Covina, CA—91722
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Covina, CA
As of Oct '25, the median home price in Covina, CA is $749,000, with a year-over-year change of -0.7%. This indicates that home prices in Covina, CA are flat. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $749,000 | -0.7% |
| Single Family | $754,000 | -0.8% |
| Condos | $565,000 | -1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $633,000 | -0.3% |
3 Bed | $743,000 | -0.9% |
4 Bed | $781,000 | -0.9% |
| 5 Bed | $860,000 | -1.4% |
% of Housing Stock
Rental Trends — Covina, CA
As of July '25, Rentcast reports the average rent in Covina, CA is $3,050, with a year-over-year rent change of 2.0%. Per bedroom, the median rent as of July '25 in Covina, CA is 1-bedrooms: $2,120, 2-bedrooms: $2,150, 3-bedrooms: $3,590, 4-bedrooms: $3,280. The most common rental property sizes in Covina, CA are 2-bedroom and 3-bedroom, accounting for 29.4% and 28.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,250 | $3,050 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,000 | $2,120 |
| 2 Bed Rent | $2,150 | $2,150 |
| 3 Bed Rent | $3,500 | $3,590 |
| 4 Bed Rent | $3,500 | $3,280 |
% of Rental Stock
Property Listings — Covina, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Covina, CA is 49. This is a increase of 32.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $744,000 | -3.0% |
Listing Count | 55 | 24.0% |
| Listings as % of Homes | 0.4% | 24.0% |
Days on Market | 49 | 32.0% |
Demographics — Covina, CA
As of the latest ACS Survey released in 2023, Covina, CA has a population of 34,100, which has decreased by -4.5% over the past 5 years. Covina, CA is a moderately popular place for families, as children make up 19.4% of the population. The area has a poorly educated workforce, with 22.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,100 | -4.5% |
% Under 18 | 19.4% | -21.8% |
% Seniors | 14.0% | 14.8% |
% WFH | 10.2% | 277.8% |
% w/ College Degree | 22.7% | 6.6% |
As of the latest ACS Survey released in 2023, Covina, CA is a predominantly hispanic area, with 64.5% of the population identifying as hispanic. The hispanic population has shrunk by 1.4% in the last 5 years. The second most common race or ethnicity in Covina, CA is asian, making up 15.4% of the population. Foreign-born residents account for 31.1% of the population in Covina, CA, and this percentage has increased by 5.4% 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 | 13.7% | -18.9% |
% Black | 3.6% | 63.6% |
% Hispanic | 64.5% | -1.4% |
% Asian | 15.4% | 14.9% |
% Foreign Born | 31.1% | 5.4% |
Mortgage and Risk — Covina, CA
According to HUD data as of 2023, there were 327 mortgage originations in Covina, CA, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Covina, CA. Investor activity is low, as 4.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 327 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Covina, CA
As of 2024, the percent of homes in Covina, CA under the Section 8 program is 4.4%. 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 and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Covina, CA, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 134 |
Total Units Section 8 | 134 |
% Rentals under Section 8 | 4.4% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $2,000 | $2,150 |
| 2 Bedroom | $560 | $2,150 | $2,710 |
| 3 Bedroom | -$60 | $3,500 | $3,440 |
| 4 Bedroom | $320 | $3,500 | $3,820 |
Affordability — Covina, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.1 |
| Median Home Price | $749,000 |
| Median Household Income | $98,000 |