The Cheapest and Most Expensive Housing Markets in California

By Sam Stebbins Published Mar 27, 11:50AM EDT

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The Cheapest and Most Expensive Housing Markets in California — © DenisTangneyJr / iStock via Getty Images

Home prices have surged in the U.S. in recent years. Driven by rising demand and supply constraints during the pandemic, the median home sale price spiked by nearly 50% from the second quarter of 2020 to Q3 in 2022. While the sale price of a typical American home has fallen in recent months since, housing prices remain at historic highs.

Not only have home values soared, but borrowing costs for home buyers have also climbed. The average interest rate on a 30-year fixed mortgage has been above 6% since September 2022, a high not seen in nearly a decade and a half. In a market defined by high prices and high mortgage rates, homeownership has become prohibitively expensive for a large number of Americans.

Still, housing prices are also subject to a number of factors that can be isolated from broader, nationwide market trends — and location is one of them. Two homes that are virtually identical can vary in price by hundreds of thousands of dollars, depending on where they are. And for prospective homeowners on a budget, some California cities are far more affordable than others.

According to five-year estimates from the U.S. Census Bureau’s 2022 American Community Survey, the typical home in California is worth $659,300. But across the 50 cities and towns in the state with populations of at least 125,000, median home values range from about $300,000 to nearly $1.7 million.

In any local market, home prices are often a reflection of what residents can afford. In California, many of the least expensive cities for homebuyers are not high-income areas. Of the 50 California cities with available data from the ACS, 26 have a median home value that is less than the statewide median. In all but five of these places, the typical household earns less than the statewide median household income of $91,905. Similarly, most of California’s more expensive housing markets have higher earning populations.

These are the cheapest and most expensive housing markets in California.

50. Victorville

Median home value: $300,600
Homes worth over $1 million: 0.5%
Homeownership rate: 59.7%
Median household income: $65,746
Total population: 134,417

49. Visalia

Large Swaths Of California Under Extreme Drought Conditions

Median home value: $316,600
Homes worth over $1 million: 1.1%
Homeownership rate: 60.0%
Median household income: $75,658
Total population: 141,466

48. Bakersfield

Median home value: $320,600
Homes worth over $1 million: 1.8%
Homeownership rate: 60.2%
Median household income: $73,827
Total population: 404,321

47. Fresno

Median home value: $321,800
Homes worth over $1 million: 2.5%
Homeownership rate: 48.1%
Median household income: $63,001
Total population: 541,528

46. San Bernardino

Median home value: $347,100
Homes worth over $1 million: 0.6%
Homeownership rate: 48.9%
Median household income: $61,323
Total population: 221,041

45. Lancaster

California To Take Action As Drought Conditions Loom

Median home value: $368,800
Homes worth over $1 million: 1.8%
Homeownership rate: 57.1%
Median household income: $71,367
Total population: 171,465

44. Modesto

Median home value: $381,800
Homes worth over $1 million: 1.7%
Homeownership rate: 57.7%
Median household income: $73,375
Total population: 218,308

43. Stockton

Median home value: $382,000
Homes worth over $1 million: 1.6%
Homeownership rate: 51.7%
Median household income: $71,612
Total population: 320,030

42. Palmdale

Palmdale and Mountains (Public Domain) by Jamesb01

Median home value: $397,500
Homes worth over $1 million: 0.9%
Homeownership rate: 66.5%
Median household income: $78,414
Total population: 166,895

41. Moreno Valley

Median home value: $421,400
Homes worth over $1 million: 0.9%
Homeownership rate: 63.0%
Median household income: $82,637
Total population: 209,578

40. Sacramento

Median home value: $450,500
Homes worth over $1 million: 4.5%
Homeownership rate: 50.7%
Median household income: $78,954
Total population: 523,600

39. Riverside

Median home value: $485,500
Homes worth over $1 million: 3.3%
Homeownership rate: 55.5%
Median household income: $83,448
Total population: 316,076

38. Fontana

Median home value: $506,600
Homes worth over $1 million: 1.6%
Homeownership rate: 66.6%
Median household income: $93,230
Total population: 209,279

37. Ontario

Median home value: $513,000
Homes worth over $1 million: 1.4%
Homeownership rate: 55.7%
Median household income: $78,070
Total population: 176,326

36. Vallejo

Median home value: $515,500
Homes worth over $1 million: 1.7%
Homeownership rate: 58.7%
Median household income: $86,112
Total population: 125,132

35. Pomona

Median home value: $524,700
Homes worth over $1 million: 2.0%
Homeownership rate: 53.9%
Median household income: $73,515
Total population: 149,831

34. Elk Grove

OldTownElkGrove (CC BY-SA 3.0) by EG-Richard

Median home value: $560,500
Homes worth over $1 million: 3.3%
Homeownership rate: 73.8%
Median household income: $115,864
Total population: 176,105

33. Salinas

Median home value: $573,600
Homes worth over $1 million: 2.0%
Homeownership rate: 47.1%
Median household income: $84,250
Total population: 162,783

32. Oxnard

Median home value: $587,200
Homes worth over $1 million: 4.9%
Homeownership rate: 54.6%
Median household income: $90,409
Total population: 202,279

31. Roseville

Median home value: $596,700
Homes worth over $1 million: 2.9%
Homeownership rate: 68.1%
Median household income: $112,265
Total population: 148,879

30. Escondido

Median home value: $616,400
Homes worth over $1 million: 9.8%
Homeownership rate: 51.8%
Median household income: $77,554
Total population: 151,114

29. Santa Ana

Median home value: $624,000
Homes worth over $1 million: 5.8%
Homeownership rate: 44.8%
Median household income: $84,210
Total population: 311,379

28. Corona

Median home value: $624,200
Homes worth over $1 million: 5.4%
Homeownership rate: 63.1%
Median household income: $103,727
Total population: 158,346

27. Oceanside

Median home value: $644,600
Homes worth over $1 million: 8.8%
Homeownership rate: 57.9%
Median household income: $86,701
Total population: 173,722

26. Chula Vista

Median home value: $647,100
Homes worth over $1 million: 7.4%
Homeownership rate: 59.9%
Median household income: $101,984
Total population: 276,103

25. Rancho Cucamonga

Median home value: $657,400
Homes worth over $1 million: 12.7%
Homeownership rate: 63.3%
Median household income: $105,534
Total population: 174,696

24. Santa Rosa

Median home value: $661,700
Homes worth over $1 million: 12.3%
Homeownership rate: 55.7%
Median household income: $92,604
Total population: 178,221

23. Santa Clarita

Median home value: $669,200
Homes worth over $1 million: 7.9%
Homeownership rate: 71.1%
Median household income: $116,186
Total population: 225,850

22. Garden Grove

Median home value: $702,600
Homes worth over $1 million: 5.7%
Homeownership rate: 54.0%
Median household income: $86,139
Total population: 171,637

21. Simi Valley

Median home value: $704,200
Homes worth over $1 million: 11.0%
Homeownership rate: 72.8%
Median household income: $112,144
Total population: 126,153

20. Concord

Median home value: $706,700
Homes worth over $1 million: 12.4%
Homeownership rate: 61.1%
Median household income: $107,789
Total population: 125,007

19. Long Beach

Median home value: $709,700
Homes worth over $1 million: 17.4%
Homeownership rate: 40.6%
Median household income: $78,995
Total population: 462,293

18. Anaheim

Median home value: $713,600
Homes worth over $1 million: 13.6%
Homeownership rate: 46.6%
Median household income: $88,538
Total population: 347,111

17. Hayward

Median home value: $775,700
Homes worth over $1 million: 18.5%
Homeownership rate: 56.5%
Median household income: $105,371
Total population: 160,602

16. San Diego

Median home value: $783,300
Homes worth over $1 million: 29.0%
Homeownership rate: 47.6%
Median household income: $98,657
Total population: 1,383,987

15. Fullerton

Median home value: $791,000
Homes worth over $1 million: 26.8%
Homeownership rate: 51.6%
Median household income: $99,279
Total population: 142,280

14. Los Angeles

the skyline of los angeles during sunset

Median home value: $822,600
Homes worth over $1 million: 34.5%
Homeownership rate: 36.6%
Median household income: $76,244
Total population: 3,881,041

13. Orange

Orange, California (CC BY-SA 2.0) by Ken Lund

Median home value: $848,200
Homes worth over $1 million: 24.5%
Homeownership rate: 58.9%
Median household income: $109,335
Total population: 138,728

12. Oakland

Median home value: $883,800
Homes worth over $1 million: 39.9%
Homeownership rate: 42.1%
Median household income: $94,389
Total population: 437,825

11. Thousand Oaks

Median home value: $900,600
Homes worth over $1 million: 35.3%
Homeownership rate: 69.2%
Median household income: $125,399
Total population: 126,532

10. Torrance

Median home value: $962,300
Homes worth over $1 million: 44.9%
Homeownership rate: 54.8%
Median household income: $109,554
Total population: 145,454

9. Huntington Beach

Median home value: $976,800
Homes worth over $1 million: 47.4%
Homeownership rate: 55.7%
Median household income: $114,747
Total population: 197,481

8. Pasadena

Median home value: $981,600
Homes worth over $1 million: 48.1%
Homeownership rate: 42.1%
Median household income: $97,818
Total population: 137,554

7. Glendale

Median home value: $992,000
Homes worth over $1 million: 49.3%
Homeownership rate: 34.2%
Median household income: $81,219
Total population: 194,512

6. Irvine

Median home value: $1,025,700
Homes worth over $1 million: 52.1%
Homeownership rate: 43.9%
Median household income: $122,948
Total population: 304,527

5. San Jose

Median home value: $1,149,600
Homes worth over $1 million: 63.7%
Homeownership rate: 55.8%
Median household income: $136,010
Total population: 1,001,176

4. Fremont

Median home value: $1,231,500
Homes worth over $1 million: 74.5%
Homeownership rate: 60.7%
Median household income: $169,023
Total population: 228,795

3. San Francisco

Median home value: $1,348,700
Homes worth over $1 million: 75.9%
Homeownership rate: 38.6%
Median household income: $136,689
Total population: 851,036

2. Santa Clara

Median home value: $1,440,200
Homes worth over $1 million: 82.2%
Homeownership rate: 41.9%
Median household income: $165,352
Total population: 128,058

1. Sunnyvale

Median home value: $1,680,700
Homes worth over $1 million: 78.2%
Homeownership rate: 44.4%
Median household income: $174,506
Total population: 154,573

Rank	Places in California with at least 125,000 residents	Median home value ($)	Homeownership rate (%)	Median household income ($)	Total Population
1	Sunnyvale	1,680,700	44.4	174,506	154,573
2	Santa Clara	1,440,200	41.9	165,352	128,058
3	San Francisco	1,348,700	38.6	136,689	851,036
4	Fremont	1,231,500	60.7	169,023	228,795
5	San Jose	1,149,600	55.8	136,010	1,001,176
6	Irvine	1,025,700	43.9	122,948	304,527
7	Glendale	992,000	34.2	81,219	194,512
8	Pasadena	981,600	42.1	97,818	137,554
9	Huntington Beach	976,800	55.7	114,747	197,481
10	Torrance	962,300	54.8	109,554	145,454
11	Thousand Oaks	900,600	69.2	125,399	126,532
12	Oakland	883,800	42.1	94,389	437,825
13	Orange	848,200	58.9	109,335	138,728
14	Los Angeles	822,600	36.6	76,244	3,881,041
15	Fullerton	791,000	51.6	99,279	142,280
16	San Diego	783,300	47.6	98,657	1,383,987
17	Hayward	775,700	56.5	105,371	160,602
18	Anaheim	713,600	46.6	88,538	347,111
19	Long Beach	709,700	40.6	78,995	462,293
20	Concord	706,700	61.1	107,789	125,007
21	Simi Valley	704,200	72.8	112,144	126,153
22	Garden Grove	702,600	54.0	86,139	171,637
23	Santa Clarita	669,200	71.1	116,186	225,850
24	Santa Rosa	661,700	55.7	92,604	178,221
25	Rancho Cucamonga	657,400	63.3	105,534	174,696
26	Chula Vista	647,100	59.9	101,984	276,103
27	Oceanside	644,600	57.9	86,701	173,722
28	Corona	624,200	63.1	103,727	158,346
29	Santa Ana	624,000	44.8	84,210	311,379
30	Escondido	616,400	51.8	77,554	151,114
31	Roseville	596,700	68.1	112,265	148,879
32	Oxnard	587,200	54.6	90,409	202,279
33	Salinas	573,600	47.1	84,250	162,783
34	Elk Grove	560,500	73.8	115,864	176,105
35	Pomona	524,700	53.9	73,515	149,831
36	Vallejo	515,500	58.7	86,112	125,132
37	Ontario	513,000	55.7	78,070	176,326
38	Fontana	506,600	66.6	93,230	209,279
39	Riverside	485,500	55.5	83,448	316,076
40	Sacramento	450,500	50.7	78,954	523,600
41	Moreno Valley	421,400	63.0	82,637	209,578
42	Palmdale	397,500	66.5	78,414	166,895
43	Stockton	382,000	51.7	71,612	320,030
44	Modesto	381,800	57.7	73,375	218,308
45	Lancaster	368,800	57.1	71,367	171,465
46	San Bernardino	347,100	48.9	61,323	221,041
47	Fresno	321,800	48.1	63,001	541,528
48	Bakersfield	320,600	60.2	73,827	404,321
49	Visalia	316,600	60.0	75,658	141,466
50	Victorville	300,600	59.7	65,746	134,417

About the Author Sam Stebbins →

Sam Stebbins is a writer at a673b.bigscoots-temp.com where his primary focus is on government policy, politics, companies, and broad social and economic trends. Sam has been writing in the money and news verticals for over 8 years and holds a bachelor's degree from Hobart College, which he earned in 2010. Sam resides in upstate New York and enjoys hiking, biking, canoeing, and skiing in the Adirondack Mountains and across the Northeast.