Carmel Valley, CA—93924
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Carmel Valley, CA
As of Oct '25, the median home price in Carmel Valley, CA is $1,429,000, with a year-over-year change of -1.5%. This indicates that home prices in Carmel Valley, CA are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,429,000 | -1.5% |
| Single Family | $1,447,000 | -1.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $784,000 | -3.3% |
2 Bed | $1,092,000 | -3.4% |
3 Bed | $1,440,000 | -2.5% |
4 Bed | $1,913,000 | -0.6% |
| 5 Bed | $2,362,000 | -1.6% |
% of Housing Stock
Rental Trends — Carmel Valley, CA
As of July '25, Rentcast reports the average rent in Carmel Valley, CA is $5,100, with a year-over-year rent change of 11.8%. Per bedroom, the median rent as of July '25 in Carmel Valley, CA is 1-bedrooms: $1,700, 2-bedrooms: $4,750, 3-bedrooms: $5,480, 4-bedrooms: $6,950. The most common rental property sizes in Carmel Valley, CA are 1-bedroom and 2-bedroom, accounting for 43.6% and 26.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $5,000 | $5,100 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,700 | $1,700 |
| 2 Bed Rent | $4,500 | $4,750 |
| 3 Bed Rent | $5,000 | $5,480 |
| 4 Bed Rent | $6,950 | $6,950 |
% of Rental Stock
Property Listings — Carmel Valley, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Carmel Valley, CA is 105. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,670,000 | -3.0% |
Listing Count | 56 | 22.0% |
| Listings as % of Homes | 0.8% | 22.0% |
Days on Market | 105 | -1.0% |
Demographics — Carmel Valley, CA
As of the latest ACS Survey released in 2023, Carmel Valley, CA has a population of 6,050, which has decreased by -7.9% over the past 5 years. Carmel Valley, CA is a moderately popular place for families, as children make up 16.0% of the population. The area has a highly educated workforce, with 57.0% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 30.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,050 | -7.9% |
% Under 18 | 16.0% | -1.8% |
% Seniors | 34.7% | 14.1% |
% WFH | 30.7% | 89.5% |
% w/ College Degree | 57.0% | 18.8% |
As of the latest ACS Survey released in 2023, Carmel Valley, CA is a predominantly white area, with 86.6% of the population identifying as white. The white population has grown by 13.6% in the last 5 years. The second most common race or ethnicity in Carmel Valley, CA is hispanic, making up 6.9% of the population. Foreign-born residents account for 7.6% of the population in Carmel Valley, CA, and this percentage has decreased by 40.2% 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 | 86.6% | 13.6% |
% Black | 1.5% | 87.5% |
% Hispanic | 6.9% | -56.6% |
% Asian | 0.7% | -50.0% |
% Foreign Born | 7.6% | -40.2% |
Mortgage and Risk — Carmel Valley, CA
According to HUD data as of 2023, there were 69 mortgage originations in Carmel Valley, CA, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 41.0%, with 4.0% above 90% LTV (normal). This implies small mortgage risk in Carmel Valley, CA. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 69 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Carmel Valley, CA
As of 2024, the percent of homes in Carmel Valley, CA under the Section 8 program is 20.0%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Carmel Valley, CA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 86 |
Total Units Section 8 | 86 |
% Rentals under Section 8 | 20.0% |
% Occupied Section 8 | 74.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $1,030 | $1,700 | $2,730 |
| 2 Bedroom | -$1,210 | $4,500 | $3,290 |
| 3 Bedroom | -$560 | $5,000 | $4,440 |
| 4 Bedroom | -$2,120 | $6,950 | $4,830 |
Affordability — Carmel Valley, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.4 |
| Median Home Price | $1,429,000 |
| Median Household Income | $163,000 |