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These days, finding an affordable place to live in the Banning area can be challenging. Home prices in Banning are now at a median cost of $365,078, lower than the California average of $812,006.
The average cost of rent is $1,887/mo in Banning, primarily driven by the current value of real estate in the Banning area. In Banning, 28.94% of households rent, and 42.56% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Banning is $5,844 per month. Households that rent pay about 32.29% of their income on rent here. Banning’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Beaumont, CA: higher priced homes
- Cherry Valley, CA: higher priced homes
- Cabazon, CA: less expensive homes
- Oak Glen, CA: higher priced homes
- Soboba Hot Springs, CA: equally priced homes
- Calimesa, CA: higher priced homes
- Forest Falls, CA: higher priced homes
- Yucaipa, CA: higher priced homes
- White Water, CA: less expensive homes
- Moreno, CA: higher priced homes
Cities with Similar Populations
- Romulus, MI: less expensive homes
- Indiana, PA: less expensive homes
- Independence, KY: less expensive homes
- Immokalee, FL: less expensive homes
- Saratoga, CA: higher priced homes
- Milford, OH: less expensive homes
- Tifton, GA: less expensive homes
- Union City, GA: less expensive homes
- Black Lick, OH: equally priced homes
- Wadsworth, OH: less expensive homes
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