Menifee, CA—92586
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Menifee, CA
As of Oct '25, the median home price in Menifee, CA is $414,000, with a year-over-year change of -3.9%. This indicates that home prices in Menifee, 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 | $414,000 | -3.9% |
| Single Family | $424,000 | -4.1% |
| Condos | $274,000 | -4.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $187,000 | -5.1% |
2 Bed | $361,000 | -4.7% |
3 Bed | $468,000 | -3.7% |
4 Bed | $560,000 | -2.8% |
| 5 Bed | $665,000 | -1.9% |
% of Housing Stock
Rental Trends — Menifee, CA
As of July '25, Rentcast reports the average rent in Menifee, CA is $2,370, with a year-over-year rent change of -4.0%. Per bedroom, the median rent as of July '25 in Menifee, CA is studios: $1,870, 1-bedrooms: $1,780, 2-bedrooms: $2,010, 3-bedrooms: $2,690, 4-bedrooms: $3,150. The most common rental property sizes in Menifee, CA are 2-bedroom and 3-bedroom, accounting for 54.6% and 20.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,370 |
| Studio Rent | $2,100 | $1,870 |
| 1 Bed Rent | $1,700 | $1,780 |
| 2 Bed Rent | $1,980 | $2,010 |
| 3 Bed Rent | $2,650 | $2,690 |
| 4 Bed Rent | $3,080 | $3,150 |
% of Rental Stock
Property Listings — Menifee, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Menifee, CA is 65. This is a increase of 14.0% 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 | $400,000 | 1.0% |
Listing Count | 144 | 11.0% |
| Listings as % of Homes | 1.1% | 11.0% |
Days on Market | 65 | 14.0% |
Demographics — Menifee, CA
As of the latest ACS Survey released in 2023, Menifee, CA has a population of 19,400, which has decreased by -3.2% over the past 5 years. Menifee, CA is a less popular place for families, as children make up 12.6% of the population. The area has a poorly educated workforce, with 14.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,400 | -3.2% |
% Under 18 | 12.6% | -8.0% |
% Seniors | 41.8% | 5.0% |
% WFH | 14.3% | 248.8% |
% w/ College Degree | 14.1% | -7.8% |
As of the latest ACS Survey released in 2023, Menifee, CA is a predominantly white area, with 55.3% of the population identifying as white. The white population has shrunk by 12.6% in the last 5 years. The second most common race or ethnicity in Menifee, CA is hispanic, making up 30.8% of the population. Foreign-born residents account for 14.8% of the population in Menifee, CA, and this percentage has increased by 32.1% 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 | 55.3% | -12.6% |
% Black | 6.0% | -1.6% |
% Hispanic | 30.8% | 28.3% |
% Asian | 3.3% | 0.0% |
% Foreign Born | 14.8% | 32.1% |
Mortgage and Risk — Menifee, CA
According to HUD data as of 2023, there were 409 mortgage originations in Menifee, CA, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Menifee, 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
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 409 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Menifee, CA
As of 2024, the percent of homes in Menifee, CA under the Section 8 program is 7.8%. 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 Menifee, CA, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 196 |
Total Units Section 8 | 196 |
% Rentals under Section 8 | 7.8% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$50 | $1,700 | $1,650 |
| 2 Bedroom | $80 | $1,980 | $2,060 |
| 3 Bedroom | $100 | $2,650 | $2,750 |
| 4 Bedroom | $270 | $3,080 | $3,350 |
Affordability — Menifee, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.7 |
| Median Home Price | $414,000 |
| Median Household Income | $54,000 |