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 | Porterville | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $24,169 | $642,203 | $242,182 |
| Price Trend (Annual %) | 32.1% | 10.0% | 8.2% |
| Median Gross Rent | $1,075 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Porterville is about 96% lower than in California. Rent is about 45% 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 Porterville, up about 32.1% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Porterville rose about 37.5% between 2015 and 2023, from $782 to $1,075. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 0.4 yearly household incomes in Porterville.
Buying the median-priced home in Porterville costs roughly 1.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Porterville. The price-to-rent ratio in California is about 27.4.
| Metric | Porterville | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $24,169 | $642,203 | $242,182 |
| Median Household Income | $57,862 | $96,718 | $78,145 |
| Price-to-Income Ratio | 0.4 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Porterville fell about 70.6%, while median household income rose about 62.5% 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 | Porterville | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.7% | 51.6% | 58.2% |
| Rental Rate | 44.6% | 40.9% | 31.3% |
| Vacancy Rate | 3.7% | 7.6% | 10.6% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Porterville has a homeownership rate of 51.7%, about the same as the California average of 51.6%. Its housing vacancy rate is 3.7%, compared with 7.6% in California.
Housing Stock
| Metric | Porterville | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.24 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1977 | 1975 | 1978 |
| Median Number of Rooms | 5.1 | 5.0 | 5.5 |
The typical housing unit in Porterville was built around 1977. On average, 3.2 people live in a home with about 5.1 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Porterville, California.
What is the median home price in Porterville, California?
The median home price in Porterville, California is $24,169, lower than the California average of $642,203.
What is the average home price in Porterville, 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 Porterville, California?
The median gross rent in Porterville, California is $1,075 per month, lower than the California average of $1,955.
What was the median gross rent in Porterville in 2020?
In 2020, the median gross rent in Porterville, California was $934 per month.
What is the price-to-rent ratio in Porterville, California?
The price-to-rent ratio in Porterville, California is about 1.9, meaning it would take roughly 1.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Porterville.
Are home prices or rent rising faster in Porterville, California?
Both home prices and rent are rising in Porterville, up about 32.1% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Porterville, California?
51.7% of households in Porterville, California own their home, about the same as the California average.
What is the vacancy rate in Porterville, California?
The housing vacancy rate in Porterville, California is 3.7%, lower than the California average of 7.6%.