California Housing Market Prices
California Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 162% above the US median Most expensive state in US$650,794
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Median rent 45% above the US median Most expensive state in US$2,036
Median Home Price Map: Counties in California
Housing Market Overview
| Metric | California | US Average |
|---|---|---|
| Median Home Price | $650,794 | $248,835 |
| Price Trend (Annual %) | 8.9% | 7.5% |
| Median Gross Rent | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in California is about 162% higher than in US. Rent is about 45% higher than the US average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in California, up about 8.9% and 5.8% a year respectively. Home prices are changing faster.
Median rent in California rose about 62.2% between 2015 and 2024, from $1,255 to $2,036. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 6.6 yearly household incomes in California.
Buying the median-priced home in California costs roughly 26.6 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 California. The price-to-rent ratio in US is about 14.7.
| Metric | California | US Average |
|---|---|---|
| Median Home Price | $650,794 | $248,835 |
| Median Household Income | $99,161 | $80,455 |
| Price-to-Income Ratio | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in California rose about 124.6%, while median household income rose about 59.7% between 2009 and 2025 — 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 | California | US Average |
|---|---|---|
| Homeownership Rate | 51.7% | 58.5% |
| Rental Rate | 40.8% | 31.2% |
| Vacancy Rate | 7.5% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 |
California has a homeownership rate of 51.7%, lower than the US average of 58.5%. Its housing vacancy rate is 7.5%, compared with 10.2% in US.
Housing Stock
| Metric | California | US Average |
|---|---|---|
| Average Household Size | 2.84 people | 2.53 people |
| Median Structure Built Year | 1975 | 1978 |
| Median Number of Rooms | 5.0 | 5.5 |
The typical housing unit in California was built around 1975. On average, 2.8 people live in a home with about 5.0 rooms, staying for about 15.0 years on average.
California Housing Compared With Nearby States
California is the largest of the 6 states compared here, 39,245,658 residents against a local median of 3,390,702. Where California breaks from the states next to it is median home price, sitting 65% above the local median of $394,140 at $650,794.
Median rent tells the same story from another angle: $2,036 against a local median of $1,525, 33% above it. The one measure here that carries a verdict is homeownership, and at 17% below the local median it puts California at the weaker end of the local range. The states themselves sit within $140,794 of each other on median home price, a tighter band than the gap between any of them and California, which makes it a genuine outlier here rather than one end of a wide local spread. California has the highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| California | 39,245,658 | $650,794 #1/6 | $2,036 #1/6 | 55.9% #6/6 |
| Nevada | 3,183,702 | $357,758 | $1,597 | 60.0% |
| Oregon | 4,252,306 | $406,603 | $1,525 | 63.3% |
| Utah | 3,390,702 | $498,552 | $1,495 | 70.3% |
| Arizona | 7,356,359 | $367,851 | $1,543 | 67.4% |
| Idaho | 1,929,983 | $394,140 | $1,236 | 72.3% |
Frequently Asked Questions
Common questions about the housing market in California.
What is the median home price in California?
The median home price in California is $650,794, higher than the US average of $248,835.
What is the average home price in California?
The typical home price in California, reported as the median sale price, is $650,794. 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 California?
The median gross rent in California is $2,036 per month, higher than the US average of $1,407.
What was the median gross rent in California in 2020?
In 2020, the median gross rent in California was $1,586 per month.
What is the price-to-rent ratio in California?
The price-to-rent ratio in California is about 26.6, meaning it would take roughly 26.6 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 California.
Are home prices or rent rising faster in California?
Both home prices and rent are rising in California, up about 8.9% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in California?
51.7% of households in California own their home, lower than the US average of 58.5%.
What is the vacancy rate in California?
The housing vacancy rate in California is 7.5%, lower than the US average of 10.2%.
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