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 Paso de Robles (Paso Robles) | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $801,741 | $642,203 | $242,182 |
| Price Trend (Annual %) | 34.1% | 10.0% | 8.2% |
| Median Gross Rent | $1,929 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 8.2% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in El Paso de Robles (Paso Robles) is about 25% 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 El Paso de Robles (Paso Robles), up about 34.1% and 8.2% a year respectively. Home prices are changing faster.
Median rent in El Paso de Robles (Paso Robles) rose about 69.0% between 2015 and 2023, from $1,141 to $1,929. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 8.8 yearly household incomes in El Paso de Robles (Paso Robles).
Buying the median-priced home in El Paso de Robles (Paso Robles) costs roughly 34.6 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 El Paso de Robles (Paso Robles). The price-to-rent ratio in California is about 27.4.
| Metric | El Paso de Robles (Paso Robles) | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $801,741 | $642,203 | $242,182 |
| Median Household Income | $90,716 | $96,718 | $78,145 |
| Price-to-Income Ratio | 8.8 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in El Paso de Robles (Paso Robles) rose about 293.1%, while median household income rose about 58.0% 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 | El Paso de Robles (Paso Robles) | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.9% | 51.6% | 58.2% |
| Rental Rate | 37.4% | 40.9% | 31.3% |
| Vacancy Rate | 8.7% | 7.6% | 10.6% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
El Paso de Robles (Paso Robles) has a homeownership rate of 53.9%, higher than the California average of 51.6%. Its housing vacancy rate is 8.7%, compared with 7.6% in California.
Housing Stock
| Metric | El Paso de Robles (Paso Robles) | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.64 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1986 | 1975 | 1978 |
| Median Number of Rooms | 5.2 | 5.0 | 5.5 |
The typical housing unit in El Paso de Robles (Paso Robles) was built around 1986. On average, 2.6 people live in a home with about 5.2 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in El Paso de Robles (Paso Robles), California.
What is the median home price in El Paso de Robles (Paso Robles), California?
The median home price in El Paso de Robles (Paso Robles), California is $801,741, higher than the California average of $642,203.
What is the average home price in El Paso de Robles (Paso Robles), 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 Paso de Robles (Paso Robles), California?
The median gross rent in El Paso de Robles (Paso Robles), California is $1,929 per month, lower than the California average of $1,955.
What was the median gross rent in El Paso de Robles (Paso Robles) in 2020?
In 2020, the median gross rent in El Paso de Robles (Paso Robles), California was $1,388 per month.
What is the price-to-rent ratio in El Paso de Robles (Paso Robles), California?
The price-to-rent ratio in El Paso de Robles (Paso Robles), California is about 34.6, meaning it would take roughly 34.6 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 El Paso de Robles (Paso Robles).
Are home prices or rent rising faster in El Paso de Robles (Paso Robles), California?
Both home prices and rent are rising in El Paso de Robles (Paso Robles), up about 34.1% and 8.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in El Paso de Robles (Paso Robles), California?
53.9% of households in El Paso de Robles (Paso Robles), California own their home, higher than the California average of 51.6%.
What is the vacancy rate in El Paso de Robles (Paso Robles), California?
The housing vacancy rate in El Paso de Robles (Paso Robles), California is 8.7%, higher than the California average of 7.6%.