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 | Westmont | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $759,615 | $642,203 | $242,182 |
| Price Trend (Annual %) | 13.9% | 10.0% | 8.2% |
| Median Gross Rent | $1,413 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.1% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Westmont is about 18% higher than in California. Rent is about 28% 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 Westmont, up about 13.9% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Westmont rose about 40.9% between 2015 and 2023, from $1,003 to $1,413. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 15.7 yearly household incomes in Westmont.
Buying the median-priced home in Westmont costs roughly 44.8 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 Westmont. The price-to-rent ratio in California is about 27.4.
| Metric | Westmont | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $759,615 | $642,203 | $242,182 |
| Median Household Income | $48,504 | $96,718 | $78,145 |
| Price-to-Income Ratio | 15.7 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Westmont fell about 0.4%, while median household income rose about 52.2% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Westmont | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 26.8% | 51.6% | 58.2% |
| Rental Rate | 67.9% | 40.9% | 31.3% |
| Vacancy Rate | 5.3% | 7.6% | 10.6% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Westmont has a homeownership rate of 26.8%, lower than the California average of 51.6%. Its housing vacancy rate is 5.3%, compared with 7.6% in California.
Housing Stock
| Metric | Westmont | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.23 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1958 | 1975 | 1978 |
| Median Number of Rooms | 4.5 | 5.0 | 5.5 |
The typical housing unit in Westmont was built around 1958. On average, 3.2 people live in a home with about 4.5 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Westmont, California.
What is the median home price in Westmont, California?
The median home price in Westmont, California is $759,615, higher than the California average of $642,203.
What is the average home price in Westmont, 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 Westmont, California?
The median gross rent in Westmont, California is $1,413 per month, lower than the California average of $1,955.
What was the median gross rent in Westmont in 2020?
In 2020, the median gross rent in Westmont, California was $1,212 per month.
What is the price-to-rent ratio in Westmont, California?
The price-to-rent ratio in Westmont, California is about 44.8, meaning it would take roughly 44.8 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 Westmont.
Are home prices or rent rising faster in Westmont, California?
Both home prices and rent are rising in Westmont, up about 13.9% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Westmont, California?
26.8% of households in Westmont, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in Westmont, California?
The housing vacancy rate in Westmont, California is 5.3%, lower than the California average of 7.6%.