Im still trying to figure out why the inner Bay is growing faster than the outer Bay despite being way more expensive.
"Inner" Bay Area, Population 6,366,479
San Francisco MSA & Santa Clara County
County.......Median Home Price, March 2014....Annual Population Growth Rate
Alameda..........................$660,610.........................+1.5%
Contra Costa...................$703,490.........................+1.0%
Marin.............................$1,039,770........................+0.5%
San Francisco.................$902,540.........................+1.3%
San Mateo.....................$1,164,750........................+1.2%
Santa Clara......................$852,000........................+1.5%
"Outer" Bay Area, Population 2,093,807
Remainder of Bay Area CSA
Napa................................$585,530.........................+0.4%
San Benito.......................$418,000.........................+0.8%
San Joaquin....................$245,900.........................+1.3%
Santa Cruz.......................$635,000.........................+1.3%
Solano..............................$312,350.........................+0.9%
Sonoma............................$494,150.........................+0.4%
Anyhow, I think perhaps some have decided that having a larger house in exurbia isnt worth a 4-hr long round trip commute.
Here's data for the Southland
Los Angeles CSA
Los Angeles...................$395,780...........................+0.8%
Orange...........................$675,540...........................+0.9%
Riverside........................$310,670...........................+1.1%
San Bernardino.............$188,800...........................+0.8%
Ventura..........................$559,320...........................+0.8%
A few observations.
1. Clearly $395,780 buys nothing in much of LA county but I think South LA and northern LA county drag down the county median.
2. The Inland Empire's growth rate has really slowed down from the unreal gains they had from the 70s through the mid 2000s.
Sources for data:
Home Prices....
March home sales and price report
Population Growth.....
E-1 Current Population Estimates - California Department of Finance