Menifee, CA—92587
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 $633,000, with a year-over-year change of -1.4%. This indicates that home prices in Menifee, CA are decreasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $633,000 | -1.4% |
| Single Family | $638,000 | -1.5% |
| Condos | $468,000 | -1.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $414,000 | -3.0% |
3 Bed | $609,000 | -1.6% |
4 Bed | $739,000 | -1.3% |
| 5 Bed | $893,000 | -1.1% |
% of Housing Stock
Rental Trends — Menifee, CA
As of July '25, Rentcast reports the average rent in Menifee, CA is $3,460, with a year-over-year rent change of 13.4%. Per bedroom, the median rent as of July '25 in Menifee, CA is studios: $1,600, 1-bedrooms: $2,110, 2-bedrooms: $2,700, 3-bedrooms: $3,420, 4-bedrooms: $4,150. The most common rental property sizes in Menifee, CA are 3-bedroom and 2-bedroom, accounting for 53.3% and 32.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,500 | $3,460 |
| Studio Rent | $1,600 | $1,600 |
| 1 Bed Rent | $2,200 | $2,110 |
| 2 Bed Rent | $2,450 | $2,700 |
| 3 Bed Rent | $3,350 | $3,420 |
| 4 Bed Rent | $3,800 | $4,150 |
% 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 64. This is a increase of 24.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $775,000 | 12.0% |
Listing Count | 123 | 26.0% |
| Listings as % of Homes | 1.0% | 26.0% |
Days on Market | 64 | 24.0% |
Demographics — Menifee, CA
As of the latest ACS Survey released in 2023, Menifee, CA has a population of 18,400, which has increased by 5.2% over the past 5 years. Menifee, CA is a popular place for families, as children make up 26.6% of the population. The area has a moderately educated workforce, with 26.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,400 | 5.2% |
% Under 18 | 26.6% | 9.5% |
% Seniors | 16.8% | 27.3% |
% WFH | 20.9% | 409.8% |
% w/ College Degree | 26.6% | 20.4% |
As of the latest ACS Survey released in 2023, Menifee, CA is a predominantly white area, with 54.8% of the population identifying as white. The white population has shrunk by 14.6% in the last 5 years. The second most common race or ethnicity in Menifee, CA is hispanic, making up 30.5% of the population. Foreign-born residents account for 9.8% of the population in Menifee, CA, and this percentage has decreased by 30.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 54.8% | -14.6% |
% Black | 3.9% | 680.0% |
% Hispanic | 30.5% | 2.0% |
% Asian | 3.2% | 6.7% |
% Foreign Born | 9.8% | -30.5% |
Mortgage and Risk — Menifee, CA
According to HUD data as of 2023, there were 304 mortgage originations in Menifee, CA, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Menifee, 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 | 304 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Menifee, CA
As of 2024, the percent of homes in Menifee, CA under the Section 8 program is 0.6%. 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 Menifee, 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 | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $330 | $2,200 | $2,530 |
| 2 Bedroom | $700 | $2,450 | $3,150 |
| 3 Bedroom | $860 | $3,350 | $4,210 |
| 4 Bedroom | $1,320 | $3,800 | $5,120 |
Affordability — Menifee, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.8 |
| Median Home Price | $633,000 |
| Median Household Income | $106,000 |