Corona, California Housing Market Prices
Corona Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 24% below the California median$494,715
-
Median rent 8% above the California median$2,193
Housing Market Overview
| Metric | Corona | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $494,715 | $650,794 | $248,835 |
| Price Trend (Annual %) | 9.2% | 8.9% | 7.5% |
| Median Gross Rent | $2,193 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.7% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Corona is about 24% lower than in California. Rent is about 8% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Corona, up about 9.2% and 5.7% a year respectively. Home prices are changing faster.
Median rent in Corona rose about 60.9% between 2015 and 2024, from $1,363 to $2,193. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Corona.
Buying the median-priced home in Corona costs roughly 18.8 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Corona. The price-to-rent ratio in California is about 26.6.
| Metric | Corona | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $494,715 | $650,794 | $248,835 |
| Median Household Income | $107,501 | $99,161 | $80,455 |
| Price-to-Income Ratio | 4.6 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Corona rose about 73.8%, while median household income rose about 34.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Corona | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.1% | 51.7% | 58.5% |
| Rental Rate | 34.9% | 40.8% | 31.2% |
| Vacancy Rate | 3.0% | 7.5% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Corona has a homeownership rate of 62.1%, higher than the California average of 51.7%. Its housing vacancy rate is 3.0%, compared with 7.5% in California.
Housing Stock
| Metric | Corona | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.25 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1987 | 1975 | 1978 |
| Median Number of Rooms | 5.7 | 5.0 | 5.5 |
The typical housing unit in Corona was built around 1987. On average, 3.2 people live in a home with about 5.7 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Corona, California.
What is the median home price in Corona, California?
The median home price in Corona, California is $494,715, lower than the California average of $650,794.
What is the average home price in Corona, California?
The typical home price in Corona, California, reported as the median sale price, is $494,715. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Corona, California?
The median gross rent in Corona, California is $2,193 per month, higher than the California average of $2,036.
What was the median gross rent in Corona in 2020?
In 2020, the median gross rent in Corona, California was $1,680 per month.
What is the price-to-rent ratio in Corona, California?
The price-to-rent ratio in Corona, California is about 18.8, meaning it would take roughly 18.8 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Corona.
Are home prices or rent rising faster in Corona, California?
Both home prices and rent are rising in Corona, up about 9.2% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Corona, California?
62.1% of households in Corona, California own their home, higher than the California average of 51.7%.
What is the vacancy rate in Corona, California?
The housing vacancy rate in Corona, California is 3.0%, lower than the California average of 7.5%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →