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 | Hacienda Heights | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $914,837 | $642,203 | $242,182 |
| Price Trend (Annual %) | 12.4% | 10.0% | 8.2% |
| Median Gross Rent | $2,221 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hacienda Heights is about 42% higher than in California. Rent is about 14% 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 Hacienda Heights, up about 12.4% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Hacienda Heights rose about 35.9% between 2015 and 2023, from $1,635 to $2,221. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 8.6 yearly household incomes in Hacienda Heights.
Buying the median-priced home in Hacienda Heights costs roughly 34.3 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 Hacienda Heights. The price-to-rent ratio in California is about 27.4.
| Metric | Hacienda Heights | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $914,837 | $642,203 | $242,182 |
| Median Household Income | $106,788 | $96,718 | $78,145 |
| Price-to-Income Ratio | 8.6 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Hacienda Heights rose about 91.7%, while median household income rose about 52.7% 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 | Hacienda Heights | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.6% | 51.6% | 58.2% |
| Rental Rate | 25.6% | 40.9% | 31.3% |
| Vacancy Rate | 3.8% | 7.6% | 10.6% |
| Median Tenure (years) | 20.0 | 15.0 | 15.0 |
| Median Year Moved In | 2006 | 2011 | 2011 |
Hacienda Heights has a homeownership rate of 70.6%, higher than the California average of 51.6%. Its housing vacancy rate is 3.8%, compared with 7.6% in California.
Housing Stock
| Metric | Hacienda Heights | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.27 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1968 | 1975 | 1978 |
| Median Number of Rooms | 5.9 | 5.0 | 5.5 |
The typical housing unit in Hacienda Heights was built around 1968. On average, 3.3 people live in a home with about 5.9 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hacienda Heights, California.
What is the median home price in Hacienda Heights, California?
The median home price in Hacienda Heights, California is $914,837, higher than the California average of $642,203.
What is the average home price in Hacienda Heights, 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 Hacienda Heights, California?
The median gross rent in Hacienda Heights, California is $2,221 per month, higher than the California average of $1,955.
What was the median gross rent in Hacienda Heights in 2020?
In 2020, the median gross rent in Hacienda Heights, California was $1,854 per month.
What is the price-to-rent ratio in Hacienda Heights, California?
The price-to-rent ratio in Hacienda Heights, California is about 34.3, meaning it would take roughly 34.3 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 Hacienda Heights.
Are home prices or rent rising faster in Hacienda Heights, California?
Both home prices and rent are rising in Hacienda Heights, up about 12.4% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hacienda Heights, California?
70.6% of households in Hacienda Heights, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Hacienda Heights, California?
The housing vacancy rate in Hacienda Heights, California is 3.8%, lower than the California average of 7.6%.