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 | Loma Linda | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $609,278 | $642,203 | $242,182 |
| Price Trend (Annual %) | 8.6% | 10.0% | 8.2% |
| Median Gross Rent | $1,721 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.6% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Loma Linda is about 5% lower than in California. Rent is about 12% 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 Loma Linda, up about 8.6% and 6.6% a year respectively. Home prices are changing faster.
Median rent in Loma Linda rose about 61.2% between 2015 and 2023, from $1,067 to $1,721. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 7.6 yearly household incomes in Loma Linda.
Buying the median-priced home in Loma Linda costs roughly 29.5 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 Loma Linda. The price-to-rent ratio in California is about 27.4.
| Metric | Loma Linda | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $609,278 | $642,203 | $242,182 |
| Median Household Income | $79,746 | $96,718 | $78,145 |
| Price-to-Income Ratio | 7.6 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Loma Linda rose about 55.1%, while median household income rose about 62.5% 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 | Loma Linda | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 32.7% | 51.6% | 58.2% |
| Rental Rate | 58.6% | 40.9% | 31.3% |
| Vacancy Rate | 8.7% | 7.6% | 10.6% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Loma Linda has a homeownership rate of 32.7%, lower than the California average of 51.6%. Its housing vacancy rate is 8.7%, compared with 7.6% in California.
Housing Stock
| Metric | Loma Linda | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.70 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1984 | 1975 | 1978 |
| Median Number of Rooms | 4.5 | 5.0 | 5.5 |
The typical housing unit in Loma Linda was built around 1984. On average, 2.7 people live in a home with about 4.5 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Loma Linda, California.
What is the median home price in Loma Linda, California?
The median home price in Loma Linda, California is $609,278, lower than the California average of $642,203.
What is the average home price in Loma Linda, 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 Loma Linda, California?
The median gross rent in Loma Linda, California is $1,721 per month, lower than the California average of $1,955.
What was the median gross rent in Loma Linda in 2020?
In 2020, the median gross rent in Loma Linda, California was $1,397 per month.
What is the price-to-rent ratio in Loma Linda, California?
The price-to-rent ratio in Loma Linda, California is about 29.5, meaning it would take roughly 29.5 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 Loma Linda.
Are home prices or rent rising faster in Loma Linda, California?
Both home prices and rent are rising in Loma Linda, up about 8.6% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Loma Linda, California?
32.7% of households in Loma Linda, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in Loma Linda, California?
The housing vacancy rate in Loma Linda, California is 8.7%, higher than the California average of 7.6%.