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 | Montclair | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $552,707 | $642,203 | $242,182 |
| Price Trend (Annual %) | 16.4% | 10.0% | 8.2% |
| Median Gross Rent | $1,737 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.0% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Montclair is about 14% lower than in California. Rent is about 11% 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 Montclair, up about 16.4% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Montclair rose about 53.4% between 2015 and 2023, from $1,133 to $1,737. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 7.2 yearly household incomes in Montclair.
Buying the median-priced home in Montclair costs roughly 26.5 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 Montclair. The price-to-rent ratio in California is about 27.4.
| Metric | Montclair | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $552,707 | $642,203 | $242,182 |
| Median Household Income | $76,397 | $96,718 | $78,145 |
| Price-to-Income Ratio | 7.2 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Montclair rose about 147.3%, while median household income rose about 41.4% 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 | Montclair | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.4% | 51.6% | 58.2% |
| Rental Rate | 45.9% | 40.9% | 31.3% |
| Vacancy Rate | 2.7% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Montclair has a homeownership rate of 51.4%, about the same as the California average of 51.6%. Its housing vacancy rate is 2.7%, compared with 7.6% in California.
Housing Stock
| Metric | Montclair | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.61 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1971 | 1975 | 1978 |
| Median Number of Rooms | 5.1 | 5.0 | 5.5 |
The typical housing unit in Montclair was built around 1971. On average, 3.6 people live in a home with about 5.1 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Montclair, California.
What is the median home price in Montclair, California?
The median home price in Montclair, California is $552,707, lower than the California average of $642,203.
What is the average home price in Montclair, 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 Montclair, California?
The median gross rent in Montclair, California is $1,737 per month, lower than the California average of $1,955.
What was the median gross rent in Montclair in 2020?
In 2020, the median gross rent in Montclair, California was $1,441 per month.
What is the price-to-rent ratio in Montclair, California?
The price-to-rent ratio in Montclair, California is about 26.5, meaning it would take roughly 26.5 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 Montclair.
Are home prices or rent rising faster in Montclair, California?
Both home prices and rent are rising in Montclair, up about 16.4% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Montclair, California?
51.4% of households in Montclair, California own their home, about the same as the California average.
What is the vacancy rate in Montclair, California?
The housing vacancy rate in Montclair, California is 2.7%, lower than the California average of 7.6%.