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 | Highland | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,408 | $642,203 | $242,182 |
| Price Trend (Annual %) | 25.4% | 10.0% | 8.2% |
| Median Gross Rent | $1,528 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.7% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Highland is about 60% lower than in California. Rent is about 22% 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 Highland, up about 25.4% and 6.7% a year respectively. Home prices are changing faster.
Median rent in Highland rose about 60.4% between 2015 and 2023, from $952 to $1,528. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Highland.
Buying the median-priced home in Highland costs roughly 14.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Highland. The price-to-rent ratio in California is about 27.4.
| Metric | Highland | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,408 | $642,203 | $242,182 |
| Median Household Income | $76,653 | $96,718 | $78,145 |
| Price-to-Income Ratio | 3.4 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Highland rose about 119.8%, while median household income rose about 40.5% 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 | Highland | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.5% | 51.6% | 58.2% |
| Rental Rate | 34.1% | 40.9% | 31.3% |
| Vacancy Rate | 3.4% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Highland has a homeownership rate of 62.5%, higher than the California average of 51.6%. Its housing vacancy rate is 3.4%, compared with 7.6% in California.
Housing Stock
| Metric | Highland | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.38 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1982 | 1975 | 1978 |
| Median Number of Rooms | 5.4 | 5.0 | 5.5 |
The typical housing unit in Highland was built around 1982. On average, 3.4 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Highland, California.
What is the median home price in Highland, California?
The median home price in Highland, California is $259,408, lower than the California average of $642,203.
What is the average home price in Highland, 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 Highland, California?
The median gross rent in Highland, California is $1,528 per month, lower than the California average of $1,955.
What was the median gross rent in Highland in 2020?
In 2020, the median gross rent in Highland, California was $1,137 per month.
What is the price-to-rent ratio in Highland, California?
The price-to-rent ratio in Highland, California is about 14.1, meaning it would take roughly 14.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Highland.
Are home prices or rent rising faster in Highland, California?
Both home prices and rent are rising in Highland, up about 25.4% and 6.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Highland, California?
62.5% of households in Highland, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Highland, California?
The housing vacancy rate in Highland, California is 3.4%, lower than the California average of 7.6%.