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
Source: iip-photo-archive / Flickr
- 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
Source: 2022 Getty Images / Getty Images News via Getty Images
- 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
Source: robnas / Flickr
- 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
Source: DenisTangneyJr / E+ via Getty Images
- 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
Source: kenlund / Flickr
- 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
Source: 2021 Getty Images / Getty Images News via Getty Images
- 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
Source: DenisTangneyJr / iStock Unreleased via Getty Images
- 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
Source: DenisTangneyJr / E+ via Getty Images
- 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
- 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
Source: MattGush / iStock via Getty Images
- 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
Source: DenisTangneyJr / iStock via Getty Images
- 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
Source: MattGush / iStock via Getty Images
- 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
Source: MattGush / iStock via Getty Images
- 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
Source: MattGush / iStock via Getty Images
- 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
Source: patrick_nouhailler / Flickr
- 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
Source: MattGush / iStock via Getty Images
- 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
- 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
Source: Solidago / iStock Unreleased via Getty Images
- 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
Source: benedek / iStock Unreleased via Getty Images
- 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
Source: Public Domain / Wikimedia Commons
- 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
Source: sanfel / iStock Editorial via Getty Images
- 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
Source: kenlund / Flickr
- 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
Source: MattGush / iStock via Getty Images
- 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
Source: robbertholf / Flickr
- 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
Source: DenisTangneyJr / iStock via Getty Images
- 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
Source: MattGush / iStock via Getty Images
- 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
Source: Bob Corson / iStock via Getty Images
- 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
Source: HaizhanZheng / E+ via Getty Images
- 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
Source: MattGush / iStock via Getty Images
- 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
Source: trekandshoot / iStock Editorial via Getty Images
- 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
Source: MichaelRLopez / iStock Editorial via Getty Images
- 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
Source: SeanPavonePhoto / iStock via Getty Images
- 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
Source: MattGush / iStock via Getty Images
- 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
Source: Sundry Photography / iStock via Getty Images
- 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
Source: f11photo / iStock via Getty Images
- 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
Source: sergeigussev / Flickr
- 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
Source: frank_peters / Shutterstock.com
- 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
- 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
Source: Melpomenem / iStock via Getty Images
- 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
Source: trekandshoot / Getty Images
- 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
Source: albertc111 / iStock via Getty Images
- 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
Source: mike_miley / Flickr
- 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
Source: therubyring / Flickr
- 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
Source: Davel5957 / iStock via Getty Images
- 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
Source: MattGush / iStock via Getty Images
- 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
Source: NicolasMcComber / Getty Images
- 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
Source: MattGush / iStock via Getty Images
- 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
Source: dell640 / iStock via Getty Images
- 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
Source: yhelfman / iStock via Getty Images
- 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
Source: Spondylolithesis / Getty Images
- 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 |
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