Covina, CA—91724
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 $864,000, with a year-over-year change of 0.0%. This indicates that home prices in Covina, CA are flat. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $864,000 | 0.0% |
| Single Family | $886,000 | -0.2% |
| Condos | $545,000 | 0.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $534,000 | 0.2% |
3 Bed | $832,000 | 0.0% |
4 Bed | $938,000 | 0.0% |
| 5 Bed | $1,291,000 | 0.5% |
% of Housing Stock
Rental Trends — Covina, CA
As of July '25, Rentcast reports the average rent in Covina, CA is $3,630, with a year-over-year rent change of 3.1%. Per bedroom, the median rent as of July '25 in Covina, CA is 1-bedrooms: $2,340, 2-bedrooms: $2,470, 3-bedrooms: $3,740, 4-bedrooms: $4,450. The most common rental property sizes in Covina, CA are 2-bedroom and 1-bedroom, accounting for 29.7% and 29.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,630 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,420 | $2,340 |
| 2 Bed Rent | $2,500 | $2,470 |
| 3 Bed Rent | $3,350 | $3,740 |
| 4 Bed Rent | $4,500 | $4,450 |
% 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 56. This is a increase of 6.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $911,000 | -15.0% |
Listing Count | 54 | 16.0% |
| Listings as % of Homes | 0.4% | 16.0% |
Days on Market | 56 | 6.0% |
Demographics — Covina, CA
As of the latest ACS Survey released in 2023, Covina, CA has a population of 28,100, which has increased by 7.7% over the past 5 years. Covina, CA is a moderately popular place for families, as children make up 20.4% of the population. The area has a moderately educated workforce, with 35.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,100 | 7.7% |
% Under 18 | 20.4% | -4.7% |
% Seniors | 13.8% | -9.8% |
% WFH | 13.6% | 353.3% |
% w/ College Degree | 35.5% | 19.5% |
As of the latest ACS Survey released in 2023, Covina, CA is a predominantly hispanic area, with 54.6% of the population identifying as hispanic. The hispanic population has grown by 5.2% in the last 5 years. The second most common race or ethnicity in Covina, CA is white, making up 22.2% of the population. Foreign-born residents account for 23.9% of the population in Covina, CA, and this percentage has decreased by 5.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 22.2% | -17.2% |
% Black | 4.8% | 33.3% |
% Hispanic | 54.6% | 5.2% |
% Asian | 14.5% | -12.7% |
% Foreign Born | 23.9% | -5.9% |
Mortgage and Risk — Covina, CA
According to HUD data as of 2023, there were 307 mortgage originations in Covina, CA, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Covina, CA. Investor activity is low, as 2.0% 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 | 307 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 2.0% |
% 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 14.4%. 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. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Covina, CA, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 415 |
Total Units Section 8 | 415 |
% Rentals under Section 8 | 14.4% |
% Occupied Section 8 | 94.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$120 | $2,420 | $2,300 |
| 2 Bedroom | $400 | $2,500 | $2,900 |
| 3 Bedroom | $330 | $3,350 | $3,680 |
| 4 Bedroom | -$410 | $4,500 | $4,090 |
Affordability — Covina, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.8 |
| Median Home Price | $864,000 |
| Median Household Income | $102,000 |