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 | South Whittier | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $760,820 | $642,203 | $242,182 |
| Price Trend (Annual %) | 10.9% | 10.0% | 8.2% |
| Median Gross Rent | $1,822 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in South Whittier is about 18% higher than in California. Rent is about 7% 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 South Whittier, up about 10.9% and 4.5% a year respectively. Home prices are changing faster.
Median rent in South Whittier rose about 40.9% between 2015 and 2023, from $1,294 to $1,822. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 7.7 yearly household incomes in South Whittier.
Buying the median-priced home in South Whittier costs roughly 34.8 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 South Whittier. The price-to-rent ratio in California is about 27.4.
| Metric | South Whittier | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $760,820 | $642,203 | $242,182 |
| Median Household Income | $98,950 | $96,718 | $78,145 |
| Price-to-Income Ratio | 7.7 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in South Whittier rose about 117.0%, while median household income rose about 54.7% 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 | South Whittier | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.6% | 51.6% | 58.2% |
| Rental Rate | 33.2% | 40.9% | 31.3% |
| Vacancy Rate | 4.2% | 7.6% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
South Whittier has a homeownership rate of 62.6%, higher than the California average of 51.6%. Its housing vacancy rate is 4.2%, compared with 7.6% in California.
Housing Stock
| Metric | South Whittier | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.60 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1959 | 1975 | 1978 |
| Median Number of Rooms | 5.2 | 5.0 | 5.5 |
The typical housing unit in South Whittier was built around 1959. On average, 3.6 people live in a home with about 5.2 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in South Whittier, California.
What is the median home price in South Whittier, California?
The median home price in South Whittier, California is $760,820, higher than the California average of $642,203.
What is the average home price in South Whittier, 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 South Whittier, California?
The median gross rent in South Whittier, California is $1,822 per month, lower than the California average of $1,955.
What was the median gross rent in South Whittier in 2020?
In 2020, the median gross rent in South Whittier, California was $1,558 per month.
What is the price-to-rent ratio in South Whittier, California?
The price-to-rent ratio in South Whittier, California is about 34.8, meaning it would take roughly 34.8 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 South Whittier.
Are home prices or rent rising faster in South Whittier, California?
Both home prices and rent are rising in South Whittier, up about 10.9% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in South Whittier, California?
62.6% of households in South Whittier, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in South Whittier, California?
The housing vacancy rate in South Whittier, California is 4.2%, lower than the California average of 7.6%.