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 | Fair Oaks | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $647,672 | $642,203 | $242,182 |
| Price Trend (Annual %) | 11.3% | 10.0% | 8.2% |
| Median Gross Rent | $1,788 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.8% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fair Oaks is about 1% higher than in California. Rent is about 9% 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 Fair Oaks, up about 11.3% and 6.8% a year respectively. Home prices are changing faster.
Median rent in Fair Oaks rose about 67.3% between 2015 and 2023, from $1,069 to $1,788. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 5.8 yearly household incomes in Fair Oaks.
Buying the median-priced home in Fair Oaks costs roughly 30.2 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 Fair Oaks. The price-to-rent ratio in California is about 27.4.
| Metric | Fair Oaks | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $647,672 | $642,203 | $242,182 |
| Median Household Income | $111,661 | $96,718 | $78,145 |
| Price-to-Income Ratio | 5.8 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fair Oaks rose about 168.0%, while median household income rose about 48.6% 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 | Fair Oaks | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.6% | 51.6% | 58.2% |
| Rental Rate | 28.8% | 40.9% | 31.3% |
| Vacancy Rate | 3.6% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Fair Oaks has a homeownership rate of 67.6%, higher than the California average of 51.6%. Its housing vacancy rate is 3.6%, compared with 7.6% in California.
Housing Stock
| Metric | Fair Oaks | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1976 | 1975 | 1978 |
| Median Number of Rooms | 6.0 | 5.0 | 5.5 |
The typical housing unit in Fair Oaks was built around 1976. On average, 2.4 people live in a home with about 6.0 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fair Oaks, California.
What is the median home price in Fair Oaks, California?
The median home price in Fair Oaks, California is $647,672, higher than the California average of $642,203.
What is the average home price in Fair Oaks, 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 Fair Oaks, California?
The median gross rent in Fair Oaks, California is $1,788 per month, lower than the California average of $1,955.
What was the median gross rent in Fair Oaks in 2020?
In 2020, the median gross rent in Fair Oaks, California was $1,418 per month.
What is the price-to-rent ratio in Fair Oaks, California?
The price-to-rent ratio in Fair Oaks, California is about 30.2, meaning it would take roughly 30.2 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 Fair Oaks.
Are home prices or rent rising faster in Fair Oaks, California?
Both home prices and rent are rising in Fair Oaks, up about 11.3% and 6.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fair Oaks, California?
67.6% of households in Fair Oaks, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Fair Oaks, California?
The housing vacancy rate in Fair Oaks, California is 3.6%, lower than the California average of 7.6%.