Thermal, CA—92274
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Thermal, CA
As of Oct '25, the median home price in Thermal, CA is $294,000, with a year-over-year change of 5.5%. This indicates that home prices in Thermal, CA are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $294,000 | 5.5% |
| Single Family | $295,000 | 5.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $244,000 | 8.4% |
3 Bed | $305,000 | 5.2% |
4 Bed | $326,000 | 5.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Thermal, CA
As of July '25, Rentcast reports the average rent in Thermal, CA is $1,820, with a year-over-year rent change of -9.9%. Per bedroom, the median rent as of July '25 in Thermal, CA is 1-bedrooms: $2,750, 2-bedrooms: $1,370, 3-bedrooms: $1,960, 4-bedrooms: $1,950. The most common rental property sizes in Thermal, CA are 3-bedroom and 2-bedroom, accounting for 49.0% and 20.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,920 | $1,820 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,750 | $2,750 |
| 2 Bed Rent | $1,400 | $1,370 |
| 3 Bed Rent | $1,920 | $1,960 |
| 4 Bed Rent | $1,950 | $1,950 |
% of Rental Stock
Property Listings — Thermal, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Thermal, CA is 63. This is a decrease of -2.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $330,000 | 0.0% |
Listing Count | 47 | -19.0% |
| Listings as % of Homes | 0.9% | -19.0% |
Days on Market | 63 | -2.0% |
Demographics — Thermal, CA
As of the latest ACS Survey released in 2023, Thermal, CA has a population of 17,900, which has increased by 18.5% over the past 5 years. Thermal, CA is a moderately popular place for families, as children make up 24.7% of the population. The area has a poorly educated workforce, with 5.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,900 | 18.5% |
% Under 18 | 24.7% | -14.2% |
% Seniors | 13.2% | 26.9% |
% WFH | 2.8% | -3.4% |
% w/ College Degree | 5.3% | 15.2% |
As of the latest ACS Survey released in 2023, Thermal, CA is a predominantly hispanic area, with 88.3% of the population identifying as hispanic. The hispanic population has grown by 1.1% in the last 5 years. The second most common race or ethnicity in Thermal, CA is white, making up 10.1% of the population. Foreign-born residents account for 42.4% of the population in Thermal, CA, and this percentage has increased by 4.4% 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 | 10.1% | -4.7% |
% Black | 0.6% | -33.3% |
% Hispanic | 88.3% | 1.1% |
% Asian | 0.4% | 33.3% |
% Foreign Born | 42.4% | 4.4% |
Mortgage and Risk — Thermal, CA
According to HUD data as of 2023, there were 100 mortgage originations in Thermal, CA, of which 45.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 53.0% above 90% LTV (very high). This implies large mortgage risk in Thermal, CA. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 100 |
% Conventional Loans | 45.0% |
% Government Loans | 55.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Thermal, CA
As of 2024, the percent of homes in Thermal, CA under the Section 8 program is 3.8%. 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. 2-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Thermal, CA, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 50 |
Total Units Section 8 | 50 |
% Rentals under Section 8 | 3.8% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$1,300 | $2,750 | $1,450 |
| 2 Bedroom | $410 | $1,400 | $1,810 |
| 3 Bedroom | $520 | $1,920 | $2,440 |
| 4 Bedroom | $1,030 | $1,950 | $2,980 |
Affordability — Thermal, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7 |
| Median Home Price | $294,000 |
| Median Household Income | $36,100 |