The housing market in California State has been quite costly for many years, with the current median house value being $733,500. This is almost double the US house median value of $338,100. Despite this high price tag, the 1-year appreciation rate in California State is only 2.16%, which is significantly lower than the US average of 8.27%. This indicates that while the housing prices are high, it may not be a great investment to purchase a home in California State in order to make profits from its appreciation.
The median home cost in California is $733,500. Home appreciation the last 10 years has been 134.9%. Home Appreciation in California is up 14.6%.
Average Age of Homes
- The median age of California real estate is 43 years old
The Rental Market in California
- Renters make up 41.4% of the California population
- 1.7% of houses and apartments in California, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.