Torrance, California Housing Market Prices
Torrance Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 86% above the California median$1,212,962
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Median rent 12% above the California median$2,281
Housing Market Overview
| Metric | Torrance | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,212,962 | $650,794 | $248,835 |
| Price Trend (Annual %) | 8.8% | 8.9% | 7.5% |
| Median Gross Rent | $2,281 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.3% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Torrance is about 86% higher than in California. Rent is about 12% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Torrance, up about 8.8% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Torrance rose about 54.9% between 2015 and 2024, from $1,472 to $2,281. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 10.4 yearly household incomes in Torrance.
Buying the median-priced home in Torrance costs roughly 44.3 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 Torrance. The price-to-rent ratio in California is about 26.6.
| Metric | Torrance | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,212,962 | $650,794 | $248,835 |
| Median Household Income | $116,831 | $99,161 | $80,455 |
| Price-to-Income Ratio | 10.4 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Torrance rose about 106.5%, while median household income rose about 52.8% between 2009 and 2025 — 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 | Torrance | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.1% | 51.7% | 58.5% |
| Rental Rate | 41.6% | 40.8% | 31.2% |
| Vacancy Rate | 7.3% | 7.5% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Torrance has a homeownership rate of 51.1%, lower than the California average of 51.7%. Its housing vacancy rate is 7.3%, compared with 7.5% in California.
Housing Stock
| Metric | Torrance | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1964 | 1975 | 1978 |
| Median Number of Rooms | 4.8 | 5.0 | 5.5 |
The typical housing unit in Torrance was built around 1964. On average, 2.5 people live in a home with about 4.8 rooms, staying for about 15.0 years on average.
Torrance, CA Housing Compared With Nearby Cities
How Torrance, CA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Torrance, CA | 139,758 | $1,212,962 #2/2 | $2,281 #2/2 | 55.1% #1/2 |
| Redondo Beach, CA | 69,266 | $1,584,567 | $2,691 | 53.4% |
Frequently Asked Questions
Common questions about the housing market in Torrance, California.
What is the median home price in Torrance, California?
The median home price in Torrance, California is $1,212,962, higher than the California average of $650,794.
What is the average home price in Torrance, California?
The typical home price in Torrance, California, reported as the median sale price, is $1,212,962. 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 Torrance, California?
The median gross rent in Torrance, California is $2,281 per month, higher than the California average of $2,036.
What was the median gross rent in Torrance in 2020?
In 2020, the median gross rent in Torrance, California was $1,803 per month.
What is the price-to-rent ratio in Torrance, California?
The price-to-rent ratio in Torrance, California is about 44.3, meaning it would take roughly 44.3 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 Torrance.
Are home prices or rent rising faster in Torrance, California?
Both home prices and rent are rising in Torrance, up about 8.8% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Torrance, California?
51.1% of households in Torrance, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in Torrance, California?
The housing vacancy rate in Torrance, California is 7.3%, lower than the California average of 7.5%.
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