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 | Union City | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $889,732 | $642,203 | $242,182 |
| Price Trend (Annual %) | 7.6% | 10.0% | 8.2% |
| Median Gross Rent | $2,711 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.5% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Union City is about 39% higher than in California. Rent is about 39% 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 Union City, up about 7.6% and 6.5% a year respectively. Home prices are changing faster.
Median rent in Union City rose about 64.0% between 2015 and 2023, from $1,653 to $2,711. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 6.4 yearly household incomes in Union City.
Buying the median-priced home in Union City costs roughly 27.4 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 Union City. The price-to-rent ratio in California is about 27.4.
| Metric | Union City | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $889,732 | $642,203 | $242,182 |
| Median Household Income | $139,955 | $96,718 | $78,145 |
| Price-to-Income Ratio | 6.4 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Union City rose about 88.3%, while median household income rose about 63.0% 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 | Union City | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.5% | 51.6% | 58.2% |
| Rental Rate | 31.2% | 40.9% | 31.3% |
| Vacancy Rate | 3.3% | 7.6% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Union City has a homeownership rate of 65.5%, higher than the California average of 51.6%. Its housing vacancy rate is 3.3%, compared with 7.6% in California.
Housing Stock
| Metric | Union City | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.18 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1980 | 1975 | 1978 |
| Median Number of Rooms | 5.4 | 5.0 | 5.5 |
The typical housing unit in Union City was built around 1980. On average, 3.2 people live in a home with about 5.4 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Union City, California.
What is the median home price in Union City, California?
The median home price in Union City, California is $889,732, higher than the California average of $642,203.
What is the average home price in Union City, 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 Union City, California?
The median gross rent in Union City, California is $2,711 per month, higher than the California average of $1,955.
What was the median gross rent in Union City in 2020?
In 2020, the median gross rent in Union City, California was $2,322 per month.
What is the price-to-rent ratio in Union City, California?
The price-to-rent ratio in Union City, California is about 27.4, meaning it would take roughly 27.4 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 Union City.
Are home prices or rent rising faster in Union City, California?
Both home prices and rent are rising in Union City, up about 7.6% and 6.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Union City, California?
65.5% of households in Union City, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Union City, California?
The housing vacancy rate in Union City, California is 3.3%, lower than the California average of 7.6%.