Thermal, CA 92274 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Thermal, CA—92274

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$295,000

5.5% YoY Growth

Household Income

$36,100

29.9% YoY Growth

Days on Market

3.0% Longer YoY

Home Price Forecast

1.7%

Median Rent

$1,920

9.9% YoY Growth

1-Bed Rent

$2,750

10.0% YoY Growth

2-Bed Rent

$1,400

N/A

3-Bed Rent

$1,920

1.0% YoY Growth

Home Price Trends — Thermal, CA

As of Nov '25, the median home price in Thermal, CA is $295,000, with a year-over-year change of 5.5%. This indicates that home prices in Thermal, CA are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$295,000	5.5%
Single Family	$295,000	5.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Thermal, CA

As of July '25, Rentcast reports the average rent in Thermal, CA is $1,820, with a year-over-year rent change of -9.9%. Per bedroom, the median rent as of July '25 in Thermal, CA is 1-bedrooms: $2,750, 2-bedrooms: $1,370, 3-bedrooms: $1,960, 4-bedrooms: $1,950. The most common rental property sizes in Thermal, CA are 3-bedroom and 2-bedroom, accounting for 49.0% and 20.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,920	$1,820
Studio Rent	N/A	N/A
1 Bed Rent	$2,750	$2,750
2 Bed Rent	$1,400	$1,370
3 Bed Rent	$1,920	$1,960
4 Bed Rent	$1,950	$1,950

Loading chart...

% of Rental Stock

Studio

6.2%

1 Bedroom

18.2%

2 Bedrooms

20.1%

3 Bedrooms

49.0%

4 Bedrooms

6.5%

5+ Bedrooms

0.1%

Property Listings — Thermal, CA

As of Nov '25, Realtor.com reports that the median days on market for a home in Thermal, CA is 52. This is a increase of 3.0% 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	$325,000	2.0%
Listing Count	59	-14.0%
Listings as % of Homes	0.9%	-14.0%
Days on Market	52	3.0%

Loading chart...

Demographics — Thermal, CA

As of the latest ACS Survey released in 2023, Thermal, CA has a population of 17,900, which has increased by 18.5% over the past 5 years. Thermal, CA is a moderately popular place for families, as children make up 24.7% of the population. The area has a poorly educated workforce, with 5.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.8% reporting working from home.

Metric	Latest Census	YoY % Change
Population	17,900	18.5%
% Under 18	24.7%	-14.2%
% Seniors	13.2%	26.9%
% WFH	2.8%	-3.4%
% w/ College Degree	5.3%	15.2%

Loading chart...

As of the latest ACS Survey released in 2023, Thermal, CA is a predominantly hispanic area, with 88.3% of the population identifying as hispanic. The hispanic population has grown by 1.1% in the last 5 years. The second most common race or ethnicity in Thermal, CA is white, making up 10.1% of the population. Foreign-born residents account for 42.4% of the population in Thermal, CA, and this percentage has increased by 4.4% 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	10.1%	-4.7%
% Black	0.6%	-33.3%
% Hispanic	88.3%	1.1%
% Asian	0.4%	33.3%
% Foreign Born	42.4%	4.4%

Loading chart...

Mortgage and Risk — Thermal, CA

According to HUD data as of 2023, there were 100 mortgage originations in Thermal, CA, of which 45.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 53.0% above 90% LTV (very high). This implies large mortgage risk in Thermal, CA. Investor activity is low, as 2.0% 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	100
% Conventional Loans	45.0%
% Government Loans	55.0%
% Investor Loans	2.0%
% Second Loans	3.0%
% Cash Out Refinance	13.0%

Loading chart...

Rentals and Section 8 — Thermal, CA

As of 2024, the percent of homes in Thermal, CA under the Section 8 program is 3.8%. 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 Thermal, CA, because HUD payments exceed market rent, while 1-bedroom units do not.

Section 8 Market Size

Total Units under HUD	50
Total Units Section 8	50
% Rentals under Section 8	3.8%
% Occupied Section 8	89.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$1,300	$2,750	$1,450
2 Bedroom	$410	$1,400	$1,810
3 Bedroom	$520	$1,920	$2,440
4 Bedroom	$1,030	$1,950	$2,980

Thermal, CA—92274

Key Metrics at a Glance

Home Price Trends — Thermal, CA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Thermal, CA

% of Rental Stock

Property Listings — Thermal, CA

Demographics — Thermal, CA

Race and Ethnicity

Mortgage and Risk — Thermal, CA

Mortgages

Rentals and Section 8 — Thermal, CA

Section 8 Market Size

Section 8 Opportunity

Affordability — Thermal, CA

Home Price to Income Ratio

Thermal, CA — ZIP Code Boundary Map

Nearby ZIP Codes

Mecca, CA

Coachella, CA

La Quinta, CA

Indio, CA

Borrego Springs, CA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	7
Median Home Price	$295,000
Median Household Income	$36,100

Thermal, CA—92274

Key Metrics at a Glance

Home Price Trends — Thermal, CA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Thermal, CA

% of Rental Stock

Property Listings — Thermal, CA

Demographics — Thermal, CA

Race and Ethnicity

Mortgage and Risk — Thermal, CA

Mortgages

Rentals and Section 8 — Thermal, CA

Section 8 Market Size

Section 8 Opportunity

Affordability — Thermal, CA

Home Price to Income Ratio

Thermal, CA — ZIP Code Boundary Map

Nearby ZIP Codes

Mecca, CA

Coachella, CA

La Quinta, CA

Indio, CA

Borrego Springs, CA

Frequently Asked Questions

What is the average home price in Thermal, CA 92274?

How have home prices in Thermal, CA 92274 changed over the past year?

What is the home price projection for Thermal, CA 92274?

What are the demographics of Thermal, CA 92274?

How long does it take homes to sell in Thermal, CA 92274?

What is the average rent price in Thermal, CA 92274?