Morgan Hill, California Housing Market Prices
Morgan Hill 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.
-
Median home price 51% below the California median$320,312
-
Median rent 18% above the California median$2,412
Housing Market Overview
| Metric | Morgan Hill | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $320,312 | $650,794 | $248,835 |
| Price Trend (Annual %) | 1.4% | 8.9% | 7.5% |
| Median Gross Rent | $2,412 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Morgan Hill is about 51% lower than in California. Rent is about 18% higher 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 Morgan Hill, up about 1.4% and 5.0% a year respectively. Rent is changing faster.
Median rent in Morgan Hill rose about 49.8% between 2015 and 2024, from $1,610 to $2,412. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Morgan Hill.
Buying the median-priced home in Morgan Hill costs roughly 11.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Morgan Hill. The price-to-rent ratio in California is about 26.6.
| Metric | Morgan Hill | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $320,312 | $650,794 | $248,835 |
| Median Household Income | $159,861 | $99,161 | $80,455 |
| Price-to-Income Ratio | 2.0 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Morgan Hill fell about 48.6%, while median household income rose about 64.2% between 2009 and 2025 — 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 | Morgan Hill | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.6% | 51.7% | 58.5% |
| Rental Rate | 31.4% | 40.8% | 31.2% |
| Vacancy Rate | 5.1% | 7.5% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Morgan Hill has a homeownership rate of 63.6%, higher than the California average of 51.7%. Its housing vacancy rate is 5.1%, compared with 7.5% in California.
Housing Stock
| Metric | Morgan Hill | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.04 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1990 | 1975 | 1978 |
| Median Number of Rooms | 5.7 | 5.0 | 5.5 |
The typical housing unit in Morgan Hill was built around 1990. On average, 3.0 people live in a home with about 5.7 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Morgan Hill, California.
What is the median home price in Morgan Hill, California?
The median home price in Morgan Hill, California is $320,312, lower than the California average of $650,794.
What is the average home price in Morgan Hill, California?
The typical home price in Morgan Hill, California, reported as the median sale price, is $320,312. 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 Morgan Hill, California?
The median gross rent in Morgan Hill, California is $2,412 per month, higher than the California average of $2,036.
What was the median gross rent in Morgan Hill in 2020?
In 2020, the median gross rent in Morgan Hill, California was $1,823 per month.
What is the price-to-rent ratio in Morgan Hill, California?
The price-to-rent ratio in Morgan Hill, California is about 11.1, meaning it would take roughly 11.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Morgan Hill.
Are home prices or rent rising faster in Morgan Hill, California?
Both home prices and rent are rising in Morgan Hill, up about 1.4% and 5.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Morgan Hill, California?
63.6% of households in Morgan Hill, California own their home, higher than the California average of 51.7%.
What is the vacancy rate in Morgan Hill, California?
The housing vacancy rate in Morgan Hill, California is 5.1%, lower than the California average of 7.5%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →