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 | Santa Clarita | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $645,691 | $642,203 | $242,182 |
| Price Trend (Annual %) | 9.1% | 10.0% | 8.2% |
| Median Gross Rent | $2,481 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Santa Clarita is about 1% higher than in California. Rent is about 27% 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 Santa Clarita, up about 9.1% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Santa Clarita rose about 51.7% between 2015 and 2023, from $1,636 to $2,481. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 5.5 yearly household incomes in Santa Clarita.
Buying the median-priced home in Santa Clarita costs roughly 21.7 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 Santa Clarita. The price-to-rent ratio in California is about 27.4.
| Metric | Santa Clarita | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $645,691 | $642,203 | $242,182 |
| Median Household Income | $118,455 | $96,718 | $78,145 |
| Price-to-Income Ratio | 5.5 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Santa Clarita rose about 97.0%, while median household income rose about 40.6% 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 | Santa Clarita | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.2% | 51.6% | 58.2% |
| Rental Rate | 28.5% | 40.9% | 31.3% |
| Vacancy Rate | 3.4% | 7.6% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Santa Clarita has a homeownership rate of 68.2%, higher than the California average of 51.6%. Its housing vacancy rate is 3.4%, compared with 7.6% in California.
Housing Stock
| Metric | Santa Clarita | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.98 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1988 | 1975 | 1978 |
| Median Number of Rooms | 5.6 | 5.0 | 5.5 |
The typical housing unit in Santa Clarita was built around 1988. On average, 3.0 people live in a home with about 5.6 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Santa Clarita, California.
What is the median home price in Santa Clarita, California?
The median home price in Santa Clarita, California is $645,691, higher than the California average of $642,203.
What is the average home price in Santa Clarita, 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 Santa Clarita, California?
The median gross rent in Santa Clarita, California is $2,481 per month, higher than the California average of $1,955.
What was the median gross rent in Santa Clarita in 2020?
In 2020, the median gross rent in Santa Clarita, California was $1,992 per month.
What is the price-to-rent ratio in Santa Clarita, California?
The price-to-rent ratio in Santa Clarita, California is about 21.7, meaning it would take roughly 21.7 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 Santa Clarita.
Are home prices or rent rising faster in Santa Clarita, California?
Both home prices and rent are rising in Santa Clarita, up about 9.1% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Santa Clarita, California?
68.2% of households in Santa Clarita, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Santa Clarita, California?
The housing vacancy rate in Santa Clarita, California is 3.4%, lower than the California average of 7.6%.