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 | Foothill Farms | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $348,453 | $642,203 | $242,182 |
| Price Trend (Annual %) | 6.9% | 10.0% | 8.2% |
| Median Gross Rent | $1,546 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.6% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Foothill Farms is about 46% lower than in California. Rent is about 21% 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 Foothill Farms, up about 6.9% and 6.6% a year respectively. Home prices are changing faster.
Median rent in Foothill Farms rose about 58.8% between 2015 and 2023, from $973 to $1,546. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 5.3 yearly household incomes in Foothill Farms.
Buying the median-priced home in Foothill Farms costs roughly 18.8 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 Foothill Farms. The price-to-rent ratio in California is about 27.4.
| Metric | Foothill Farms | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $348,453 | $642,203 | $242,182 |
| Median Household Income | $65,935 | $96,718 | $78,145 |
| Price-to-Income Ratio | 5.3 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Foothill Farms rose about 68.3%, while median household income rose about 42.5% 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 | Foothill Farms | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.1% | 51.6% | 58.2% |
| Rental Rate | 49.6% | 40.9% | 31.3% |
| Vacancy Rate | 3.3% | 7.6% | 10.6% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Foothill Farms has a homeownership rate of 47.1%, lower than the California average of 51.6%. Its housing vacancy rate is 3.3%, compared with 7.6% in California.
Housing Stock
| Metric | Foothill Farms | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.90 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1977 | 1975 | 1978 |
| Median Number of Rooms | 4.7 | 5.0 | 5.5 |
The typical housing unit in Foothill Farms was built around 1977. On average, 2.9 people live in a home with about 4.7 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Foothill Farms, California.
What is the median home price in Foothill Farms, California?
The median home price in Foothill Farms, California is $348,453, lower than the California average of $642,203.
What is the average home price in Foothill Farms, 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 Foothill Farms, California?
The median gross rent in Foothill Farms, California is $1,546 per month, lower than the California average of $1,955.
What was the median gross rent in Foothill Farms in 2020?
In 2020, the median gross rent in Foothill Farms, California was $1,252 per month.
What is the price-to-rent ratio in Foothill Farms, California?
The price-to-rent ratio in Foothill Farms, California is about 18.8, meaning it would take roughly 18.8 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 Foothill Farms.
Are home prices or rent rising faster in Foothill Farms, California?
Both home prices and rent are rising in Foothill Farms, up about 6.9% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Foothill Farms, California?
47.1% of households in Foothill Farms, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in Foothill Farms, California?
The housing vacancy rate in Foothill Farms, California is 3.3%, lower than the California average of 7.6%.