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 | Orangevale | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $593,112 | $642,203 | $242,182 |
| Price Trend (Annual %) | 11.1% | 10.0% | 8.2% |
| Median Gross Rent | $1,877 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.5% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Orangevale is about 8% lower than in California. Rent is about 4% 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 Orangevale, up about 11.1% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Orangevale rose about 46.5% between 2015 and 2023, from $1,281 to $1,877. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 6.0 yearly household incomes in Orangevale.
Buying the median-priced home in Orangevale costs roughly 26.3 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 Orangevale. The price-to-rent ratio in California is about 27.4.
| Metric | Orangevale | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $593,112 | $642,203 | $242,182 |
| Median Household Income | $98,624 | $96,718 | $78,145 |
| Price-to-Income Ratio | 6.0 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Orangevale rose about 115.5%, while median household income rose about 37.2% 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 | Orangevale | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.6% | 51.6% | 58.2% |
| Rental Rate | 22.4% | 40.9% | 31.3% |
| Vacancy Rate | 5.0% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Orangevale has a homeownership rate of 72.6%, higher than the California average of 51.6%. Its housing vacancy rate is 5.0%, compared with 7.6% in California.
Housing Stock
| Metric | Orangevale | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1975 | 1975 | 1978 |
| Median Number of Rooms | 5.8 | 5.0 | 5.5 |
The typical housing unit in Orangevale was built around 1975. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Orangevale, California.
What is the median home price in Orangevale, California?
The median home price in Orangevale, California is $593,112, lower than the California average of $642,203.
What is the average home price in Orangevale, 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 Orangevale, California?
The median gross rent in Orangevale, California is $1,877 per month, lower than the California average of $1,955.
What was the median gross rent in Orangevale in 2020?
In 2020, the median gross rent in Orangevale, California was $1,513 per month.
What is the price-to-rent ratio in Orangevale, California?
The price-to-rent ratio in Orangevale, California is about 26.3, meaning it would take roughly 26.3 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 Orangevale.
Are home prices or rent rising faster in Orangevale, California?
Both home prices and rent are rising in Orangevale, up about 11.1% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Orangevale, California?
72.6% of households in Orangevale, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Orangevale, California?
The housing vacancy rate in Orangevale, California is 5.0%, lower than the California average of 7.6%.