Downey, CA—90242
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downey, CA
As of Oct '25, the median home price in Downey, CA is $797,000, with a year-over-year change of -1.4%. This indicates that home prices in Downey, CA are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $797,000 | -1.4% |
| Single Family | $803,000 | -1.7% |
| Condos | $522,000 | -3.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $513,000 | -1.9% |
2 Bed | $704,000 | -0.6% |
3 Bed | $804,000 | -1.8% |
4 Bed | $888,000 | -1.4% |
| 5 Bed | $1,065,000 | -1.0% |
% of Housing Stock
Rental Trends — Downey, CA
As of July '25, Rentcast reports the average rent in Downey, CA is $2,540, with a year-over-year rent change of 6.3%. Per bedroom, the median rent as of July '25 in Downey, CA is studios: $1,620, 1-bedrooms: $1,920, 2-bedrooms: $2,660, 3-bedrooms: $4,420, 4-bedrooms: $5,000. The most common rental property sizes in Downey, CA are 2-bedroom and 1-bedroom, accounting for 40.7% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,540 |
| Studio Rent | $1,650 | $1,620 |
| 1 Bed Rent | $1,920 | $1,920 |
| 2 Bed Rent | $2,500 | $2,660 |
| 3 Bed Rent | $3,800 | $4,420 |
| 4 Bed Rent | $5,000 | $5,000 |
% of Rental Stock
Property Listings — Downey, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Downey, CA is 66. This is a increase of 41.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $894,000 | -2.0% |
Listing Count | 28 | 28.0% |
| Listings as % of Homes | 0.2% | 28.0% |
Days on Market | 66 | 41.0% |
Demographics — Downey, CA
As of the latest ACS Survey released in 2023, Downey, CA has a population of 41,000, which has decreased by -3.7% over the past 5 years. Downey, CA is a moderately popular place for families, as children make up 21.4% of the population. The area has a poorly educated workforce, with 24.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 41,000 | -3.7% |
% Under 18 | 21.4% | -11.9% |
% Seniors | 14.9% | 43.3% |
% WFH | 9.9% | 209.4% |
% w/ College Degree | 24.2% | 16.3% |
As of the latest ACS Survey released in 2023, Downey, CA is a predominantly hispanic area, with 77.5% of the population identifying as hispanic. The hispanic population has grown by 4.2% in the last 5 years. The second most common race or ethnicity in Downey, CA is white, making up 10.3% of the population. Foreign-born residents account for 33.0% of the population in Downey, CA, and this percentage has increased by 1.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 10.3% | -14.2% |
% Black | 3.9% | -22.0% |
% Hispanic | 77.5% | 4.2% |
% Asian | 6.6% | -2.9% |
% Foreign Born | 33.0% | 1.9% |
Mortgage and Risk — Downey, CA
According to HUD data as of 2023, there were 269 mortgage originations in Downey, CA, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Downey, CA. Investor activity is low, as 3.0% of loans were by investors. 21.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 269 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 21.0% |
Loan Activity
Rentals and Section 8 — Downey, CA
As of 2024, the percent of homes in Downey, CA under the Section 8 program is 2.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Downey, CA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 183 |
Total Units Section 8 | 183 |
% Rentals under Section 8 | 2.8% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,920 | $1,970 |
| 2 Bedroom | -$10 | $2,500 | $2,490 |
| 3 Bedroom | -$640 | $3,800 | $3,160 |
| 4 Bedroom | -$1,490 | $5,000 | $3,510 |
Affordability — Downey, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.8 |
| Median Home Price | $797,000 |
| Median Household Income | $83,200 |