Hemet, CA—92543
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hemet, CA
As of Oct '25, the median home price in Hemet, CA is $377,000, with a year-over-year change of -3.6%. This indicates that home prices in Hemet, CA are decreasing. 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 | $377,000 | -3.6% |
| Single Family | $381,000 | -4.0% |
| Condos | $212,000 | -10.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $227,000 | -8.1% |
2 Bed | $319,000 | -5.6% |
3 Bed | $415,000 | -3.3% |
4 Bed | $507,000 | -1.7% |
| 5 Bed | $549,000 | -2.0% |
% of Housing Stock
Rental Trends — Hemet, CA
As of July '25, Rentcast reports the average rent in Hemet, CA is $2,090, with a year-over-year rent change of 8.3%. Per bedroom, the median rent as of July '25 in Hemet, CA is 1-bedrooms: $1,320, 2-bedrooms: $1,710, 3-bedrooms: $2,620, 4-bedrooms: $3,080. The most common rental property sizes in Hemet, CA are 2-bedroom and 1-bedroom, accounting for 47.6% and 24.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $2,090 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,320 |
| 2 Bed Rent | $1,750 | $1,710 |
| 3 Bed Rent | $2,500 | $2,620 |
| 4 Bed Rent | $3,100 | $3,080 |
% of Rental Stock
Property Listings — Hemet, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Hemet, CA is 72. This is a increase of 45.0% 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 | $399,000 | -6.0% |
Listing Count | 111 | -20.0% |
| Listings as % of Homes | 0.7% | -20.0% |
Days on Market | 72 | 45.0% |
Demographics — Hemet, CA
As of the latest ACS Survey released in 2023, Hemet, CA has a population of 39,900, which has increased by 6.0% over the past 5 years. Hemet, CA is a moderately popular place for families, as children make up 25.0% of the population. The area has a poorly educated workforce, with 12.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 39,900 | 6.0% |
% Under 18 | 25.0% | -13.2% |
% Seniors | 19.2% | 10.3% |
% WFH | 7.7% | 54.0% |
% w/ College Degree | 12.7% | 49.4% |
As of the latest ACS Survey released in 2023, Hemet, CA is a predominantly hispanic area, with 54.1% of the population identifying as hispanic. The hispanic population has grown by 5.0% in the last 5 years. The second most common race or ethnicity in Hemet, CA is white, making up 29.9% of the population. Foreign-born residents account for 20.9% of the population in Hemet, CA, and this percentage has increased by 25.9% 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 | 29.9% | -16.2% |
% Black | 10.6% | 15.2% |
% Hispanic | 54.1% | 5.0% |
% Asian | 2.2% | -12.0% |
% Foreign Born | 20.9% | 25.9% |
Mortgage and Risk — Hemet, CA
According to HUD data as of 2023, there were 410 mortgage originations in Hemet, CA, of which 44.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 58.0% above 90% LTV (very high). This implies large mortgage risk in Hemet, CA. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 410 |
% Conventional Loans | 44.0% |
% Government Loans | 56.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Hemet, CA
As of 2024, the percent of homes in Hemet, CA under the Section 8 program is 16.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Hemet, CA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,074 |
Total Units Section 8 | 935 |
% Rentals under Section 8 | 16.0% |
% Occupied Section 8 | 89.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $400 | $1,200 | $1,600 |
| 2 Bedroom | $240 | $1,750 | $1,990 |
| 3 Bedroom | $160 | $2,500 | $2,660 |
| 4 Bedroom | $130 | $3,100 | $3,230 |
Affordability — Hemet, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.8 |
| Median Home Price | $377,000 |
| Median Household Income | $47,000 |