Hemet, CA—92544
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 $456,000, with a year-over-year change of -1.6%. This indicates that home prices in Hemet, CA are decreasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $456,000 | -1.6% |
| Single Family | $457,000 | -1.9% |
| Condos | $254,000 | -3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $247,000 | -5.7% |
2 Bed | $356,000 | -3.0% |
3 Bed | $451,000 | -2.0% |
4 Bed | $505,000 | -1.8% |
| 5 Bed | $566,000 | -1.7% |
% of Housing Stock
Rental Trends — Hemet, CA
As of July '25, Rentcast reports the average rent in Hemet, CA is $2,290, with a year-over-year rent change of 1.8%. Per bedroom, the median rent as of July '25 in Hemet, CA is 1-bedrooms: $1,310, 2-bedrooms: $1,850, 3-bedrooms: $2,510, 4-bedrooms: $2,860. The most common rental property sizes in Hemet, CA are 2-bedroom and 3-bedroom, accounting for 41.8% and 30.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,290 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,350 | $1,310 |
| 2 Bed Rent | $1,810 | $1,850 |
| 3 Bed Rent | $2,500 | $2,510 |
| 4 Bed Rent | $2,650 | $2,860 |
% 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 64. This is a increase of 41.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $487,000 | 1.0% |
Listing Count | 148 | 4.0% |
| Listings as % of Homes | 0.8% | 4.0% |
Days on Market | 64 | 41.0% |
Demographics — Hemet, CA
As of the latest ACS Survey released in 2023, Hemet, CA has a population of 51,700, which has increased by 5.7% over the past 5 years. Hemet, CA is a popular place for families, as children make up 28.0% of the population. The area has a poorly educated workforce, with 14.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 51,700 | 5.7% |
% Under 18 | 28.0% | 9.8% |
% Seniors | 14.1% | -7.8% |
% WFH | 8.5% | 150.0% |
% w/ College Degree | 14.2% | 6.8% |
As of the latest ACS Survey released in 2023, Hemet, CA is a predominantly hispanic area, with 49.5% of the population identifying as hispanic. The hispanic population has grown by 19.9% in the last 5 years. The second most common race or ethnicity in Hemet, CA is white, making up 40.1% of the population. Foreign-born residents account for 14.9% of the population in Hemet, CA, and this percentage has increased by 10.4% 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 | 40.1% | -15.8% |
% Black | 5.2% | 4.0% |
% Hispanic | 49.5% | 19.9% |
% Asian | 2.9% | 45.0% |
% Foreign Born | 14.9% | 10.4% |
Mortgage and Risk — Hemet, CA
According to HUD data as of 2023, there were 707 mortgage originations in Hemet, CA, of which 52.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Hemet, CA. Investor activity is low, as 2.0% 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 | 707 |
% Conventional Loans | 52.0% |
% Government Loans | 48.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Hemet, CA
As of 2024, the percent of homes in Hemet, CA under the Section 8 program is 5.3%. 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. 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 | 308 |
Total Units Section 8 | 291 |
% Rentals under Section 8 | 5.3% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $230 | $1,350 | $1,580 |
| 2 Bedroom | $160 | $1,810 | $1,970 |
| 3 Bedroom | $130 | $2,500 | $2,630 |
| 4 Bedroom | $550 | $2,650 | $3,200 |
Affordability — Hemet, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.5 |
| Median Home Price | $456,000 |
| Median Household Income | $67,000 |