Median Home Prices
This graph shows U.S., California, and San Joaquin County annual median home sale prices. California and San Joaquin County home prices are more volatile than in the U.S. overall, with similar up-down trends. In the late 1990s, U.S. and San Joaquin County home prices were comparable. However, the dot com bubble made California and San Joaquin County prices skyrocket, while U.S. prices rose more gradually. Beginning in 2007, California home prices rose higher than the U.S. and San Joaquin County, and all geographies have increased since 2012. Data came from averaging monthly median home price estimates to obtain annual prices. (Source: UOP Center for Business and Policy Research Index)
Housing Affordability Index
Average first-time home buyer affordability index
|San Joaquin County||54.8%||60.5%||56.7%|
One common statistic in determining a region's housing affordability is the "rent burden" chart, or the percentage of households that use at least 30% of their total incomes on housing costs. Exiting the Recession, San Joaquin County's rent burden percentage actually dipped below that of California overall, signifying that San Joaquin County may have more affordable housing than other parts of California, although it still exceeds the United States' percent.
Another viewpoint is the rental burden breakdown by household income bracket. While San Joaquin County has a higher rental burden than the United States, it begins to resemble the U.S. average more so than it does California's at incomes higher than $75,000.
Housing vacancy rates can play an important role in determining the county's housing affordability. Ideally, a healthy rental vacancy rate should be 6 to 7% — any lower will allow property owners to keep rents higher. A typical homeowner vacancy rate hovers around 1 to 2%. The "total vacant housing units" category includes housing that is for rent or sale, housing that is rented or sold but not occupied, housing for seasonal use, and housing for migrant workers.