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 | Ramona | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $618,710 | $642,203 | $242,182 |
| Price Trend (Annual %) | 201.9% | 10.0% | 8.2% |
| Median Gross Rent | $1,787 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.5% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ramona is about 4% lower than in California. Rent is about 9% 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 Ramona, up about 201.9% and 6.5% a year respectively. Home prices are changing faster.
Median rent in Ramona rose about 60.8% between 2015 and 2023, from $1,111 to $1,787. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 6.2 yearly household incomes in Ramona.
Buying the median-priced home in Ramona costs roughly 28.9 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 Ramona. The price-to-rent ratio in California is about 27.4.
| Metric | Ramona | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $618,710 | $642,203 | $242,182 |
| Median Household Income | $99,122 | $96,718 | $78,145 |
| Price-to-Income Ratio | 6.2 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Ramona rose about 1545.7%, while median household income rose about 57.7% 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 | Ramona | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.9% | 51.6% | 58.2% |
| Rental Rate | 32.9% | 40.9% | 31.3% |
| Vacancy Rate | 3.2% | 7.6% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Ramona has a homeownership rate of 63.9%, higher than the California average of 51.6%. Its housing vacancy rate is 3.2%, compared with 7.6% in California.
Housing Stock
| Metric | Ramona | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.08 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1982 | 1975 | 1978 |
| Median Number of Rooms | 5.0 | 5.0 | 5.5 |
The typical housing unit in Ramona was built around 1982. On average, 3.1 people live in a home with about 5.0 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ramona, California.
What is the median home price in Ramona, California?
The median home price in Ramona, California is $618,710, lower than the California average of $642,203.
What is the average home price in Ramona, 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 Ramona, California?
The median gross rent in Ramona, California is $1,787 per month, lower than the California average of $1,955.
What was the median gross rent in Ramona in 2020?
In 2020, the median gross rent in Ramona, California was $1,466 per month.
What is the price-to-rent ratio in Ramona, California?
The price-to-rent ratio in Ramona, California is about 28.9, meaning it would take roughly 28.9 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 Ramona.
Are home prices or rent rising faster in Ramona, California?
Both home prices and rent are rising in Ramona, up about 201.9% and 6.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Ramona, California?
63.9% of households in Ramona, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Ramona, California?
The housing vacancy rate in Ramona, California is 3.2%, lower than the California average of 7.6%.