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 | La Quinta | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $570,263 | $642,203 | $242,182 |
| Price Trend (Annual %) | 3.7% | 10.0% | 8.2% |
| Median Gross Rent | $1,709 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in La Quinta is about 11% lower than in California. Rent is about 13% 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 La Quinta, up about 3.7% and 3.5% a year respectively. Home prices are changing faster.
Median rent in La Quinta rose about 28.8% between 2015 and 2023, from $1,328 to $1,709. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 5.9 yearly household incomes in La Quinta.
Buying the median-priced home in La Quinta costs roughly 27.8 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 La Quinta. The price-to-rent ratio in California is about 27.4.
| Metric | La Quinta | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $570,263 | $642,203 | $242,182 |
| Median Household Income | $95,917 | $96,718 | $78,145 |
| Price-to-Income Ratio | 5.9 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in La Quinta rose about 15.7%, while median household income rose about 41.4% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | La Quinta | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.9% | 51.6% | 58.2% |
| Rental Rate | 16.6% | 40.9% | 31.3% |
| Vacancy Rate | 35.5% | 7.6% | 10.6% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
La Quinta has a homeownership rate of 47.9%, lower than the California average of 51.6%. Its housing vacancy rate is 35.5%, compared with 7.6% in California.
Housing Stock
| Metric | La Quinta | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1995 | 1975 | 1978 |
| Median Number of Rooms | 5.4 | 5.0 | 5.5 |
The typical housing unit in La Quinta was built around 1995. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in La Quinta, California.
What is the median home price in La Quinta, California?
The median home price in La Quinta, California is $570,263, lower than the California average of $642,203.
What is the average home price in La Quinta, 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 La Quinta, California?
The median gross rent in La Quinta, California is $1,709 per month, lower than the California average of $1,955.
What was the median gross rent in La Quinta in 2020?
In 2020, the median gross rent in La Quinta, California was $1,393 per month.
What is the price-to-rent ratio in La Quinta, California?
The price-to-rent ratio in La Quinta, California is about 27.8, meaning it would take roughly 27.8 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 La Quinta.
Are home prices or rent rising faster in La Quinta, California?
Both home prices and rent are rising in La Quinta, up about 3.7% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in La Quinta, California?
47.9% of households in La Quinta, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in La Quinta, California?
The housing vacancy rate in La Quinta, California is 35.5%, higher than the California average of 7.6%.