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 | Manhattan Beach | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,000,000 | $642,203 | $242,182 |
| Price Trend (Annual %) | 0.0% | 10.0% | 8.2% |
| Median Gross Rent | $3,491 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.7% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Manhattan Beach is about 211% higher than in California. Rent is about 79% higher 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 falling in Manhattan Beach, down about 0.0% and 6.7% a year respectively. Rent is changing faster.
Median rent in Manhattan Beach rose about 64.5% between 2015 and 2023, from $2,122 to $3,491. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 10.2 yearly household incomes in Manhattan Beach.
Buying the median-priced home in Manhattan Beach costs roughly 47.7 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 Manhattan Beach. The price-to-rent ratio in California is about 27.4.
| Metric | Manhattan Beach | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,000,000 | $642,203 | $242,182 |
| Median Household Income | $196,062 | $96,718 | $78,145 |
| Price-to-Income Ratio | 10.2 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Manhattan Beach rose about 0.0%, while median household income rose about 62.0% 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 | Manhattan Beach | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.9% | 51.6% | 58.2% |
| Rental Rate | 30.2% | 40.9% | 31.3% |
| Vacancy Rate | 10.9% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Manhattan Beach has a homeownership rate of 58.9%, higher than the California average of 51.6%. Its housing vacancy rate is 10.9%, compared with 7.6% in California.
Housing Stock
| Metric | Manhattan Beach | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1973 | 1975 | 1978 |
| Median Number of Rooms | 5.9 | 5.0 | 5.5 |
The typical housing unit in Manhattan Beach was built around 1973. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Manhattan Beach, California.
What is the median home price in Manhattan Beach, California?
The median home price in Manhattan Beach, California is $2,000,000, higher than the California average of $642,203.
What is the average home price in Manhattan Beach, 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 Manhattan Beach, California?
The median gross rent in Manhattan Beach, California is $3,491 per month, higher than the California average of $1,955.
What was the median gross rent in Manhattan Beach in 2020?
In 2020, the median gross rent in Manhattan Beach, California was $2,582 per month.
What is the price-to-rent ratio in Manhattan Beach, California?
The price-to-rent ratio in Manhattan Beach, California is about 47.7, meaning it would take roughly 47.7 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 Manhattan Beach.
Are home prices or rent rising faster in Manhattan Beach, California?
Both home prices and rent are falling in Manhattan Beach, down about 0.0% and 6.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Manhattan Beach, California?
58.9% of households in Manhattan Beach, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Manhattan Beach, California?
The housing vacancy rate in Manhattan Beach, California is 10.9%, higher than the California average of 7.6%.