Find Real Estate Listings In Torrance

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Open House Listings In Torrance

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Real Estate Listings In Torrance

Torrance Real Estate Market Facts

  • $652,600Median home price
    59% higher than California
  • $1,512Median rent asked
    17% higher than California
  • 55.0%Home owners
    2% higher than California
  • 2.6People per home
    11% lower than California
Above, you will see a summary of real estate in Torrance, CA. On average, homes in Torrance, CA cost $652,600, a value that is 59% higher than the average in California. In general terms, this results in Torrance, CA real estate being less affordable than California real estate. On average, people who rent houses in Torrance, CA pay $1,512; this value is 17% higher than the average amount renters pay in California. 55.0% of Torrance, CA residents own their own homes and, on average, each of the homes has 2.6 occupants. Torrance, CA real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Torrance, CA is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Torrance Home Affordability

  • $652,600Median home price
    59% higher than California
  • $80,862Median home income
    27% higher than California
  • 8.1xHome price to income ratio
    26% higher than California
It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Torrance, CA. To estimate home affordability, one method is to use the ratio of home price to median household income. The Torrance, CA’s median home price stands at $652,600 while $80,862 is the value of the average household income. The resulting home price to income ratio, which is 8.1x, differs from the California average as the ratio is 26% higher than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Torrance, CA are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Torrance, CA.

Torrance Affordability Calculator

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Are you looking for real estate in Torrance, CA? Be careful not to purchase a home outside of your budget. A home affordability calculator lets you input your income, down payment, and debts to figure out how much you can afford to spend on your new home. If you know further information, such as mortgage term and rate or insurance, taxes, and HOA dues, you can input that as well to get a better estimate of the total cost. The calculator will show you the maximum amount you can afford to spend on a home. With that number in mind, you can start looking for a home in Torrance, CA and avoid homes that don’t fit in your budget to guard yourself from an emotional, yet costly, decision. Thanks to the home affordability calculator, you can also create a stronger budget plan. Once you know your housing costs, you can figure out how much money you should spend and how much money you can save.

Torrance Mortgage Calculator

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What will I pay monthly if I buy real estate in Torrance, CA? Determining the monthly payment amount of a home is based on a number of different factors. Obviously, the most significant variable is the overall price of the house, but there are also other considerations to make such as homeowners insurance, the interest rate, amount of the down payment, property taxes, private mortgage insurance (PMI), and even home owner's association dues. A great way to eliminate the PMI is by paying 20% of the cost of the house as a down payment. The mortgage calculator is filled out with default values for these variables, but they can be reset to give you a more accurate payment amount. The best rule when it comes to house payments is that you want to keep your debt to income ratio at no more than 36%. This means paying no more than 36% of your monthly income on your housse and all other debt payments.

Torrance Demographics

  • 147,307Population
  • 7,194People / sq mile
  • 41.7Median age
  • 1.0:1Male/Female ratio

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Westside, CA269$0100%
Willowbrook, CA22,035$246,80034%
Compton, CA97,740$264,30043%
Florence-Graham, CA63,390$267,80045%
East Rancho Dominguez, CA15,887$277,80050%
Torrance, CA147,307$652,600253%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Joliet, IL147,515$163,90011%
Bridgeport, CT147,022$168,2009%
Paterson, NJ146,894$236,00028%
Hollywood, FL148,114$197,1007%
Clarksville, TN146,281$140,00024%
Torrance, CA147,307$652,600253%
Source: The Torrance, CA housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).