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 | El Cerrito | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,250,000 | $642,203 | $242,182 |
| Price Trend (Annual %) | 24.3% | 10.0% | 8.2% |
| Median Gross Rent | $2,439 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.5% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in El Cerrito is about 95% higher than in California. Rent is about 25% higher 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 El Cerrito, up about 24.3% and 6.5% a year respectively. Home prices are changing faster.
Median rent in El Cerrito rose about 60.9% between 2015 and 2023, from $1,515 to $2,439. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 9.8 yearly household incomes in El Cerrito.
Buying the median-priced home in El Cerrito costs roughly 42.7 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 El Cerrito. The price-to-rent ratio in California is about 27.4.
| Metric | El Cerrito | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,250,000 | $642,203 | $242,182 |
| Median Household Income | $127,203 | $96,718 | $78,145 |
| Price-to-Income Ratio | 9.8 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in El Cerrito rose about 218.7%, while median household income rose about 66.2% 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 | El Cerrito | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.0% | 51.6% | 58.2% |
| Rental Rate | 40.7% | 40.9% | 31.3% |
| Vacancy Rate | 4.3% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
El Cerrito has a homeownership rate of 55.0%, higher than the California average of 51.6%. Its housing vacancy rate is 4.3%, compared with 7.6% in California.
Housing Stock
| Metric | El Cerrito | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1959 | 1975 | 1978 |
| Median Number of Rooms | 5.1 | 5.0 | 5.5 |
The typical housing unit in El Cerrito was built around 1959. On average, 2.4 people live in a home with about 5.1 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in El Cerrito, California.
What is the median home price in El Cerrito, California?
The median home price in El Cerrito, California is $1,250,000, higher than the California average of $642,203.
What is the average home price in El Cerrito, 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 El Cerrito, California?
The median gross rent in El Cerrito, California is $2,439 per month, higher than the California average of $1,955.
What was the median gross rent in El Cerrito in 2020?
In 2020, the median gross rent in El Cerrito, California was $2,030 per month.
What is the price-to-rent ratio in El Cerrito, California?
The price-to-rent ratio in El Cerrito, California is about 42.7, meaning it would take roughly 42.7 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 El Cerrito.
Are home prices or rent rising faster in El Cerrito, California?
Both home prices and rent are rising in El Cerrito, up about 24.3% and 6.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in El Cerrito, California?
55.0% of households in El Cerrito, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in El Cerrito, California?
The housing vacancy rate in El Cerrito, California is 4.3%, lower than the California average of 7.6%.