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.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Solano County | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $481,232 | $642,203 | $242,182 |
| Price Trend (Annual %) | 10.0% | 10.0% | 8.2% |
| Median Gross Rent | $2,087 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.6% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Solano County is about 25% lower than in California. Rent is about 7% 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 Solano County, up about 10.0% and 6.6% a year respectively. Home prices are changing faster.
Median rent in Solano County rose about 61.4% between 2015 and 2023, from $1,294 to $2,087. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 4.8 yearly household incomes in Solano County.
Buying the median-priced home in Solano County costs roughly 19.2 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Solano County. The price-to-rent ratio in California is about 27.4.
| Metric | Solano County | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $481,232 | $642,203 | $242,182 |
| Median Household Income | $99,988 | $96,718 | $78,145 |
| Price-to-Income Ratio | 4.8 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Solano County rose about 118.2%, while median household income rose about 47.1% 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 | Solano County | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.3% | 51.6% | 58.2% |
| Rental Rate | 35.1% | 40.9% | 31.3% |
| Vacancy Rate | 4.7% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Solano County has a homeownership rate of 60.3%, higher than the California average of 51.6%. Its housing vacancy rate is 4.7%, compared with 7.6% in California.
Housing Stock
| Metric | Solano County | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.83 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1980 | 1975 | 1978 |
| Median Number of Rooms | 5.6 | 5.0 | 5.5 |
The typical housing unit in Solano County was built around 1980. On average, 2.8 people live in a home with about 5.6 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Solano County, California.
What is the median home price in Solano County, California?
The median home price in Solano County, California is $481,232, lower than the California average of $642,203.
What is the average home price in Solano County, 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 Solano County, California?
The median gross rent in Solano County, California is $2,087 per month, higher than the California average of $1,955.
What was the median gross rent in Solano County in 2020?
In 2020, the median gross rent in Solano County, California was $1,683 per month.
What is the price-to-rent ratio in Solano County, California?
The price-to-rent ratio in Solano County, California is about 19.2, meaning it would take roughly 19.2 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Solano County.
Are home prices or rent rising faster in Solano County, California?
Both home prices and rent are rising in Solano County, up about 10.0% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Solano County, California?
60.3% of households in Solano County, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Solano County, California?
The housing vacancy rate in Solano County, California is 4.7%, lower than the California average of 7.6%.