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 | Rancho San Diego | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $875,000 | $642,203 | $242,182 |
| Price Trend (Annual %) | 11.3% | 10.0% | 8.2% |
| Median Gross Rent | $2,427 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rancho San Diego is about 36% higher than in California. Rent is about 24% 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 Rancho San Diego, up about 11.3% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Rancho San Diego rose about 52.9% between 2015 and 2023, from $1,588 to $2,427. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 7.6 yearly household incomes in Rancho San Diego.
Buying the median-priced home in Rancho San Diego costs roughly 30.0 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 Rancho San Diego. The price-to-rent ratio in California is about 27.4.
| Metric | Rancho San Diego | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $875,000 | $642,203 | $242,182 |
| Median Household Income | $115,444 | $96,718 | $78,145 |
| Price-to-Income Ratio | 7.6 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Rancho San Diego rose about 96.2%, while median household income rose about 32.4% 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 | Rancho San Diego | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.9% | 51.6% | 58.2% |
| Rental Rate | 24.5% | 40.9% | 31.3% |
| Vacancy Rate | 6.6% | 7.6% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Rancho San Diego has a homeownership rate of 68.9%, higher than the California average of 51.6%. Its housing vacancy rate is 6.6%, compared with 7.6% in California.
Housing Stock
| Metric | Rancho San Diego | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.87 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1983 | 1975 | 1978 |
| Median Number of Rooms | 6.0 | 5.0 | 5.5 |
The typical housing unit in Rancho San Diego was built around 1983. On average, 2.9 people live in a home with about 6.0 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rancho San Diego, California.
What is the median home price in Rancho San Diego, California?
The median home price in Rancho San Diego, California is $875,000, higher than the California average of $642,203.
What is the average home price in Rancho San Diego, 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 Rancho San Diego, California?
The median gross rent in Rancho San Diego, California is $2,427 per month, higher than the California average of $1,955.
What was the median gross rent in Rancho San Diego in 2020?
In 2020, the median gross rent in Rancho San Diego, California was $1,907 per month.
What is the price-to-rent ratio in Rancho San Diego, California?
The price-to-rent ratio in Rancho San Diego, California is about 30.0, meaning it would take roughly 30.0 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 Rancho San Diego.
Are home prices or rent rising faster in Rancho San Diego, California?
Both home prices and rent are rising in Rancho San Diego, up about 11.3% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Rancho San Diego, California?
68.9% of households in Rancho San Diego, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Rancho San Diego, California?
The housing vacancy rate in Rancho San Diego, California is 6.6%, lower than the California average of 7.6%.