GITNUX MARKETDATA REPORT 2024

California Real Estate Statistics [Fresh Research]

With sources from: census.gov, taxfoundation.org, urban.org, car.org and many more

In this post, we will explore a comprehensive overview of California real estate statistics for 2021. These statistics cover a wide range of housing market indicators, including median home prices, rental costs, homeownership rates, property taxes, and more. Stay tuned to gain valuable insights into the current state of the real estate market in California.

Statistic 1

"In 2021, the median price for a single-family home in California was $758,990."

Sources Icon

Statistic 2

"As of August 2021, 40.2% of Californian homes have increased in value over the past year."

Sources Icon

Statistic 3

"The median rent price in California is $3,120."

Sources Icon

Statistic 4

"Approximately 54.7% of Californians are homeowners."

Sources Icon

Statistic 5

"As of August 2021, the median sales price of a newly built home in California is $679,100."

Sources Icon

Statistic 6

"In 2021, the most expensive neighborhood in San Francisco is Presidio Heights, with a median sales price of $5,550,000."

Sources Icon

Statistic 7

"There are over 1.5 million mortgage holders in California who are cost-burdened, spending over 30% of their income on housing."

Sources Icon

Statistic 8

"California homeowners can expect to pay an average of $1,618 in homeowners’ insurance annually."

Sources Icon

Statistic 9

"In California, the median price-to-income ratio is 5.5 as of Q2 2021."

Sources Icon

Statistic 10

"Santa Clara County, CA has the highest median household income in the state at $139,455."

Sources Icon

Statistic 11

"In September 2021, the number of existing, single-family home sales in California was 396,590."

Sources Icon

Statistic 12

"California has some of the highest property tax rates in the country, with an average rate of 0.76%."

Sources Icon

Statistic 13

"In 2021, approximately 10% of California homes have negative equity."

Sources Icon

Statistic 14

"The vacancy rate for rental homes in California was 4.3% as of Q2 2021."

Sources Icon

Interpretation

In conclusion, the California real estate market in 2021 is characterized by high median home prices, a significant percentage of homes experiencing value appreciation, high rental prices, a majority of residents being homeowners, varying affordability levels across different regions, and notable challenges such as cost-burdened mortgage holders and properties with negative equity. The data points suggest a complex and dynamic housing landscape in California, influenced by factors such as income levels, property taxes, and market conditions. The statistics highlight the need for careful consideration and strategic planning for both current and prospective homeowners in navigating the state's diverse real estate environment.

Can You Trust Our Report?

The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.

Learn more about our process here.

Submit Your Own Statistic Data

Would you like to submit your own researched statistics on this topic? You are welcome to use the form below and submit your suggestion to us. We will check the source and approve it if necessary.

... Before You Leave, Catch This! 🔥

Your next business insight is just a subscription away. Our newsletter The Week in Data delivers the freshest statistics and trends directly to you. Stay informed, stay ahead—subscribe now.

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!