homeownership rate of 56.5%, higher than the California average of 51.6%. Its housing vacancy rate is 4.1%, compared with 7.6% in California.
Housing Stock
| Metric | Delano | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.65 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1981 | 1975 | 1978 |
| Median Number of Rooms | 4.9 | 5.0 | 5.5 |
The typical housing unit in Delano was built around 1981. On average, 3.6 people live in a home with about 4.9 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Delano, California.
What is the median home price in Delano, California?
The median home price in Delano, California is $347,226, lower than the California average of $642,203.
What is the average home price in Delano, 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 Delano, California?
The median gross rent in Delano, California is $1,079 per month, lower than the California average of $1,955.
What was the median gross rent in Delano in 2020?
In 2020, the median gross rent in Delano, California was $912 per month.
What is the price-to-rent ratio in Delano, California?
The price-to-rent ratio in Delano, California is about 26.8, meaning it would take roughly 26.8 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 Delano.
Are home prices or rent rising faster in Delano, California?
Both home prices and rent are rising in Delano, up about 18.6% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Delano, California?
56.5% of households in Delano, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Delano, California?
The housing vacancy rate in Delano, California is 4.1%, lower than the California average of 7.6%.