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 Niles | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $234,126 | $642,203 | $242,182 |
| Price Trend (Annual %) | 11.5% | 10.0% | 8.2% |
| Median Gross Rent | $1,204 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in East Niles is about 64% lower than in California. Rent is about 38% 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 Niles, up about 11.5% and 3.9% a year respectively. Home prices are changing faster.
Median rent in East Niles rose about 33.1% between 2015 and 2023, from $905 to $1,204. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in East Niles.
Buying the median-priced home in East Niles costs roughly 16.2 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in East Niles. The price-to-rent ratio in California is about 27.4.
| Metric | East Niles | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $234,126 | $642,203 | $242,182 |
| Median Household Income | $55,039 | $96,718 | $78,145 |
| Price-to-Income Ratio | 4.3 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in East Niles rose about 114.1%, while median household income rose about 51.0% 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 | East Niles | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.1% | 51.6% | 58.2% |
| Rental Rate | 37.3% | 40.9% | 31.3% |
| Vacancy Rate | 5.6% | 7.6% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
East Niles has a homeownership rate of 57.1%, higher than the California average of 51.6%. Its housing vacancy rate is 5.6%, compared with 7.6% in California.
Housing Stock
| Metric | East Niles | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.57 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1979 | 1975 | 1978 |
| Median Number of Rooms | 5.1 | 5.0 | 5.5 |
The typical housing unit in East Niles was built around 1979. On average, 3.6 people live in a home with about 5.1 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in East Niles, California.
What is the median home price in East Niles, California?
The median home price in East Niles, California is $234,126, lower than the California average of $642,203.
What is the average home price in East Niles, 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 Niles, California?
The median gross rent in East Niles, California is $1,204 per month, lower than the California average of $1,955.
What was the median gross rent in East Niles in 2020?
In 2020, the median gross rent in East Niles, California was $1,000 per month.
What is the price-to-rent ratio in East Niles, California?
The price-to-rent ratio in East Niles, California is about 16.2, meaning it would take roughly 16.2 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in East Niles.
Are home prices or rent rising faster in East Niles, California?
Both home prices and rent are rising in East Niles, up about 11.5% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in East Niles, California?
57.1% of households in East Niles, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in East Niles, California?
The housing vacancy rate in East Niles, California is 5.6%, lower than the California average of 7.6%.