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 | Fullerton | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $806,433 | $642,203 | $242,182 |
| Price Trend (Annual %) | 8.8% | 10.0% | 8.2% |
| Median Gross Rent | $2,131 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.2% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fullerton is about 26% higher than in California. Rent is about 9% 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 Fullerton, up about 8.8% and 6.2% a year respectively. Home prices are changing faster.
Median rent in Fullerton rose about 58.4% between 2015 and 2023, from $1,345 to $2,131. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 7.7 yearly household incomes in Fullerton.
Buying the median-priced home in Fullerton costs roughly 31.5 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 Fullerton. The price-to-rent ratio in California is about 27.4.
| Metric | Fullerton | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $806,433 | $642,203 | $242,182 |
| Median Household Income | $105,336 | $96,718 | $78,145 |
| Price-to-Income Ratio | 7.7 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fullerton rose about 70.6%, while median household income rose about 57.0% 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 | Fullerton | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.0% | 51.6% | 58.2% |
| Rental Rate | 45.7% | 40.9% | 31.3% |
| Vacancy Rate | 4.3% | 7.6% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Fullerton has a homeownership rate of 50.0%, lower than the California average of 51.6%. Its housing vacancy rate is 4.3%, compared with 7.6% in California.
Housing Stock
| Metric | Fullerton | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.92 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1970 | 1975 | 1978 |
| Median Number of Rooms | 4.9 | 5.0 | 5.5 |
The typical housing unit in Fullerton was built around 1970. On average, 2.9 people live in a home with about 4.9 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fullerton, California.
What is the median home price in Fullerton, California?
The median home price in Fullerton, California is $806,433, higher than the California average of $642,203.
What is the average home price in Fullerton, 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 Fullerton, California?
The median gross rent in Fullerton, California is $2,131 per month, higher than the California average of $1,955.
What was the median gross rent in Fullerton in 2020?
In 2020, the median gross rent in Fullerton, California was $1,719 per month.
What is the price-to-rent ratio in Fullerton, California?
The price-to-rent ratio in Fullerton, California is about 31.5, meaning it would take roughly 31.5 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 Fullerton.
Are home prices or rent rising faster in Fullerton, California?
Both home prices and rent are rising in Fullerton, up about 8.8% and 6.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fullerton, California?
50.0% of households in Fullerton, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in Fullerton, California?
The housing vacancy rate in Fullerton, California is 4.3%, lower than the California average of 7.6%.