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 | Placentia | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $929,294 | $642,203 | $242,182 |
| Price Trend (Annual %) | 11.0% | 10.0% | 8.2% |
| Median Gross Rent | $2,213 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Placentia is about 45% higher than in California. Rent is about 13% higher 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 Placentia, up about 11.0% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Placentia rose about 51.0% between 2015 and 2023, from $1,465 to $2,213. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 8.8 yearly household incomes in Placentia.
Buying the median-priced home in Placentia costs roughly 35.0 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 Placentia. The price-to-rent ratio in California is about 27.4.
| Metric | Placentia | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $929,294 | $642,203 | $242,182 |
| Median Household Income | $105,411 | $96,718 | $78,145 |
| Price-to-Income Ratio | 8.8 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Placentia rose about 105.0%, while median household income rose about 41.7% 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 | Placentia | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.5% | 51.6% | 58.2% |
| Rental Rate | 39.7% | 40.9% | 31.3% |
| Vacancy Rate | 3.8% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Placentia has a homeownership rate of 56.5%, higher than the California average of 51.6%. Its housing vacancy rate is 3.8%, compared with 7.6% in California.
Housing Stock
| Metric | Placentia | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.00 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1981 | 1975 | 1978 |
| Median Number of Rooms | 5.4 | 5.0 | 5.5 |
The typical housing unit in Placentia was built around 1981. On average, 3.0 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Placentia, California.
What is the median home price in Placentia, California?
The median home price in Placentia, California is $929,294, higher than the California average of $642,203.
What is the average home price in Placentia, 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 Placentia, California?
The median gross rent in Placentia, California is $2,213 per month, higher than the California average of $1,955.
What was the median gross rent in Placentia in 2020?
In 2020, the median gross rent in Placentia, California was $1,815 per month.
What is the price-to-rent ratio in Placentia, California?
The price-to-rent ratio in Placentia, California is about 35.0, meaning it would take roughly 35.0 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 Placentia.
Are home prices or rent rising faster in Placentia, California?
Both home prices and rent are rising in Placentia, up about 11.0% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Placentia, California?
56.5% of households in Placentia, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Placentia, California?
The housing vacancy rate in Placentia, California is 3.8%, lower than the California average of 7.6%.