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 | West Rancho Dominguez | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $874,595 | $642,203 | $242,182 |
| Price Trend (Annual %) | 29.1% | 10.0% | 8.2% |
| Median Gross Rent | $1,550 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in West Rancho Dominguez is about 36% higher than in California. Rent is about 21% 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 West Rancho Dominguez, up about 29.1% and 4.6% a year respectively. Home prices are changing faster.
Median rent in West Rancho Dominguez rose about 31.0% between 2015 and 2023, from $1,183 to $1,550. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 10.6 yearly household incomes in West Rancho Dominguez.
Buying the median-priced home in West Rancho Dominguez costs roughly 47.0 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 West Rancho Dominguez. The price-to-rent ratio in California is about 27.4.
| Metric | West Rancho Dominguez | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $874,595 | $642,203 | $242,182 |
| Median Household Income | $82,450 | $96,718 | $78,145 |
| Price-to-Income Ratio | 10.6 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in West Rancho Dominguez rose about 619.0%, while median household income rose about 95.3% 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 | West Rancho Dominguez | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.7% | 51.6% | 58.2% |
| Rental Rate | 33.1% | 40.9% | 31.3% |
| Vacancy Rate | 4.1% | 7.6% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
West Rancho Dominguez has a homeownership rate of 62.7%, higher than the California average of 51.6%. Its housing vacancy rate is 4.1%, compared with 7.6% in California.
Housing Stock
| Metric | West Rancho Dominguez | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.37 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1955 | 1975 | 1978 |
| Median Number of Rooms | 5.2 | 5.0 | 5.5 |
The typical housing unit in West Rancho Dominguez was built around 1955. On average, 3.4 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 West Rancho Dominguez, California.
What is the median home price in West Rancho Dominguez, California?
The median home price in West Rancho Dominguez, California is $874,595, higher than the California average of $642,203.
What is the average home price in West Rancho Dominguez, 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 West Rancho Dominguez, California?
The median gross rent in West Rancho Dominguez, California is $1,550 per month, lower than the California average of $1,955.
What was the median gross rent in West Rancho Dominguez in 2020?
In 2020, the median gross rent in West Rancho Dominguez, California was $1,236 per month.
What is the price-to-rent ratio in West Rancho Dominguez, California?
The price-to-rent ratio in West Rancho Dominguez, California is about 47.0, meaning it would take roughly 47.0 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 West Rancho Dominguez.
Are home prices or rent rising faster in West Rancho Dominguez, California?
Both home prices and rent are rising in West Rancho Dominguez, up about 29.1% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in West Rancho Dominguez, California?
62.7% of households in West Rancho Dominguez, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in West Rancho Dominguez, California?
The housing vacancy rate in West Rancho Dominguez, California is 4.1%, lower than the California average of 7.6%.