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These days, finding an affordable place to live in the Pennington area can be challenging. Home prices in Pennington are now at a median cost of $504,524, lower than the California average of $812,006.
The average cost of rent is $1,899/mo in Pennington, primarily driven by the current value of real estate in the Pennington area. In Pennington, 14.55% of households rent, and 54.72% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Pennington is $9,981 per month. Households that rent pay about 19.02% of their income on rent here. Pennington’s most expensive areas are in the eastern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
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