Thousand Oaks, California Housing Market

What stands out in Thousand Oaks?

• 2.9% of homes are vacant: among the lowest vacancy of 765 tracked cities. Empty homes are scarce, so well-priced rentals fill.
• The median asking price is $1,084,890: one of the priciest of 765 tracked cities. Entry costs are high, so cash flow is harder. Price growth has to do more of the work.
• The median household earns $129,100 a year: among the highest incomes of 765 tracked cities. Tenants can carry higher rents.

What does a shrinking population mean for Thousand Oaks landlords?

The population in Thousand Oaks's ZIP codes fell 1.9% over five years. 2.9% of homes are vacant, lower than most tracked cities. Households still grew 2.3% while the housing stock held flat. Fewer people living in more households means rental demand has held up better than the population suggests. Check vacancy by ZIP before you buy.

Who will rent from you in Thousand Oaks?

In Thousand Oaks, 29 out of every 100 households rent. Most own their home. The renter share is shrinking. Five years ago it was 31 in 100. Renter households here average 2.5 people. Families rent here. Buy bedrooms. Studios will sit.

The median Thousand Oaks household earns $129,100 a year. Incomes here have grown 3.5% a year since 2019. Incomes and home prices are rising in step. A typical home costs 8.4 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. At 30% of income, a tenant on the median income can pay about $3,227 a month.

To see what one Thousand Oaks address would rent for and cash flow, run it through the app.

What is the fair market rent in Thousand Oaks?

HUD sets one fair market rent for Ventura County. For fiscal year 2026:

• 1 bedroom: $2,250 a month. Up 5% on last year, up 88% since FY2016.
• 2 bedrooms: $2,693 a month. Up 5% on last year, up 68% since FY2016.
• 3 bedrooms: $3,652 a month. Up 4% on last year, up 61% since FY2016.
• 4 bedrooms: $4,240 a month. Up 4% on last year, up 70% since FY2016.

The figures include tenant-paid utilities and apply to all of Ventura County, so one home's rent can sit well above or below them. See fair market rent by city.

Is now a good time to buy in Thousand Oaks?

The median asking price is 27.8% below its Jan 2024 peak. Per square foot the gap is smaller: 4.1% below the Feb 2024 high. Part of the drop is smaller homes coming to market. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller. Thousand Oaks prices have risen in 90 of the last 111 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

When do Thousand Oaks prices dip?

Across 9 full years, Thousand Oaks asking prices ran lowest in August, about 2.9% below the year's average. They peaked in April. The most homes for sale show up in August, about 21% above the yearly average. August gives you both: lower asking prices and the most homes to choose from.

What numbers should you underwrite a Thousand Oaks deal with?

• Price growth to assume — +2.9%/yr. Thousand Oaks has grown about 2.9% a year for five years and for ten. That pace held before and after the 2020–2021 boom, so it is a fair long-run input. Prices rose 2.2% over the last year. Use it for timing. The five-year rate is the better guide.
• Comp on price per square foot — $569/sqft. The typical Thousand Oaks listing shrank from 2,576 to 2,136 sqft since Jul 2016. So median price hides real growth: 51% per sqft versus 36% on the median. Comp on median price and you will overpay for small homes.
• Competition when you exit — +14%. Homes for sale in Thousand Oaks are up 14% on last year, so your resale faces more competition than today's comps did.

Read how population change affects rentals and how we read these numbers, then run the numbers on a deal.

What is the median home price in Thousand Oaks?

The median asking price in Thousand Oaks is about $1,085,000 as of Sep 2026, down 6.8% from a year ago. The typical listing is 7% smaller than a year ago, and asking price per square foot is up 2.2%. So the size of homes on the market explains much of the drop. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Thousand Oaks figures cover the 3 ZIP codes with a Thousand Oaks mailing address, which can reach past city limits.

Is Thousand Oaks a buyer's or seller's market in 2026?

Neither side has the upper hand in Thousand Oaks right now. We compare Thousand Oaks with 2017–2019 at this time of year: there are 37 pending sales per 100 listings, against 52 then; there are 9% fewer homes for sale; the typical listing has been up 7% more days.

Are Thousand Oaks home prices going up or down?

The median asking price is 27.8% below its Jan 2024 peak. Per square foot the gap is smaller: 4.1% below the Feb 2024 high. Part of the drop is smaller homes coming to market. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller.

What is the fair market rent in Thousand Oaks?

HUD's fiscal year 2026 fair market rent for Ventura County is $2,693 a month for 2 bedrooms and $3,652 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.