City · 31,093 residents · Riverside County, California
Banning, California
In Banning, a typical home is worth $352,100 and typical rent is $1,650 a month. Compared with all of Riverside County, the typical home value is 37% lower and typical household income is 34% lower.
Typical home value from Zillow, September 2021 to September 2026: from $363,039 to $409,691.
Typical rent
$1,870a month
▲ 3.3% more than 12 months ago
Typical rent from Zillow, March 2025 to September 2026: from $1,748 to $1,870.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Banning is in Riverside County. The FHA loan limit ($690,000 for a one-unit home), the fair market rents and the help on this page are those of all of Riverside County. See the county
What this place has that others do not, from public data, most unusual first.
1
The typical home in Banning is worth $352,100,37% less than in Riverside County as a whole ($557,300).
2
The typical household income in Banning is $61,764,34% less than in Riverside County as a whole ($93,074).
3
Nearby, in Cherry Valley, the typical rent is $1,399: 15% less than in Banning ($1,650).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Banning
What homes there are in Banning, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Banning
Riverside County
California
United States
Kind of home: Banning and its comparisons
Measure
Banning
Riverside County
California
United States
Detached house
74%
69%
57%
61%
Attached house
6%
6%
7%
6%
Building of 2 to 4
Unreliable estimate
5%
8%
8%
Apartments (5 or more)
6%
12%
24%
19%
Mobile home
11%
9%
4%
6%
Boat, RV and other
Unreliable estimate
0%
0%
0%
The detached house rules in Banning: 74% of homes, more than in Riverside County (69%).
Year built
Before 19601960–19791980–19992000–20092010 or later
Banning
Riverside County
California
United States
Year built: Banning and its comparisons
Measure
Banning
Riverside County
California
United States
Before 1960
19%
9%
27%
26%
1960–1979
23%
21%
29%
24%
1980–1999
39%
34%
25%
25%
2000–2009
14%
24%
11%
14%
2010 or later
5%
11%
8%
11%
The typical home in Banning was built in 1984, 6 years before the typical one in Riverside County.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100K11%
$100K–$200KUnreliable
$200K–$300K16%
$300K–$500K57%
$500K–$750K10%
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Banning and its comparisons
Measure
Banning
Under $100K
11%
$100K–$200K
Unreliable estimate
$200K–$300K
16%
$300K–$500K
57%
$500K–$750K
10%
$750K–$1M
Unreliable
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$9999%
$1,000–$1,49932%
$1,500–$1,99925%
$2,000–$2,49919%
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Banning and its comparisons
Measure
Banning
Under $500
Unreliable estimate
$500–$999
9%
$1,000–$1,499
32%
$1,500–$1,999
25%
$2,000–$2,499
19%
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
With a mortgage
$1,889 a month
Riverside County: $2,583 a month
Without a mortgage
$679 a month
Riverside County: $781 a month
Owners with a mortgage
53%
Riverside County: 69%
Owning costs less in Banning: with a mortgage, the typical cost is $1,889 a month; in Riverside County, $2,583. Without one, $679.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Banning+50%
Riverside County+59%
California+46%
United States+53%
Typical rent
Banning+63%
Riverside County+38%
California+36%
United States+33%
Typical household income
Banning+46%
Riverside County+39%
California+32%
United States+29%
Change since 2015–2019: Banning and its comparisons
Measure
Banning
Riverside County
California
United States
Typical home value
+50%
+59%
+46%
+53%
Typical rent
+63%
+38%
+36%
+33%
Typical household income
+46%
+39%
+32%
+29%
The typical home value in Banning rose 50% since 2015–2019, less than in Riverside County (59%).
Rents in Banning rose faster than in Riverside County: 63% since 2015–2019, against 38%.
The typical household income in Banning rose 46%: less than home values (+50%) and rent (+63%).
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Banning and its comparisons
Measure
Banning
Riverside County
California
United States
Rental vacancy
Unreliable estimate
5.0%
4.2%
5.5%
Homeowner vacancy
Unreliable estimate
1.0%
0.8%
0.9%
More than one person per room
7.2%
7.8%
8.2%
3.4%
People per household
2.65
3.15
2.84
2.53
Drive alone
75%
73%
66%
69%
Carpool
14%
11%
10%
9%
Public transit
Unreliable estimate
1%
3%
3%
Walk or bike
Unreliable estimate
1%
3%
3%
Work from home
8%
12%
17%
15%
Other means
Unreliable estimate
1%
2%
2%
Typical commute
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
In Banning, 7.2% of households live with more than one person per room, about the same as in Riverside County.
On average, a household in Banning has 2.65 people, fewer than in Riverside County (3.15).
In Banning, 14% of workers share a car to get to work; in Riverside County, 11%.
Do the math
What would you pay each month for a home in Banning?
A typical home costs more than the typical income allows
We start with a typical home in Banning, worth $352,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 56% of the typical household income in Banning, which is $61,764 a year. For that payment to be 28% of income, a household would need to earn about $123,269 a year.
The calculator's FHA and conventional loan limits are those of all of Riverside County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Banning. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $12,324 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$2,876
at 7.18% · 30 years
Loan amount
$345,722
Total interest
$497,413
Paid off in
November 2056
Includes $5,946 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,441 a month
Tight
$1,441 to $1,853 a month
Hard
more than $1,853 a month
Your payment · 56%
Compared with the typical household income in Banning ($61,764 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$2,342
Property tax
$232
Home insurance
$147
FHA mortgage insurance (MIP)
$156
You need at least $12,324 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $2,876; principal and interest $2,342.
The city and its county
Banning and Riverside County
Banning is in Riverside County, California. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Banning
Map of Riverside County, California, with Banning marked. Around it, the neighboring counties.
Banning
Riverside County
Other cities with a page
Banning's own numbers
Typical home value
$352,100
Typical monthly rent
$1,650
Typical yearly household income
$61,764
Households that own their home
70%
Effective property tax rate
0.79%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Riverside County
FHA limit, one-unit home
$690,000
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$2,103
Price change over 5 years (FHFA)
+54%
Homes in a high flood-risk zone
1.9%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Riverside County.
A typical home in Banning is worth $352,100: 37% below the county and 52% below California. With the typical household income in Banning ($61,764 a year), a typical home costs 5.7 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Banning5.7 years
Riverside6.0 years
California7.4 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Riverside County
According to FHFA’s house price index, home prices in Riverside County rose 105% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Riverside County.
Yearly change in FHFA’s price index in Riverside County, 2016 to 2025
2016: +6.6% +6.6% 2016
2017: +7.7% +7.7% 2017
2018: +7.1% +7.1% 2018
2019: +4.0% +4.0% 2019
2020: +4.1% +4.1% 2020
2021: +17.3% +17.3% 2021
2022: +19.1% +19.1% 2022
2023: +3.1% +3.1% 2023
2024: +5.8% +5.8% 2024
2025: +1.3% +1.3% 2025
Change in FHFA’s price index in Riverside County, California and the United States
Period
County
California
U.S.
Last year (2025)
+1.3%
+0.8%
+2.9%
5 years (2020–2025)
+54%
+40%
+47%
10 years (2015–2025)
+105%
+80%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Banning next to Riverside County, California and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Banning$352,100
Riverside$557,300
California$734,700
United States$332,700
Typical monthly rent
Banning$1,650
Riverside$1,901
California$2,036
United States$1,413
Typical yearly household income
Banning$61,764
Riverside$93,074
California$99,122
United States$80,734
See the full table
Banning next to Riverside County and California
Measure
Banning
Riverside County
California
U.S.
Typical home value
$352,100 ▼37% below the county
$557,300
$734,700
$332,700
Typical monthly rent
$1,650 ▼13% below the county
$1,901
$2,036
$1,413
Typical yearly household income
$61,764 ▼34% below the county
$93,074
$99,122
$80,734
Households that own their home
70% ▲1 points above the county
69%
56%
65%
Typical yearly property tax
$2,772 ▼36% below the county
$4,348
$5,124
$3,119
Effective property tax rate
0.79% ▲0.01 points above the county
0.78%
0.7%
0.94%
Renters with high rent for their income
62% ▲2 points above the county
59%
55%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Riverside County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Banning
For a typical $352,100 home in Banning, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Banning's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$2,876a month
Least cash to close
Down payment
$12,324
Cash to close
$22,887
Rate
7.18%
Mortgage insurance
FHA MIP · $156
Conventional, 5% down$2,812a month
Down payment
$17,605
Cash to close
$28,168
Rate
7.18%
Mortgage insurance
PMI · $167
Conventional, 20% down, no PMI$2,287a month
Down payment
$70,420
Cash to close
$80,983
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$2,612a month
Down payment
$52,815
Cash to close
$63,378
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Banning
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$2,876
$12,324
$345,723
7.18%
FHA MIP · $156
$22,887
580
Conventional, 5% down
$2,812
$17,605
$334,495
7.18%
PMI · $167
$28,168
620*
Conventional, 20% down, no PMI
$2,287
$70,420
$281,680
7.18%
None
$80,983
620*
ITIN, 15% down (example)
$2,612
$52,815
$299,285
8.18%
None
$63,378
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Banning is $1,650 a month: 13% below the county. In Banning, 62% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Riverside County, by unit size. To pay the 2-bedroom one ($2,103 a month) without spending more than 30% of your income, you would need to earn $40.44 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Riverside County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,605
$30.87
$64,200
1 bedroom
$1,705
$32.79
$68,200
2 bedrooms
$2,103
$40.44
$84,120
3 bedrooms
$2,771
$53.29
$110,840
4 bedrooms
$3,336
$64.15
$133,440
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Banning
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Banning is in ZIP code 92220.
For 2 bedrooms it is $1,990: $113 less than the fair market rent for Riverside County ($2,103).
Fair market rent by ZIP code and size in Banning, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
92220
$1,530
$1,600
$1,990
$2,630
$3,170
ZIP code2 bd3 bd
92220 $1,990$2,630
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Banning when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 9 HUD-approved agencies with an office in Riverside County; 7 say they serve in Spanish.
No down payment, repair or rent-help program on our list is for Banning or Riverside County. The ones below are statewide in California: they work in Banning the same as in the rest of the state.
CalHFA second loan with deferred payments for the down payment or closing costs of first-time buyers in California.Offered by California Housing Finance Agency (CalHFA).
CalHFA down payment loan for first-generation buyers in California; when you sell, you repay the loan plus a share of the home's appreciation.Offered by California Housing Finance Agency (CalHFA).
CalHFA second loan with deferred payments for the down payment or closing costs of first-time buyers who use the CalPLUS Access mortgage (FHA or conventional).Offered by California Housing Finance Agency (CalHFA).
No legal help resource on our list is for Banning or Riverside County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Banning and all of Riverside County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Banning?
The typical home value in Banning is $352,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Riverside County it is $557,300.
How much does it cost to rent in Banning?
Typical rent in Banning is $1,650 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Riverside County is $2,103.
What is the FHA loan limit in Banning?
Banning uses the FHA limit for all of Riverside County (2026): $690,000 for a one-unit home and $1,326,950 for a four-unit home.
How much property tax do owners pay in Banning?
The typical homeowner in Banning pays $2,772 a year, according to the U.S. Census Bureau. That is 0.79% of the home’s value; in Riverside County, the rate is 0.78%.
Where can I find free help to buy or rent in Banning?
There are 9 HUD-approved counseling agencies with an office in Riverside County. 7 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.
