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 | North Highlands | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $398,528 | $642,203 | $242,182 |
| Price Trend (Annual %) | 16.1% | 10.0% | 8.2% |
| Median Gross Rent | $1,587 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 7.0% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in North Highlands is about 38% lower than in California. Rent is about 19% 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 North Highlands, up about 16.1% and 7.0% a year respectively. Home prices are changing faster.
Median rent in North Highlands rose about 65.0% between 2015 and 2023, from $962 to $1,587. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 5.8 yearly household incomes in North Highlands.
Buying the median-priced home in North Highlands costs roughly 20.9 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 North Highlands. The price-to-rent ratio in California is about 27.4.
| Metric | North Highlands | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $398,528 | $642,203 | $242,182 |
| Median Household Income | $68,854 | $96,718 | $78,145 |
| Price-to-Income Ratio | 5.8 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in North Highlands rose about 154.5%, while median household income rose about 58.0% 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 | North Highlands | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.1% | 51.6% | 58.2% |
| Rental Rate | 44.1% | 40.9% | 31.3% |
| Vacancy Rate | 4.8% | 7.6% | 10.6% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
North Highlands has a homeownership rate of 51.1%, about the same as the California average of 51.6%. Its housing vacancy rate is 4.8%, compared with 7.6% in California.
Housing Stock
| Metric | North Highlands | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.06 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 North Highlands was built around 1971. 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 North Highlands, California.
What is the median home price in North Highlands, California?
The median home price in North Highlands, California is $398,528, lower than the California average of $642,203.
What is the average home price in North Highlands, 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 North Highlands, California?
The median gross rent in North Highlands, California is $1,587 per month, lower than the California average of $1,955.
What was the median gross rent in North Highlands in 2020?
In 2020, the median gross rent in North Highlands, California was $1,223 per month.
What is the price-to-rent ratio in North Highlands, California?
The price-to-rent ratio in North Highlands, California is about 20.9, meaning it would take roughly 20.9 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 North Highlands.
Are home prices or rent rising faster in North Highlands, California?
Both home prices and rent are rising in North Highlands, up about 16.1% and 7.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in North Highlands, California?
51.1% of households in North Highlands, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in North Highlands, California?
The housing vacancy rate in North Highlands, California is 4.8%, lower than the California average of 7.6%.