Lake Elsinore (92532 zip code) vs. California Statewide Housing Trends

Lake Elsinore - 92532 Zip Code (March 2023)
Home Value: $586,000
Home Value Growth (YoY or year-over-year): 0.0%
For Sale Inventory: 43
Sale Inventory Growth (YoY): +66.7%
Price Cut Share for Home Listings: 26.7%
Monthly House Payment: $3,986 (PITI)
Mortgaged Home Percentage: 83.8%
Total Housing Units: 8,000
Population: 26,800
Median Household Income: $99,500
Median Age: 32.2
Homeownership Rate: 75.4%
Home Value to Household Income Ratio: 5.89x
House Payment as Percentage of Household Income: 48.1%

vs.

California Statewide Trends (March 2023)
Home Value: $728,000
Home Value Growth (YoY or year-over-year): -2.0%
For Sale Inventory: 34,822
Sale Inventory Growth (YoY): +32.2%
Price Cut Share for Home Listings: 14.8%
Monthly House Payment: $4,529 (PITI)
Mortgaged Home Percentage: 69.2%
Rent for Apartments: $2,514
Rent for Houses: $3,142
State Population: 39.5 million
Median Household Income: $88,300
Median Age: 37
Homeownership Rate: 55.5%
Home Value to Household Income Ratio: 8.25x
House Payment as Percentage of Household Income: 61.5% (or debt-to-income/DTI ratio - likely the #1 highest in the nation)

Sources: Realtor.com, Zillow, and US Census (some Census household data is from '21)

https://realty411guide.com/the-interconnected-california.../

Sources: Realtor.com, Zillow, and US Census (some Census household data is from '21)
www.realloans.com and www.socalrealestateclub.com