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.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Placer County | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $614,815 | $642,203 | $242,182 |
| Price Trend (Annual %) | 7.8% | 10.0% | 8.2% |
| Median Gross Rent | $1,990 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Placer County is about 4% lower than in California. Rent is about 2% 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 Placer County, up about 7.8% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Placer County rose about 52.8% between 2015 and 2023, from $1,302 to $1,990. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 5.3 yearly household incomes in Placer County.
Buying the median-priced home in Placer County costs roughly 25.7 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 Placer County. The price-to-rent ratio in California is about 27.4.
| Metric | Placer County | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $614,815 | $642,203 | $242,182 |
| Median Household Income | $114,929 | $96,718 | $78,145 |
| Price-to-Income Ratio | 5.3 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Placer County rose about 93.0%, while median household income rose about 56.4% 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 | Placer County | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.5% | 51.6% | 58.2% |
| Rental Rate | 22.7% | 40.9% | 31.3% |
| Vacancy Rate | 11.8% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Placer County has a homeownership rate of 65.5%, higher than the California average of 51.6%. Its housing vacancy rate is 11.8%, compared with 7.6% in California.
Housing Stock
| Metric | Placer County | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.62 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1991 | 1975 | 1978 |
| Median Number of Rooms | 5.9 | 5.0 | 5.5 |
The typical housing unit in Placer County was built around 1991. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Placer County, California.
What is the median home price in Placer County, California?
The median home price in Placer County, California is $614,815, lower than the California average of $642,203.
What is the average home price in Placer County, 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 Placer County, California?
The median gross rent in Placer County, California is $1,990 per month, higher than the California average of $1,955.
What was the median gross rent in Placer County in 2020?
In 2020, the median gross rent in Placer County, California was $1,616 per month.
What is the price-to-rent ratio in Placer County, California?
The price-to-rent ratio in Placer County, California is about 25.7, meaning it would take roughly 25.7 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 Placer County.
Are home prices or rent rising faster in Placer County, California?
Both home prices and rent are rising in Placer County, up about 7.8% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Placer County, California?
65.5% of households in Placer County, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Placer County, California?
The housing vacancy rate in Placer County, California is 11.8%, higher than the California average of 7.6%.