Lake Forest, California Housing Market Prices
Lake Forest 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 44% above the California median$940,329
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Median rent 32% above the California median$2,697
Housing Market Overview
| Metric | Lake Forest | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $940,329 | $650,794 | $248,835 |
| Price Trend (Annual %) | 8.6% | 8.9% | 7.5% |
| Median Gross Rent | $2,697 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.3% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lake Forest is about 44% higher than in California. Rent is about 32% higher than the California 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 Lake Forest, up about 8.6% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Lake Forest rose about 58.3% between 2015 and 2024, from $1,704 to $2,697. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 6.9 yearly household incomes in Lake Forest.
Buying the median-priced home in Lake Forest costs roughly 29.1 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 Lake Forest. The price-to-rent ratio in California is about 26.6.
| Metric | Lake Forest | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $940,329 | $650,794 | $248,835 |
| Median Household Income | $137,212 | $99,161 | $80,455 |
| Price-to-Income Ratio | 6.9 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lake Forest rose about 93.1%, while median household income rose about 43.5% 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 | Lake Forest | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.7% | 51.7% | 58.5% |
| Rental Rate | 29.6% | 40.8% | 31.2% |
| Vacancy Rate | 3.8% | 7.5% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Lake Forest has a homeownership rate of 66.7%, higher than the California average of 51.7%. Its housing vacancy rate is 3.8%, compared with 7.5% in California.
Housing Stock
| Metric | Lake Forest | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.88 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1984 | 1975 | 1978 |
| Median Number of Rooms | 5.5 | 5.0 | 5.5 |
The typical housing unit in Lake Forest was built around 1984. On average, 2.9 people live in a home with about 5.5 rooms, staying for about 14.0 years on average.
Lake Forest, CA Housing Compared With Nearby Cities
How Lake Forest, CA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lake Forest, CA | 77,757 | $940,329 #2/2 | $2,697 #2/2 | 69.3% #2/2 |
| Mission Viejo, CA | 95,648 | $1,283,174 | $2,813 | 76.9% |
Frequently Asked Questions
Common questions about the housing market in Lake Forest, California.
What is the median home price in Lake Forest, California?
The median home price in Lake Forest, California is $940,329, higher than the California average of $650,794.
What is the average home price in Lake Forest, California?
The typical home price in Lake Forest, California, reported as the median sale price, is $940,329. 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 Lake Forest, California?
The median gross rent in Lake Forest, California is $2,697 per month, higher than the California average of $2,036.
What was the median gross rent in Lake Forest in 2020?
In 2020, the median gross rent in Lake Forest, California was $2,135 per month.
What is the price-to-rent ratio in Lake Forest, California?
The price-to-rent ratio in Lake Forest, California is about 29.1, meaning it would take roughly 29.1 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 Lake Forest.
Are home prices or rent rising faster in Lake Forest, California?
Both home prices and rent are rising in Lake Forest, up about 8.6% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lake Forest, California?
66.7% of households in Lake Forest, California own their home, higher than the California average of 51.7%.
What is the vacancy rate in Lake Forest, California?
The housing vacancy rate in Lake Forest, California is 3.8%, lower than the California average of 7.5%.
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