Covelo, CA—95428
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Covelo, CA
As of Oct '25, the median home price in Covelo, CA is $264,000, with a year-over-year change of -10.5%. This indicates that home prices in Covelo, CA are decreasing. According to Zillow, the 1-year price projection is -5.2%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $264,000 | -10.5% |
| Single Family | $264,000 | -10.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Covelo, CA
Covelo, CA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Covelo, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Covelo, CA is 120. This is a increase of 4.0% 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 7.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $249,000 | -19.0% |
Listing Count | 30 | 36.0% |
| Listings as % of Homes | 2.1% | 36.0% |
Days on Market | 120 | 4.0% |
Demographics — Covelo, CA
As of the latest ACS Survey released in 2023, Covelo, CA has a population of 2,670, which has increased by 4.1% over the past 5 years. Covelo, CA is a moderately popular place for families, as children make up 22.9% of the population. The area has a poorly educated workforce, with 12.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,670 | 4.1% |
% Under 18 | 22.9% | -4.6% |
% Seniors | 20.7% | -5.9% |
% WFH | 15.3% | 25.4% |
% w/ College Degree | 12.6% | -39.1% |
As of the latest ACS Survey released in 2023, Covelo, CA is a predominantly white area, with 34.0% of the population identifying as white. The white population has shrunk by 16.5% in the last 5 years. The second most common race or ethnicity in Covelo, CA is hispanic, making up 29.9% of the population. Foreign-born residents account for 12.7% of the population in Covelo, CA, and this percentage has increased by 54.9% 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 | 34.0% | -16.5% |
% Black | 0.2% | -86.7% |
% Hispanic | 29.9% | 71.8% |
% Asian | 0.3% | ∞% |
% Foreign Born | 12.7% | 54.9% |
Mortgage and Risk — Covelo, CA
According to HUD data as of 2023, there were 8 mortgage originations in Covelo, CA, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Covelo, CA. Investor activity is high, as 25.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 8 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 25.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Covelo, CA
Covelo, CA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,070 |
| 2 Bedroom | N/A | N/A | $1,410 |
| 3 Bedroom | N/A | N/A | $1,980 |
| 4 Bedroom | N/A | N/A | $2,370 |
Affordability — Covelo, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.2 |
| Median Home Price | $264,000 |
| Median Household Income | $44,300 |