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 | Wildomar | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $547,709 | $642,203 | $242,182 |
| Price Trend (Annual %) | 6.7% | 10.0% | 8.2% |
| Median Gross Rent | $1,926 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wildomar is about 15% lower than in California. Rent is about 1% 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 Wildomar, up about 6.7% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Wildomar rose about 25.6% between 2015 and 2023, from $1,533 to $1,926. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 5.2 yearly household incomes in Wildomar.
Buying the median-priced home in Wildomar costs roughly 23.7 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 Wildomar. The price-to-rent ratio in California is about 27.4.
| Metric | Wildomar | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $547,709 | $642,203 | $242,182 |
| Median Household Income | $105,519 | $96,718 | $78,145 |
| Price-to-Income Ratio | 5.2 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Wildomar rose about 47.9%, while median household income rose about 62.0% 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 | Wildomar | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.5% | 51.6% | 58.2% |
| Rental Rate | 21.0% | 40.9% | 31.3% |
| Vacancy Rate | 4.5% | 7.6% | 10.6% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Wildomar has a homeownership rate of 74.5%, higher than the California average of 51.6%. Its housing vacancy rate is 4.5%, compared with 7.6% in California.
Housing Stock
| Metric | Wildomar | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.49 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1995 | 1975 | 1978 |
| Median Number of Rooms | 6.4 | 5.0 | 5.5 |
The typical housing unit in Wildomar was built around 1995. On average, 3.5 people live in a home with about 6.4 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wildomar, California.
What is the median home price in Wildomar, California?
The median home price in Wildomar, California is $547,709, lower than the California average of $642,203.
What is the average home price in Wildomar, 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 Wildomar, California?
The median gross rent in Wildomar, California is $1,926 per month, lower than the California average of $1,955.
What was the median gross rent in Wildomar in 2020?
In 2020, the median gross rent in Wildomar, California was $1,715 per month.
What is the price-to-rent ratio in Wildomar, California?
The price-to-rent ratio in Wildomar, California is about 23.7, meaning it would take roughly 23.7 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 Wildomar.
Are home prices or rent rising faster in Wildomar, California?
Both home prices and rent are rising in Wildomar, up about 6.7% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wildomar, California?
74.5% of households in Wildomar, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Wildomar, California?
The housing vacancy rate in Wildomar, California is 4.5%, lower than the California average of 7.6%.