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City · 11,119 residents · Riverside County, California

Canyon Lake , California

In Canyon Lake, a typical home is worth $699,600 and typical rent is $2,608 a month. Compared with all of Riverside County, typical rent is 37% higher, typical household income is 36% higher, and the share of households that own their home is 16 points higher.

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  • Typical home value

    $699,600

    26% above the county

    5% below California

    • Canyon Lake
    • Riverside
    • California

  • Typical rent

    $2,608a month

    37% above the county

    28% above California

    • Canyon Lake
    • Riverside
    • California

  • Typical household income

    $126,926a year

    36% above the county

    28% above California

    • Canyon Lake
    • Riverside
    • California

  • Households that own their home

    85%

    16 points above the county

    29 points above California

    • Canyon Lake
    • Riverside
    • California

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$703,487
2.2% more than 12 months ago
Typical rent
$3,767 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Canyon Lake 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

Data updated: October 1, 2026 11 official sources

Only here

What sets Canyon Lake apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Good Hope, the typical home value is $391,700: 44% less than in Canyon Lake ($699,600).

  2. Nearby, in Good Hope, the typical rent is $1,528: 41% less than in Canyon Lake ($2,608).

  3. The typical rent in Canyon Lake is $2,608 a month, 37% more than in Riverside County as a whole ($1,901).

  4. The typical household income in Canyon Lake is $126,926, 36% more than in Riverside County as a whole ($93,074).

  5. 85% of households in Canyon Lake own their home, against 69% in Riverside County.

  6. Canyon Lake has the 31st smallest share of rent-burdened renters of the 616 cities in California with more than 5,000 people (40%).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Canyon Lake

What homes there are in Canyon Lake, 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

In Canyon Lake, 9 in 10 homes are single-family detached houses; in Riverside County, 7.

Year built

Homes in Canyon Lake are older: the typical year built is 1985; in Riverside County, 1990.

Homes in Canyon Lake are bigger: 87% have 3 bedrooms or more; in Riverside County, 66%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$2,981 a month

Riverside County: $2,583 a month

Without a mortgage

$1,091 a month

Riverside County: $781 a month

Owners with a mortgage

70%

Riverside County: 69%

Owning costs more in Canyon Lake: with a mortgage, the typical cost is $2,981 a month; in Riverside County, $2,583. Without one, $1,091.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, home values in Canyon Lake rose at about the same pace as in Riverside County: 58% against 59%.

Since 2015–2019, the typical rent in Canyon Lake rose 27%, less than in Riverside County (38%).

The typical household income in Canyon Lake rose 26% over that time; home values changed +58% and rent +27%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureCanyon LakeRiverside CountyCaliforniaUnited States
Rental vacancy Unreliable estimate5.0%4.2%5.5%
Homeowner vacancy Unreliable estimate1.0%0.8%0.9%
More than one person per room Unreliable estimate7.8%8.2%3.4%
People per household 2.703.152.842.53
Drive alone 60%73%66%69%
Carpool 9%11%10%9%
Public transit Unreliable estimate1%3%3%
Walk or bike Unreliable estimate1%3%3%
Work from home 29%12%17%15%
Other means Unreliable estimate1%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

Fewer people live in each home here: 2.70 on average, against 3.15 in Riverside County.

In Canyon Lake, 29% of workers work from home, more than in Riverside County (12%).

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Canyon Lake?

A typical home costs more than the typical income allows

We start with a typical home in Canyon Lake, worth $699,600, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 54% of the typical household income in Canyon Lake, which is $126,926 a year. For that payment to be 28% of income, a household would need to earn about $244,179 a year.

The calculator's FHA and conventional loan limits are those of all of Riverside County.

Your numbers

Local data
$

Starts at the typical home value in Canyon Lake. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $24,486 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$5,698

at 7.18% · 30 years

Loan amount
$686,928
Total interest
$988,329
Paid off in
November 2056

Includes $11,814 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,962 a month

  • Tight

    $2,962 to $3,808 a month

  • Hard

    more than $3,808 a month

    Your payment · 54%

Compared with the typical household income in Canyon Lake ($126,926 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$5,698
Principal & interest$4,653
Property tax$443
Home insurance$292
FHA mortgage insurance (MIP)$309

You need at least $24,486 for the down payment, plus closing costs.

Next step

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.

The city and its county

Canyon Lake and Riverside County

Canyon Lake 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).

Canyon Lake's own numbers

Typical home value
$699,600
Typical monthly rent
$2,608
Typical yearly household income
$126,926
Households that own their home
85%
Effective property tax rate
0.76%

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.

Everything about Riverside County

Buying

Buying a home in Canyon Lake

A typical home in Canyon Lake is worth $699,600: 26% above the county and 5% below California. With the typical household income in Canyon Lake ($126,926 a year), a typical home costs 5.5 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.

  • Canyon Lake 5.5 years
  • Riverside 6.0 years
  • California 7.4 years
  • United States 4.1 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.

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

Canyon Lake 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
  • Canyon Lake $699,600
  • Riverside $557,300
  • California $734,700
  • United States $332,700
Typical monthly rent
  • Canyon Lake $2,608
  • Riverside $1,901
  • California $2,036
  • United States $1,413
Typical yearly household income
  • Canyon Lake $126,926
  • Riverside $93,074
  • California $99,122
  • United States $80,734
See the full table
Canyon Lake next to Riverside County and California
Measure Canyon Lake Riverside County California U.S.
Typical home value $699,600 $557,300 $734,700 $332,700
Typical monthly rent $2,608 $1,901 $2,036 $1,413
Typical yearly household income $126,926 $93,074 $99,122 $80,734
Households that own their home 85% 69% 56% 65%
Typical yearly property tax $5,346 $4,348 $5,124 $3,119
Effective property tax rate 0.76% 0.78% 0.7% 0.94%
Renters with high rent for their income 40% 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 Canyon Lake

For a typical $699,600 home in Canyon Lake, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Canyon Lake's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $5,698a month

    Least cash to close
    Down payment
    $24,486
    Cash to close
    $45,474
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $309

  • Conventional, 5% down $5,569a month

    Down payment
    $34,980
    Cash to close
    $55,968
    Rate
    7.18%
    Mortgage insurance
    PMI · $332

  • Conventional, 20% down, no PMI $4,526a month

    Down payment
    $139,920
    Cash to close
    $160,908
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $5,173a month

    Down payment
    $104,940
    Cash to close
    $125,928
    Rate
    8.18%
    Mortgage insurance
    None

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.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Canyon Lake and for Riverside County.

Property tax

Effective rate in Canyon Lake

0.76%of the home’s value each year

$5,346 a year for the typical owner in Canyon Lake.

  • Canyon Lake 0.76%
  • Riverside 0.78%
  • California 0.7%

What California publishes Homeowners' exemption (California State Board of Equalization (BOE))

Exemptions and deadlines in California

Flood risk in Riverside County

FEMA does not publish these numbers by city: they are for all of Riverside County.

Homes in the high-risk zone
1.9%
14,072
Of those, with NFIP insurance
16%
County California U.S.
Homes in the high-risk zone 1.9% 2.8% 3.5%
Of those, with NFIP insurance 16% 31% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Canyon Lake

Typical rent in Canyon Lake is $2,608 a month: 37% above the county. In Canyon Lake, 40% 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.

HUD fair market rent for all of Riverside County

What you need to earn to pay it without spending more than 30% of income, working full time.

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 Canyon Lake

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Canyon Lake is in ZIP code 92587.

For 2 bedrooms it is $2,560: $457 more than the fair market rent for Riverside County ($2,103).

  • 92587 $2,560$3,420

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Canyon Lake 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 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Canyon Lake

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.

A man leans over the armchair to help a teenage girl with her book.

HUD counseling is free or low-cost

Assistance programs in Canyon Lake

No down payment, repair or rent-help program on our list is for Canyon Lake or Riverside County. The ones below are statewide in California: they work in Canyon Lake the same as in the rest of the state.

Which programs do I qualify for? All programs in California

  • MyHome Assistance Program

    Statewide in California

    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).

    Deferred

    See the program Official page

  • California Dream For All Shared Appreciation Loan

    Statewide in California

    Closed, per the source

    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).

    Shared appreciation

    See the program Official page

  • MyAccess Program

    Statewide in California

    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).

    Deferred

    See the program Official page

Housing counselors near Canyon Lake

The HUD-approved agencies closest to the center of Canyon Lake, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Fair Housing Council of Riverside County, Inc.- Moreno Valley

    23890 Alessandro Blvd Ste A1, Moreno Valley · 16 miles away · Spanish

    • Mortgage delinquency and default
    • Fair housing pre-purchase workshops
    • and 4 more
    (951) 653-8314

  • Nid-Hca Riverside / San Bernardino County

    23945 Sunnymead Blvd, Moreno Valley · 17 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 9 more
    (951) 399-4538

  • Carolyn E. Wylie Center for Children, Youth and Families

    4164 Brockton Ave, Riverside · 21 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and credit workshops
    • and 5 more
    (951) 683-5193

Every agency in Riverside County All counseling agencies in California

Help in Spanish near Canyon Lake

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Canyon Lake

HUD’s record names them for Canyon Lake or Riverside County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the County of Riverside Section 8 vouchers (951) 351-0700

All housing agencies in California Source: HUD

Cities

Other cities in Riverside County

These cities are also in Riverside County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Riverside County Housing in California
See 35 more cities in Riverside County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Canyon Lake, with the typical home value.

Neighboring counties

If Riverside County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Canyon Lake.

All guides
A father, a mother and their daughter smile among the avocado trees by their home in Somis, California.

Questions

Housing questions about Canyon Lake

Short answers with the numbers for Canyon Lake 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 Canyon Lake?

The typical home value in Canyon Lake is $699,600, 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 Canyon Lake?

Typical rent in Canyon Lake is $2,608 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 Canyon Lake?

Canyon Lake 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 Canyon Lake?

The typical homeowner in Canyon Lake pays $5,346 a year, according to the U.S. Census Bureau. That is 0.76% of the home’s value; in Riverside County, the rate is 0.78%.

Where can I find free help to buy or rent in Canyon Lake?

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.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).