Hemet, CA92545

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$447,000
3.0% YoY Growth
Median Household Income
$59,600
27.0% 5-Year Growth
Days on Market
62
28.0% Longer than last year
Home Price Forecast
1.2%
Median Rent
$2,300
3.7% YoY Growth
1-Bed Rent
$1,300
8.5% YoY Growth
2-Bed Rent
$1,750
1.6% YoY Growth
3-Bed Rent
$2,500
4.9% YoY Growth

Other Zip Codes in Hemet, CA

Property Listings — Hemet, CA

As of Oct '25, Realtor.com reports that the median days on market for a home in Hemet, CA is 62. This is a increase of 28.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.

MetricZip Code AverageYear over Year % Change
Median Listing Price
$454,0002.0%
Listing Count
1764.0%
Listings as % of Homes0.8%4.0%
Days on Market
6228.0%
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Demographics — Hemet, CA

As of the latest ACS Survey released in 2023, Hemet, CA has a population of 45,800, which has increased by 8.3% over the past 5 years. Hemet, CA is a moderately popular place for families, as children make up 21.2% of the population. The area has a poorly educated workforce, with 17.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.4% reporting working from home.

MetricLatest CensusYoY % Change
Population
45,8008.3%
% Under 18
21.2%-11.3%
% Seniors
25.8%-3.4%
% WFH
11.4%208.1%
% w/ College Degree
17.2%24.6%
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As of the latest ACS Survey released in 2023, Hemet, CA is a predominantly hispanic area, with 46.2% of the population identifying as hispanic. The hispanic population has grown by 24.9% in the last 5 years. The second most common race or ethnicity in Hemet, CA is white, making up 35.3% of the population. Foreign-born residents account for 19.4% of the population in Hemet, CA, and this percentage has increased by 33.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

MetricLatest Census5-Year % Change
% White
35.3%-27.5%
% Black
8.1%26.6%
% Hispanic
46.2%24.9%
% Asian
4.8%11.6%
% Foreign Born
19.4%33.8%
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Mortgage and Risk — Hemet, CA

According to HUD data as of 2023, there were 820 mortgage originations in Hemet, CA, of which 49.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 49.0% 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. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

MetricZip Code Average
Total Loan Originations
820
% Conventional Loans
49.0%
% Government Loans
51.0%
% Investor Loans
2.0%
% Second Loans
0.0%
% Cash Out Refinance
15.0%

Loan Activity

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Rentals and Section 8 — Hemet, CA

As of 2024, the percent of homes in Hemet, CA under the Section 8 program is 12.0%. 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
505
Total Units Section 8
505
% Rentals under Section 8
12.0%
% Occupied Section 8
89.1%

Section 8 Opportunity

Home SizeHUD PremiumMarket RentMax HUD Rent
1 Bedroom$390$1,300$1,690
2 Bedroom$360$1,750$2,110
3 Bedroom$320$2,500$2,820
4 Bedroom$450$2,980$3,430

Affordability — Hemet, CA

Home Price to Income Ratio

MetricZip Code Average
Home Price to Income Ratio7.4
Median Home Price$447,000
Median Household Income$59,600

Hemet, CA — ZIP Code Boundary Map

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Frequently Asked Questions