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 | San Gabriel | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $778,252 | $642,203 | $242,182 |
| Price Trend (Annual %) | 6.5% | 10.0% | 8.2% |
| Median Gross Rent | $1,866 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.3% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in San Gabriel is about 21% higher than in California. Rent is about 5% 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 San Gabriel, up about 6.5% and 5.3% a year respectively. Home prices are changing faster.
Median rent in San Gabriel rose about 48.0% between 2015 and 2023, from $1,261 to $1,866. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 8.8 yearly household incomes in San Gabriel.
Buying the median-priced home in San Gabriel costs roughly 34.7 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 San Gabriel. The price-to-rent ratio in California is about 27.4.
| Metric | San Gabriel | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $778,252 | $642,203 | $242,182 |
| Median Household Income | $88,814 | $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 San Gabriel rose about 21.5%, while median household income rose about 60.2% 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 | San Gabriel | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 44.8% | 51.6% | 58.2% |
| Rental Rate | 47.2% | 40.9% | 31.3% |
| Vacancy Rate | 8.1% | 7.6% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
San Gabriel has a homeownership rate of 44.8%, lower than the California average of 51.6%. Its housing vacancy rate is 8.1%, compared with 7.6% in California.
Housing Stock
| Metric | San Gabriel | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.04 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1959 | 1975 | 1978 |
| Median Number of Rooms | 4.7 | 5.0 | 5.5 |
The typical housing unit in San Gabriel was built around 1959. On average, 3.0 people live in a home with about 4.7 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in San Gabriel, California.
What is the median home price in San Gabriel, California?
The median home price in San Gabriel, California is $778,252, higher than the California average of $642,203.
What is the average home price in San Gabriel, 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 San Gabriel, California?
The median gross rent in San Gabriel, California is $1,866 per month, lower than the California average of $1,955.
What was the median gross rent in San Gabriel in 2020?
In 2020, the median gross rent in San Gabriel, California was $1,536 per month.
What is the price-to-rent ratio in San Gabriel, California?
The price-to-rent ratio in San Gabriel, California is about 34.7, meaning it would take roughly 34.7 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 San Gabriel.
Are home prices or rent rising faster in San Gabriel, California?
Both home prices and rent are rising in San Gabriel, up about 6.5% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in San Gabriel, California?
44.8% of households in San Gabriel, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in San Gabriel, California?
The housing vacancy rate in San Gabriel, California is 8.1%, higher than the California average of 7.6%.