Downey, California Housing Market Prices
Downey Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 8% below the California median$596,741
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Median rent 5% below the California median$1,939
Housing Market Overview
| Metric | Downey | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $596,741 | $650,794 | $248,835 |
| Price Trend (Annual %) | 3.7% | 8.9% | 7.5% |
| Median Gross Rent | $1,939 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Downey is about 8% lower than in California. Rent is about 5% lower than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Downey, up about 3.7% and 5.4% a year respectively. Rent is changing faster.
Median rent in Downey rose about 57.5% between 2015 and 2024, from $1,231 to $1,939. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 6.5 yearly household incomes in Downey.
Buying the median-priced home in Downey costs roughly 25.6 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 Downey. The price-to-rent ratio in California is about 26.6.
| Metric | Downey | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $596,741 | $650,794 | $248,835 |
| Median Household Income | $92,056 | $99,161 | $80,455 |
| Price-to-Income Ratio | 6.5 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Downey rose about 41.9%, while median household income rose about 51.6% between 2009 and 2025 — 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 | Downey | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.8% | 51.7% | 58.5% |
| Rental Rate | 47.2% | 40.8% | 31.2% |
| Vacancy Rate | 2.9% | 7.5% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Downey has a homeownership rate of 49.8%, lower than the California average of 51.7%. Its housing vacancy rate is 2.9%, compared with 7.5% in California.
Housing Stock
| Metric | Downey | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.15 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1962 | 1975 | 1978 |
| Median Number of Rooms | 4.8 | 5.0 | 5.5 |
The typical housing unit in Downey was built around 1962. On average, 3.2 people live in a home with about 4.8 rooms, staying for about 15.0 years on average.
Downey, CA Housing Compared With Nearby Cities
How Downey, CA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Downey, CA | 112,177 | $596,741 #1/2 | $1,939 #1/2 | 51.3% #1/2 |
| Bellflower, CA | 76,778 | $498,156 | $1,830 | 39.3% |
Frequently Asked Questions
Common questions about the housing market in Downey, California.
What is the median home price in Downey, California?
The median home price in Downey, California is $596,741, lower than the California average of $650,794.
What is the average home price in Downey, California?
The typical home price in Downey, California, reported as the median sale price, is $596,741. 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 Downey, California?
The median gross rent in Downey, California is $1,939 per month, lower than the California average of $2,036.
What was the median gross rent in Downey in 2020?
In 2020, the median gross rent in Downey, California was $1,572 per month.
What is the price-to-rent ratio in Downey, California?
The price-to-rent ratio in Downey, California is about 25.6, meaning it would take roughly 25.6 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 Downey.
Are home prices or rent rising faster in Downey, California?
Both home prices and rent are rising in Downey, up about 3.7% and 5.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Downey, California?
49.8% of households in Downey, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in Downey, California?
The housing vacancy rate in Downey, California is 2.9%, lower than the California average of 7.5%.
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