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 | East Los Angeles | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $515,369 | $642,203 | $242,182 |
| Price Trend (Annual %) | 6.5% | 10.0% | 8.2% |
| Median Gross Rent | $1,437 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.1% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in East Los Angeles is about 20% lower than in California. Rent is about 26% 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 East Los Angeles, up about 6.5% and 5.1% a year respectively. Home prices are changing faster.
Median rent in East Los Angeles rose about 45.4% between 2015 and 2023, from $988 to $1,437. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 7.5 yearly household incomes in East Los Angeles.
Buying the median-priced home in East Los Angeles costs roughly 29.9 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 East Los Angeles. The price-to-rent ratio in California is about 27.4.
| Metric | East Los Angeles | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $515,369 | $642,203 | $242,182 |
| Median Household Income | $68,350 | $96,718 | $78,145 |
| Price-to-Income Ratio | 7.5 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in East Los Angeles rose about 82.3%, while median household income rose about 90.7% 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 | East Los Angeles | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 32.2% | 51.6% | 58.2% |
| Rental Rate | 62.5% | 40.9% | 31.3% |
| Vacancy Rate | 5.3% | 7.6% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
East Los Angeles has a homeownership rate of 32.2%, lower than the California average of 51.6%. Its housing vacancy rate is 5.3%, compared with 7.6% in California.
Housing Stock
| Metric | East Los Angeles | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.74 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1952 | 1975 | 1978 |
| Median Number of Rooms | 4.3 | 5.0 | 5.5 |
The typical housing unit in East Los Angeles was built around 1952. On average, 3.7 people live in a home with about 4.3 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in East Los Angeles, California.
What is the median home price in East Los Angeles, California?
The median home price in East Los Angeles, California is $515,369, lower than the California average of $642,203.
What is the average home price in East Los Angeles, 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 East Los Angeles, California?
The median gross rent in East Los Angeles, California is $1,437 per month, lower than the California average of $1,955.
What was the median gross rent in East Los Angeles in 2020?
In 2020, the median gross rent in East Los Angeles, California was $1,166 per month.
What is the price-to-rent ratio in East Los Angeles, California?
The price-to-rent ratio in East Los Angeles, California is about 29.9, meaning it would take roughly 29.9 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 East Los Angeles.
Are home prices or rent rising faster in East Los Angeles, California?
Both home prices and rent are rising in East Los Angeles, up about 6.5% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in East Los Angeles, California?
32.2% of households in East Los Angeles, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in East Los Angeles, California?
The housing vacancy rate in East Los Angeles, California is 5.3%, lower than the California average of 7.6%.