Lake Elsinore, California Real Estate & Housing Market

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Lake Elsinore Housing Information

Index	Lake Elsinore	California	National
Median home price	$259,700	$409,300	$184,700
Median rent asked	$1,304	$1,297	$949
Avg. people per household	3.8	3.0	2.6
Owner occupied households	62.0%	54.1%	63.6%
Renter occupied households	38.0%	45.9%	36.4%

A general overview of the Lake Elsinore, CA real estate market is displayed above. The median home price for homes in Lake Elsinore, CA is $259,700, which is 37% lower than the California average. This means that real estate in the Lake Elsinore, CA area is generally more affordable than the rest of California. The median rent price in Lake Elsinore, CA is $1,304 which is 1% higher than the California average. In Lake Elsinore, CA, 62.0% of people are home owners and an average of 3.8 people occupy each home. From luxury houses to affordable condos to urban townhomes, there are many different types of real estate in Lake Elsinore, CA. We make it easy to find Lake Elsinore, CA real estate listings and homes for sale by filtering location, price, bedrooms and bathrooms in the search area above.

Lake Elsinore Home Affordability

Home affordability can be a very important factor when determining where to purchase real estate in Lake Elsinore, CA. One method that can be used to calculate home affordability is the home price to median household income ratio. The median home price in Lake Elsinore, CA is $259,700 and the median household income is $63,306. This results in a home price to income ratio of 4.1x, which is 36% lower than the California average. The home affordability ratio is calculated by dividing the median home price by the median home income. A lower than average home price to income ratio means that homes in Lake Elsinore, CA are more affordable based on the median price of homes compared to home income. Of course, there are many other factors to consider when focusing on home affordability. Use the home affordability calculator below to see exactly how much you can afford to pay for real estate in Lake Elsinore, CA.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Homeland, CA	6,628	$77,800	58%
Winchester, CA	2,407	$110,600	40%
Meadowbrook, CA	2,782	$138,900	25%
Green Acres, CA	2,560	$141,300	23%
Warm Springs, CA	1,709	$151,100	18%
Lake Elsinore, CA	60,230	$259,700	41%

Cities with similar population

City, State	Population	Home Price	National Avg.
Palm Harbor, FL	60,236	$178,300	3%
Meriden, CT	60,203	$174,800	5%
Cupertino, CA	60,297	$1,214,300	557%
Auburn, AL	60,318	$226,600	23%
National City, CA	60,349	$317,300	72%
Lake Elsinore, CA	60,230	$259,700	41%

Source: The Lake Elsinore, CA housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).