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 Fe Springs | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $838,224 | $642,203 | $242,182 |
| Price Trend (Annual %) | 17.6% | 10.0% | 8.2% |
| Median Gross Rent | $1,914 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Santa Fe Springs is about 31% higher than in California. Rent is about 2% 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 Santa Fe Springs, up about 17.6% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Santa Fe Springs rose about 50.9% between 2015 and 2023, from $1,268 to $1,914. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 9.4 yearly household incomes in Santa Fe Springs.
Buying the median-priced home in Santa Fe Springs costs roughly 36.5 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 Fe Springs. The price-to-rent ratio in California is about 27.4.
| Metric | Santa Fe Springs | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $838,224 | $642,203 | $242,182 |
| Median Household Income | $89,472 | $96,718 | $78,145 |
| Price-to-Income Ratio | 9.4 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Santa Fe Springs rose about 98.8%, while median household income rose about 58.4% 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 | Santa Fe Springs | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.7% | 51.6% | 58.2% |
| Rental Rate | 36.9% | 40.9% | 31.3% |
| Vacancy Rate | 3.4% | 7.6% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Santa Fe Springs has a homeownership rate of 59.7%, 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 Fe Springs | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.39 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 Santa Fe Springs was built around 1977. On average, 3.4 people live in a home with about 5.1 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Santa Fe Springs, California.
What is the median home price in Santa Fe Springs, California?
The median home price in Santa Fe Springs, California is $838,224, higher than the California average of $642,203.
What is the average home price in Santa Fe Springs, 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 Fe Springs, California?
The median gross rent in Santa Fe Springs, California is $1,914 per month, lower than the California average of $1,955.
What was the median gross rent in Santa Fe Springs in 2020?
In 2020, the median gross rent in Santa Fe Springs, California was $1,456 per month.
What is the price-to-rent ratio in Santa Fe Springs, California?
The price-to-rent ratio in Santa Fe Springs, California is about 36.5, meaning it would take roughly 36.5 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 Fe Springs.
Are home prices or rent rising faster in Santa Fe Springs, California?
Both home prices and rent are rising in Santa Fe Springs, up about 17.6% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Santa Fe Springs, California?
59.7% of households in Santa Fe Springs, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Santa Fe Springs, California?
The housing vacancy rate in Santa Fe Springs, California is 3.4%, lower than the California average of 7.6%.