Covina, CA—91723
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 $792,000, 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 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $792,000 | -0.7% |
| Single Family | $805,000 | -1.3% |
| Condos | $597,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $639,000 | -0.6% |
3 Bed | $796,000 | -1.1% |
4 Bed | $839,000 | -1.8% |
| 5 Bed | $967,000 | -1.5% |
% of Housing Stock
Rental Trends — Covina, CA
As of July '25, Rentcast reports the average rent in Covina, CA is $2,550, with a year-over-year rent change of 2.4%. Per bedroom, the median rent as of July '25 in Covina, CA is studios: $1,600, 1-bedrooms: $1,670, 2-bedrooms: $2,480, 3-bedrooms: $3,480. The most common rental property sizes in Covina, CA are 2-bedroom and 1-bedroom, accounting for 50.4% and 34.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,550 |
| Studio Rent | $1,600 | $1,600 |
| 1 Bed Rent | $1,700 | $1,670 |
| 2 Bed Rent | $2,500 | $2,480 |
| 3 Bed Rent | $3,400 | $3,480 |
| 4 Bed Rent | N/A | N/A |
% 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 68. This is a increase of 39.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $687,000 | 0.0% |
Listing Count | 20 | 35.0% |
| Listings as % of Homes | 0.3% | 35.0% |
Days on Market | 68 | 39.0% |
Demographics — Covina, CA
As of the latest ACS Survey released in 2023, Covina, CA has a population of 18,200, which has decreased by -3.6% over the past 5 years. Covina, CA is a moderately popular place for families, as children make up 21.0% of the population. The area has a poorly educated workforce, with 24.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,200 | -3.6% |
% Under 18 | 21.0% | -16.0% |
% Seniors | 13.5% | 14.4% |
% WFH | 10.8% | 315.4% |
% w/ College Degree | 24.9% | 12.2% |
As of the latest ACS Survey released in 2023, Covina, CA is a predominantly hispanic area, with 63.0% of the population identifying as hispanic. The hispanic population has grown by 0.3% in the last 5 years. The second most common race or ethnicity in Covina, CA is white, making up 18.6% of the population. Foreign-born residents account for 22.3% of the population in Covina, CA, and this percentage has increased by 1.4% 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 | 18.6% | -15.8% |
% Black | 4.8% | 17.1% |
% Hispanic | 63.0% | 0.3% |
% Asian | 11.3% | 27.0% |
% Foreign Born | 22.3% | 1.4% |
Mortgage and Risk — Covina, CA
According to HUD data as of 2023, there were 74 mortgage originations in Covina, CA, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Covina, CA. Investor activity is low, as 3.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 74 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Covina, CA
Covina, CA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 198 |
Total Units Section 8 | 198 |
% Rentals under Section 8 | 5.6% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $220 | $1,700 | $1,920 |
| 2 Bedroom | -$80 | $2,500 | $2,420 |
| 3 Bedroom | -$330 | $3,400 | $3,070 |
| 4 Bedroom | N/A | N/A | $3,410 |
Affordability — Covina, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.3 |
| Median Home Price | $792,000 |
| Median Household Income | $87,400 |