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 | Florin | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $325,822 | $642,203 | $242,182 |
| Price Trend (Annual %) | 22.0% | 10.0% | 8.2% |
| Median Gross Rent | $1,496 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.1% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Florin is about 49% lower than in California. Rent is about 23% 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 Florin, up about 22.0% and 6.1% a year respectively. Home prices are changing faster.
Median rent in Florin rose about 51.9% between 2015 and 2023, from $985 to $1,496. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in Florin.
Buying the median-priced home in Florin costs roughly 18.1 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 Florin. The price-to-rent ratio in California is about 27.4.
| Metric | Florin | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $325,822 | $642,203 | $242,182 |
| Median Household Income | $68,659 | $96,718 | $78,145 |
| Price-to-Income Ratio | 4.7 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Florin rose about 272.2%, while median household income rose about 40.7% 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 | Florin | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.6% | 51.6% | 58.2% |
| Rental Rate | 39.4% | 40.9% | 31.3% |
| Vacancy Rate | 4.0% | 7.6% | 10.6% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Florin has a homeownership rate of 56.6%, higher than the California average of 51.6%. Its housing vacancy rate is 4.0%, compared with 7.6% in California.
Housing Stock
| Metric | Florin | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.25 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1983 | 1975 | 1978 |
| Median Number of Rooms | 5.2 | 5.0 | 5.5 |
The typical housing unit in Florin was built around 1983. On average, 3.3 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 Florin, California.
What is the median home price in Florin, California?
The median home price in Florin, California is $325,822, lower than the California average of $642,203.
What is the average home price in Florin, 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 Florin, California?
The median gross rent in Florin, California is $1,496 per month, lower than the California average of $1,955.
What was the median gross rent in Florin in 2020?
In 2020, the median gross rent in Florin, California was $1,209 per month.
What is the price-to-rent ratio in Florin, California?
The price-to-rent ratio in Florin, California is about 18.1, meaning it would take roughly 18.1 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 Florin.
Are home prices or rent rising faster in Florin, California?
Both home prices and rent are rising in Florin, up about 22.0% and 6.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Florin, California?
56.6% of households in Florin, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Florin, California?
The housing vacancy rate in Florin, California is 4.0%, lower than the California average of 7.6%.