Riverside County Housing Market Report: September 2015
Median home price is $307,000 with a rental parity value of $395,000. This market’s discount is $88,000.
Monthly payment affordability has been worsening over the last 4 month(s). Momentum suggests worsening affordability.
Resale prices on a $/SF basis increased from $171/SF to $172/SF. Resale prices have been rising for 6 month(s).
Over the last 12 months, resale prices rose 3.5% indicating a longer term upward price trend.
Median rental rates increased $16 last month from $1,758 to $1,775. The current capitalization rate (rent/price) is 5.6%.
Rents have been rising for 12 month(s). Price momentum signals rising rents over the next three months.
Market rating = 8