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 Tustin | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $871,205 | $642,203 | $242,182 |
| Price Trend (Annual %) | -7.3% | 10.0% | 8.2% |
| Median Gross Rent | $2,363 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.4% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in North Tustin is about 36% higher than in California. Rent is about 21% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in North Tustin: home prices fell about 7.3% a year while rent rose about 5.4% a year. That is an unusual pattern worth watching.
Median rent in North Tustin rose about 41.2% between 2015 and 2023, from $1,674 to $2,363. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in North Tustin.
Buying the median-priced home in North Tustin costs roughly 30.7 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 North Tustin. The price-to-rent ratio in California is about 27.4.
| Metric | North Tustin | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $871,205 | $642,203 | $242,182 |
| Median Household Income | $173,149 | $96,718 | $78,145 |
| Price-to-Income Ratio | 5.0 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in North Tustin fell about 11.2%, while median household income rose about 61.6% 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 | North Tustin | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 81.0% | 51.6% | 58.2% |
| Rental Rate | 15.9% | 40.9% | 31.3% |
| Vacancy Rate | 3.1% | 7.6% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
North Tustin has a homeownership rate of 81.0%, higher than the California average of 51.6%. Its housing vacancy rate is 3.1%, compared with 7.6% in California.
Housing Stock
| Metric | North Tustin | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.86 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1967 | 1975 | 1978 |
| Median Number of Rooms | 7.0 | 5.0 | 5.5 |
The typical housing unit in North Tustin was built around 1967. On average, 2.9 people live in a home with about 7.0 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in North Tustin, California.
What is the median home price in North Tustin, California?
The median home price in North Tustin, California is $871,205, higher than the California average of $642,203.
What is the average home price in North Tustin, 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 Tustin, California?
The median gross rent in North Tustin, California is $2,363 per month, higher than the California average of $1,955.
What was the median gross rent in North Tustin in 2020?
In 2020, the median gross rent in North Tustin, California was $1,932 per month.
What is the price-to-rent ratio in North Tustin, California?
The price-to-rent ratio in North Tustin, California is about 30.7, meaning it would take roughly 30.7 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 North Tustin.
Are home prices or rent rising faster in North Tustin, California?
Home prices and rent are moving in opposite directions in North Tustin: home prices fell about 7.3% a year while rent rose about 5.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in North Tustin, California?
81.0% of households in North Tustin, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in North Tustin, California?
The housing vacancy rate in North Tustin, California is 3.1%, lower than the California average of 7.6%.