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 San Gabriel | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,224,142 | $642,203 | $242,182 |
| Price Trend (Annual %) | 20.9% | 10.0% | 8.2% |
| Median Gross Rent | $1,932 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.7% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in East San Gabriel is about 91% higher than in California. Rent is about 1% 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 San Gabriel, up about 20.9% and 5.7% a year respectively. Home prices are changing faster.
Median rent in East San Gabriel rose about 56.7% between 2015 and 2023, from $1,233 to $1,932. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 11.6 yearly household incomes in East San Gabriel.
Buying the median-priced home in East San Gabriel costs roughly 52.8 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 East San Gabriel. The price-to-rent ratio in California is about 27.4.
| Metric | East San Gabriel | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,224,142 | $642,203 | $242,182 |
| Median Household Income | $105,863 | $96,718 | $78,145 |
| Price-to-Income Ratio | 11.6 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in East San Gabriel rose about 149.9%, while median household income rose about 63.1% 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 San Gabriel | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.2% | 51.6% | 58.2% |
| Rental Rate | 41.9% | 40.9% | 31.3% |
| Vacancy Rate | 7.0% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
East San Gabriel has a homeownership rate of 51.2%, about the same as the California average of 51.6%. Its housing vacancy rate is 7.0%, compared with 7.6% in California.
Housing Stock
| Metric | East San Gabriel | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.00 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1962 | 1975 | 1978 |
| Median Number of Rooms | 5.0 | 5.0 | 5.5 |
The typical housing unit in East San Gabriel was built around 1962. On average, 3.0 people live in a home with about 5.0 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in East San Gabriel, California.
What is the median home price in East San Gabriel, California?
The median home price in East San Gabriel, California is $1,224,142, higher than the California average of $642,203.
What is the average home price in East San Gabriel, 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 San Gabriel, California?
The median gross rent in East San Gabriel, California is $1,932 per month, lower than the California average of $1,955.
What was the median gross rent in East San Gabriel in 2020?
In 2020, the median gross rent in East San Gabriel, California was $1,603 per month.
What is the price-to-rent ratio in East San Gabriel, California?
The price-to-rent ratio in East San Gabriel, California is about 52.8, meaning it would take roughly 52.8 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 East San Gabriel.
Are home prices or rent rising faster in East San Gabriel, California?
Both home prices and rent are rising in East San Gabriel, up about 20.9% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in East San Gabriel, California?
51.2% of households in East San Gabriel, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in East San Gabriel, California?
The housing vacancy rate in East San Gabriel, California is 7.0%, lower than the California average of 7.6%.