Merced, California Housing Market Prices
Merced 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 53% below the California median$303,990
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Median rent 33% below the California median$1,357
Housing Market Overview
| Metric | Merced | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $303,990 | $650,794 | $248,835 |
| Price Trend (Annual %) | 12.0% | 8.9% | 7.5% |
| Median Gross Rent | $1,357 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 6.8% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Merced is about 53% lower than in California. Rent is about 33% lower 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 Merced, up about 12.0% and 6.8% a year respectively. Home prices are changing faster.
Median rent in Merced rose about 72.3% between 2015 and 2024, from $787 to $1,357. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 5.1 yearly household incomes in Merced.
Buying the median-priced home in Merced costs roughly 18.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Merced. The price-to-rent ratio in California is about 26.6.
| Metric | Merced | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $303,990 | $650,794 | $248,835 |
| Median Household Income | $59,646 | $99,161 | $80,455 |
| Price-to-Income Ratio | 5.1 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Merced rose about 152.3%, while median household income rose about 70.3% 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 | Merced | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 38.6% | 51.7% | 58.5% |
| Rental Rate | 55.5% | 40.8% | 31.2% |
| Vacancy Rate | 5.9% | 7.5% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Merced has a homeownership rate of 38.6%, lower than the California average of 51.7%. Its housing vacancy rate is 5.9%, compared with 7.5% in California.
Housing Stock
| Metric | Merced | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.13 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1979 | 1975 | 1978 |
| Median Number of Rooms | 5.1 | 5.0 | 5.5 |
The typical housing unit in Merced was built around 1979. On average, 3.1 people live in a home with about 5.1 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Merced, California.
What is the median home price in Merced, California?
The median home price in Merced, California is $303,990, lower than the California average of $650,794.
What is the average home price in Merced, California?
The typical home price in Merced, California, reported as the median sale price, is $303,990. 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 Merced, California?
The median gross rent in Merced, California is $1,357 per month, lower than the California average of $2,036.
What was the median gross rent in Merced in 2020?
In 2020, the median gross rent in Merced, California was $990 per month.
What is the price-to-rent ratio in Merced, California?
The price-to-rent ratio in Merced, California is about 18.7, meaning it would take roughly 18.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Merced.
Are home prices or rent rising faster in Merced, California?
Both home prices and rent are rising in Merced, up about 12.0% and 6.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Merced, California?
38.6% of households in Merced, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in Merced, California?
The housing vacancy rate in Merced, California is 5.9%, lower than the California average of 7.5%.
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