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 | Lemon Grove | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $705,499 | $642,203 | $242,182 |
| Price Trend (Annual %) | 8.2% | 10.0% | 8.2% |
| Median Gross Rent | $1,765 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.6% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lemon Grove is about 10% higher than in California. Rent is about 10% 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 Lemon Grove, up about 8.2% and 5.6% a year respectively. Home prices are changing faster.
Median rent in Lemon Grove rose about 52.6% between 2015 and 2023, from $1,157 to $1,765. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 8.6 yearly household incomes in Lemon Grove.
Buying the median-priced home in Lemon Grove costs roughly 33.3 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 Lemon Grove. The price-to-rent ratio in California is about 27.4.
| Metric | Lemon Grove | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $705,499 | $642,203 | $242,182 |
| Median Household Income | $81,681 | $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 Lemon Grove rose about 99.7%, while median household income rose about 63.4% 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 | Lemon Grove | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.2% | 51.6% | 58.2% |
| Rental Rate | 43.9% | 40.9% | 31.3% |
| Vacancy Rate | 2.9% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Lemon Grove has a homeownership rate of 53.2%, higher than the California average of 51.6%. Its housing vacancy rate is 2.9%, compared with 7.6% in California.
Housing Stock
| Metric | Lemon Grove | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.01 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1967 | 1975 | 1978 |
| Median Number of Rooms | 4.9 | 5.0 | 5.5 |
The typical housing unit in Lemon Grove was built around 1967. On average, 3.0 people live in a home with about 4.9 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lemon Grove, California.
What is the median home price in Lemon Grove, California?
The median home price in Lemon Grove, California is $705,499, higher than the California average of $642,203.
What is the average home price in Lemon Grove, 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 Lemon Grove, California?
The median gross rent in Lemon Grove, California is $1,765 per month, lower than the California average of $1,955.
What was the median gross rent in Lemon Grove in 2020?
In 2020, the median gross rent in Lemon Grove, California was $1,422 per month.
What is the price-to-rent ratio in Lemon Grove, California?
The price-to-rent ratio in Lemon Grove, California is about 33.3, meaning it would take roughly 33.3 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 Lemon Grove.
Are home prices or rent rising faster in Lemon Grove, California?
Both home prices and rent are rising in Lemon Grove, up about 8.2% and 5.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lemon Grove, California?
53.2% of households in Lemon Grove, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Lemon Grove, California?
The housing vacancy rate in Lemon Grove, California is 2.9%, lower than the California average of 7.6%.