Hemet, CA—92545
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hemet, CA
As of Oct '25, the median home price in Hemet, CA is $447,000, with a year-over-year change of -3.0%. This indicates that home prices in Hemet, 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 | $447,000 | -3.0% |
| Single Family | $449,000 | -3.2% |
| Condos | $255,000 | -9.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $200,000 | 0.5% |
2 Bed | $349,000 | -3.9% |
3 Bed | $443,000 | -3.3% |
4 Bed | $499,000 | -2.5% |
| 5 Bed | $533,000 | -2.7% |
% of Housing Stock
Rental Trends — Hemet, CA
As of July '25, Rentcast reports the average rent in Hemet, CA is $2,230, with a year-over-year rent change of 3.7%. Per bedroom, the median rent as of July '25 in Hemet, CA is studios: $1,450, 1-bedrooms: $1,400, 2-bedrooms: $1,870, 3-bedrooms: $2,370, 4-bedrooms: $3,000. The most common rental property sizes in Hemet, CA are 2-bedroom and 3-bedroom, accounting for 53.6% and 17.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,230 |
| Studio Rent | $1,450 | $1,450 |
| 1 Bed Rent | $1,300 | $1,400 |
| 2 Bed Rent | $1,750 | $1,870 |
| 3 Bed Rent | $2,500 | $2,370 |
| 4 Bed Rent | $2,980 | $3,000 |
% of Rental Stock
Property Listings — Hemet, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Hemet, CA is 62. This is a increase of 28.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $454,000 | 2.0% |
Listing Count | 176 | 4.0% |
| Listings as % of Homes | 0.8% | 4.0% |
Days on Market | 62 | 28.0% |
Demographics — Hemet, CA
As of the latest ACS Survey released in 2023, Hemet, CA has a population of 45,800, which has increased by 8.3% over the past 5 years. Hemet, CA is a moderately popular place for families, as children make up 21.2% of the population. The area has a poorly educated workforce, with 17.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,800 | 8.3% |
% Under 18 | 21.2% | -11.3% |
% Seniors | 25.8% | -3.4% |
% WFH | 11.4% | 208.1% |
% w/ College Degree | 17.2% | 24.6% |
As of the latest ACS Survey released in 2023, Hemet, CA is a predominantly hispanic area, with 46.2% of the population identifying as hispanic. The hispanic population has grown by 24.9% in the last 5 years. The second most common race or ethnicity in Hemet, CA is white, making up 35.3% of the population. Foreign-born residents account for 19.4% of the population in Hemet, CA, and this percentage has increased by 33.8% 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 | 35.3% | -27.5% |
% Black | 8.1% | 26.6% |
% Hispanic | 46.2% | 24.9% |
% Asian | 4.8% | 11.6% |
% Foreign Born | 19.4% | 33.8% |
Mortgage and Risk — Hemet, CA
According to HUD data as of 2023, there were 820 mortgage originations in Hemet, CA, of which 49.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 49.0% above 90% LTV (very high). This implies large mortgage risk in Hemet, 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 | 820 |
% Conventional Loans | 49.0% |
% Government Loans | 51.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Hemet, CA
As of 2024, the percent of homes in Hemet, CA under the Section 8 program is 12.0%. 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 Hemet, 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 | 505 |
Total Units Section 8 | 505 |
% Rentals under Section 8 | 12.0% |
% Occupied Section 8 | 89.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $390 | $1,300 | $1,690 |
| 2 Bedroom | $360 | $1,750 | $2,110 |
| 3 Bedroom | $320 | $2,500 | $2,820 |
| 4 Bedroom | $450 | $2,980 | $3,430 |
Affordability — Hemet, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.4 |
| Median Home Price | $447,000 |
| Median Household Income | $59,600 |